Real Property Flashcards
What are the rights & duties of a life tenant?
Tenant is to maintain the estate; if they do more, they have committed waste. Voluntary waste is any affirmative action beyond the right of maintenance that harms the premises. Permissive waste results from a tenant’s failure to maintain – they must repair, pay taxes, & interest on any mortgage. Ameliorative waste alters the property, but enhances its value.
When can the life tenant commit waste?
If changed conditions have made the property relatively worthless in its present condition, life estate can tear down w/out liability to the future interests.
What is the rule of convenience?
A class closes when any member of the class is entitled to a distribution.
What is the effect of the cy pres doctrine in Texas?
In Texas a court can shorten the time when vesting could occur to keep the gift over from vesting outside the time period allowed by the rule against perpetuities. The court can only do so to further the wishes of the grantor.
What are the rights of tenants in common (co-tenants) in Texas?
They have the right to possession – each can possess the whole. They have the right to partition. There is a duty to account for profit if one co-tenant ousters another, has an agreement to share, leases to a third party, or depletes natural resources. They have the right to contribution for repairs, mortgage, & governmental obligations. They have a claim for recoupment for any improvements at the time of sale or partition.
What is an easement?
An easement is a non-possessory interest in land involving a right of use. An easement appurtenant directly benefits the use & enjoyment of a specific piece of land. An easement in gross exist where there no dominant estate. Easement appurtenant are transferred w/the land. Easements in gross cannot be transferred unless the language of the easement allows.
What is required for a covenant to run w/the land?
There are 4 requirements: There must be intent that it run w/the land,
notice to the person against whom enforcement is sought,
it must touch & concern the land; &
there must be privity.
What is the doctrine of constructive adverse possession?
If someone goes onto the land under color of title, but does not possess the whole, they will acquire the title to the whole even though they didn’t possess the whole. It must be reasonable in relation to the amount possessed, & the land must be contiguous.
What things affect the adverse possession period & how?
Leasing of the property to another counts as possession for AP purposes. Tacking is allowed so long as there is no gaps. If the owner is under a disability when the period begins, the AP doesn’t start until owner is free of disability. If the disability arises after the AP period begins, it is ignored.
Who has the risk of loss in a land sale contract?
The party in possession of the land.
What is the effect of death of one party before closing?
If the seller dies, buyer closes w/the seller’s estate & the interest is personal property. If the buyer dies, the seller closes w/buyer’s estate & the interest is real property.
What is a marketable title?
A title free of encumbrances [easements, restrictive covenants, mortgages, options, etc…] that are not mentioned in the contract. Violation of a zoning ordinance is an encumbrance. Violation of housing or building codes is not an encumbrance.
When can a deed be recorded in Texas?
When it is signed & notarized or signed by two witnesses.
What kind of recording act does Texas have?
Texas has a notice recording act. Subsequent grantees who take w/out notice have valid title. Recording is irrelevant, except that it might give notice. There is also a duty to inspect that will give notice.
