real property Flashcards
Real property
<p><strong>assignment/sublease</strong></p>
<p>Absent contrary language, a lease can be freely assigned or sublet. An assignment is a complete transfer of the remaining duration of the tenant’s leasehold estate. Any transfer for less than the entire duration is a sublease. An assignee tenant is liable to the landlord for rent and covenants that run with the land because he is in privity of estate with the landlord. In contrast, a subtenant is not liable to the landlord for rent or covenants because he is not in privity of estate or privity of contract with him.</p>
Real property
<p>real covenants</p>
<p>For a subsequent owner to enforce or be burdened by a covenant, the covenant must run with the land. When damages are sought as a response to a broken covenant, the covenant is referred to as a real covenant. For the burden of a real covenant to run with the land (1) it must be in writing, (2) there must be intent, (3) it must touch and concern the land, (4) there must be notice, and (5) there must be horizontal and vertical privity between the parties.</p>
Real property
<p>real covenant: writing</p>
<p>For a covenant to be enforceable, it must comply with the Statute of Frauds. </p>
Real property
<p>real covenant: intent</p>
<p>The parties must intend for the rights and duties to run with the land.</p>
Real property
<p>real covenant: touch and concern</p>
<p>The covenant must touch and concern the land. This means that the person seeking enforcement must establish that the benefit or burden affects both the promisee and promisor as owners of the land and not just as individuals. </p>
Real property
<p>real covenant: notice</p>
<p>A purchaser must have notice of the covenant for the burden of that covenant to run with the land. </p>
Real property
<p>real covenant: HP</p>
<p>For the burden to run, there must be horizontal privity. This means the original parties to a covenant must have privity of estate at the time the agreement creating the covenant is entered into. This means there must be some shared property interest apart from the covenant itself. This relationship between the parties is based on mutual or successive interest in the burdened land.</p>
Real property
<p>real covenant: VP</p>
<p>Vertical privity exists between an original party and a successor party only if title to the entire servient estate can be traced to the promisor. </p>
Real property
<p>Real covenant elements</p>
<p>1) writing
2) intent
3) touch and concern
4) VP and HP
5) notice</p>
Real property
<p>equitable servitude</p>
<p>When an injunction at equity is sought to enforce a covenant, it is called an equitable servitude. For an equitable servitude to run with the land (1) it must be in writing, (2) there must be intent, (3) it must touch and concern the land, and (4) there must be notice.</p>
Real property
<p>tenant's duty to pay rent</p>
<p>Every tenant has the duty to pay rent. This is a covenant that runs with the land. If the duty to pay rent is breached, the landlord can collect from anybody they are in privity of estate or contract with.</p>
Real property
<p>LL's ability to evict tenant</p>
<p>A landlord has the ability to evict a tenant if the tenant has breached a duty to the landlord or if the tenant is in wrongful possession of the property.</p>
Real property
<p>Implied Warranty of Habitability</p>
<p>When a property is leased for residential purposes, an implied warranty of habitability automatically attaches. This means that the landlord must maintain the property so that it is reasonably fit for normal residential use.</p>
Real property
<p>tenancy in common</p>
<p>Tenants in common have unified possession of an estate, which means they have an undivided interest with unrestricted rights to possess the whole, and such interest is freely devisable or transferable. Unlike a joint tenancy, there is no right of survivorship.</p>
Real property
<p>joint tenancy</p>
<p>To create a joint tenancy, you need express language creating a joint tenancy and presence of the “four unities:” equal rights to possess the whole, with identical equal interests, created at the same time and by the same title instrument. Joint tenants have a right of survivorship and the interest is alienable, but not devisable. A joint tenancy is severed by sale, partition, or a mortgage in a title theory jurisdiction.</p>
Real property
<p>tenancy by the entirety</p>
<p>A tenancy by the entirety requires the same unities as a joint tenancy—time, title, interest and possession, plus the additional unity of marriage between two people. Tenants by the entirety have the right of survivorship, and neither cotenant can unilaterally defeat this right by conveyance to a 3rd party.</p>
Real property
<p>cotenants' rights/obligations</p>
<p>A cotenant in exclusive possession of an estate is not liable to other cotenants for rents (unless from a 3rd party) or profits. Cotenants can collect for operating expenses, but not for contribution for reasonable repairs and improvements unless there is an accounting or partition.</p>
Real property
<p>tenancy for years</p>
<p>A tenancy for years is a tenancy created by express agreement for a fixed period of time. It is subject to the statute of frauds if the period of time is greater than one year.</p>
Real property
<p>periodic tenancy</p>
<p>A periodic tenancy is a repetitive, ongoing estate measured by set periods of time that automatically renew at the end of each period unless there is a valid termination notice. A writing is not required.</p>
Real property
<p>tenancy at will</p>
<p>A tenancy at will has no fixed period of time, parties must expressly agree to it, or one can be implied by regular rent payment, and it may be terminated by either party at any time.</p>
Real property
<p>tenancy at sufferance</p>
<p>A tenancy at sufferance is created when a tenant wrongfully holds over past the expiration of his lease, and lasts until the landlord evicts the tenant or converts the tenancy into a periodic tenancy.</p>
Real property
<p>four types of tenancies</p>
<p>1) tenancy for years
2) periodic tenancy
3) tenancy at will
4) tenancy at sufferance</p>
Real property
<p>tenant's duties</p>
<p>A tenant has a duty to pay rent, avoid waste and to make reasonable repairs. A landlord can sue tenant for damages and evict him for failure to pay rent.</p>
Real property
<p>landlord's duties</p>
<p>A landlord must deliver actual possession to tenant, and has a duty to make residential repairs. A landlord also owes to a residential tenant a warranty of habitability and a covenant of quiet enjoyment.</p>
Real property
<p>adverse possession</p>
<p>To obtain ownership over property by adverse possession, plaintiff’s possession must be continuous, actual, open and notorious, hostile, and exclusive.</p>
Real property
<p>valid deed</p>
<p>1) identify the parties involved,
2) grantor's signature
3) words of transfer
4) reasonably definite property description</p>
Real property
<p>delivery of deed</p>
<p>At the time of transfer, the grantor must intend to make a present transfer of the property interest to the grantee.</p>
Real property
<p>notice jdx</p>
<p>In a notice jurisdiction, a purchaser for value without notice of the prior interest prevails over the prior grantee who failed to record.</p>
Real property
<p>race jdx</p>
<p>In a race jurisdiction, the first to record prevails, regardless of knowledge of prior conflicting interests.</p>
Real property
<p>race-notice jdx</p>
<p>In a race-notice jurisdiction, a subsequent purchaser for value without notice is protected only if he takes without notice and is first to record.</p>