Real Property Flashcards
FS absolute
runs forever and is freely alienable
- courts will presume a FS unless language shows clear intent to create another estate
defeasible fee estate
may terminate upon the happening of a condition
fee simple determinable
- look for words that are durational (so long as, until, during, while)
- ends automatically
- the holder of the future interest is the grantor and he just waits patiently for present estate to end
fee simple subject to condition subsequent
- look for words that are conditional (but if, provided, however)
- does not end automatically
- holder of the future interest is the grantor and he must take steps to reenter
fee simple subject to executory limitation
- ends automatically upon the happening of some condition
- possession passes to another grantee
life estate
estate is measured by life
- can create by implication
life estate pur autre vie
measuring life is the life of someone other than the life tenant
- must be expressly created in conveyance
- if life tenant dies before measuring life, life estate passes to the life tenant’s estate until the measuring life dies
waste
if life tenant does more or less than merely maintain the estate, then life tenant is guilty of waste
- !!! depletion of natural resources is waste unless the normal use of the land was to deplete
voluntary waste
affirmative act beyond the right of maintenance that causes harm to the premises
permissive waste
where tenant has failed to maintain the estate
ways to avoid permissive waste
- make ordinary repairs
- pay taxes
ameliorative waste
voluntary waste that occurs when the affirmative act alters the property substantially but increase the value of it
- if changed conditions have made the property relatively useless in its current use, the life tenant can tear it down without liability to the holder of the future interest
future interest
present interest in the land with a future right of possession (will come later if at all)
if a grantor holds the future interest the only possible choices of classification are…
- reversion
- possibility of reverter
- right of entry
if a grantee holds the future interest the only possible choices of classification are…
- remainders
- executory interests
reversion
interest kept by grantor when grantor gives a grantee less than the durational estate the grantor had
- never subject to RAP
possibility of reverter
when grantor gives FS determinable grantor keeps a possibility of reverter
- never subject to RAP
right of entry
when grantor gives FS subject to conditions subsequent grantor keeps a right of entry
- grantor must exercise the right of entry to take possession
- never subject to RAP
vested remainder
nothing stands in the way of its becoming possessory on the expiration of the estate that comes before it
- requires ascertainable person and no express condition precedent
vested remainder subject to open
no condition to be satisfied before taking possession but conveyed to a class of people - at least 1 member who will take but the size of the share is unknown because the class remains open and future persons may qualify as members of the class
contingent remainder
something has to happen or be known before the remainder can become possessory
contingent remainder conditions
- condition must be satisfied before the grantee can be certain of possession
- grantee is not in existence
- ID of exact taker unknown
vested remainder subject to divestment
taker is IDed but there is a condition subsequent
- condition will be in the clause that is after the clause that creates the future interest in the grantee
executory interest
- operates to cut short the estate that comes before it
- does not come into possession at the natural expiration of the earlier estate
- if future interest in grantee cuts short an earlier estate it must be an EI
future interests RAP applies to
EI, VR subject to open, contingent remainder
RAP
no interest is good unless it must vest, if at all, not later than 21 years after some life in being at the creation of the interest
class gifts and RAP
if it is possible that a member of the class could vest outside of the “LIB + 21 years” time period then all interests are void
charity to charity and RAP
RAP never violated if the gift is from one charity to another
joint tenancies
- right of survivorship
- each of the cotenants owns an undivided fractional share of the whole
- individual interest is transferable inter vivo
- must clearly make intention known, otherwise it will be a TIC
creation of JT
requires 4 unities
- time
- title
- interest
- possession
destruction of JT
partition - voluntary destruction that completely ends the co-tenancy
severance - involuntary destruction occurs when one of the 4 unities is disturbed
TX lien theory for no severance
when a mortgage is executed, a lien merely attaches to the title, title does not get transferred so unity is disturbed
TIC
- no right of survivorship
TIC creation
if right of survivorship is unclear or 4 unities are not present
how to partition TIC
any co-tenant can ask that property be partitioned either
- property will be capable of physical division and lines will be drawn and the parties are no longer co-tenants OR
- property will not be capable of physical division and it will be sold and the proceeds divided among fractional owners
periodic tenancy
ongoing, continuing estate until 1 party gives valid notice
creation of periodic tenancy
express agreement, implied agreement, operation of law (via statute of frauds)
tenancy for years
must be expressly created for a specified of time
statute of frauds
any tenancy for years over 1 year must be in writing
termination of periodic tenancy proper length of notice
year to year = 6 months
less than 1 year = length of period but up to 6 months
ways to terminate tenancy at will
- death of either party
- waste by tenant
- assignment by tenant
- transfer of title by LL
- lease by LL to someone else
tenancy at sufferance
- not a true tenancy
- bare possession of a holdover tenant
LL options for tenancy at sufferance
- hold tenant as wrongdoing trespasser and sue to throw tenant off the property and recover damages for holdover
- impose new periodic tenancy on tenant (residential will always be month to month, commercial will be rent period of old rent period
LL options if tenant voluntarily abandons
- treat abandonment as an offer of surrender and accept the offer by retaking the premises, ending tenant’s liability
- re-let the premises on tenant’s account and hold tenant liable for any deficiency
implied warranty of habitability
applies to residential property and cannot be waived
ways LL can breach unwaived implied covenant of quiet enjoyment
- total eviction (termiantes lease, ends T’s obligation to pay rent)
- partial eviction (does not terminate lease, T can stay and pay no rent to LL)
- constructive eviction (LLs act or failure to provide some servce that he has a legal duty to provide makes the premises uninhabitable)
assignment
T transfers everything
sublease
T transfer a portion of the lease period, holding some time back
TX statute regarding assignments and subleases
no right to do so unless LL gives permission
elements for justification of T’s termination of lease
- LL must cause the injury
- must be substantial interference with covenant of quiet enjoyment rendering the premises uninhabitable
- T must vacate the premises within a reasonable time after the breach or will otherwise lose the right to do so