Real Property Concurrent Estates Essay Approach Flashcards by Cristhian Tucker

What does Alienable mean

Alienable means transferable to another owner.

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What does devisable mean

Devisable means pass by wil

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What does descendible mean?

Descendible pass by statues of intestacy if no will

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Real Property Essay Approaches

LANDLORD/TENANT ESSAY APPROACH

EASEMENTS/REALCOVENANTS/EQUITABLE SERVITUDES

CONCURRENT ESTATES

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CONCURRENT ESTATES ESSAY APPROACH PARTS

A) JOINT TENANCY

-Right of Survivorship

B) TENANCY BY ENTIRETY

Right of Survivorship

C) TENANCY IN COMMON

-No Right of Survivorship

D) RIGHTS APPLYING TO ALL:

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Concurrent Estates Essay Approach Subparts

$A) JOINT TENANCY

-Right of Survivorship

B) TENANCY BY ENTIRETY

Right of Survivorship

C) TENANCY IN COMMON

-No Right of Survivorship

D) RIGHTS APPLYING TO ALL:

A) JOINT TENANCY

-Right of Survivorship

CREATION (Go into transition paragraph if facts mention it is valid)

Same time

Same Title

Identical Interests

Equal Possession

Also Consider Severance (3 ways)

Partition

Sale

Mortgage

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Concurrent Estates Essay Approach Subparts

A) JOINT TENANCY

-Right of Survivorship

$B) TENANCY BY ENTIRETY

Right of Survivorship

C) TENANCY IN COMMON

-No Right of Survivorship

D) RIGHTS APPLYING TO ALL:

B) TENANCY BY ENTIRETY

Right of Survivorship

Creation

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Concurrent Estates Essay Approach Subparts

A) JOINT TENANCY

-Right of Survivorship

B) TENANCY BY ENTIRETY

Right of Survivorship

$C) TENANCY IN COMMON

-No Right of Survivorship

D) RIGHTS APPLYING TO ALL:

C) TENANCY IN COMMON

-No Right of Survivorship

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Concurrent Estates Essay Approach Subparts

A) JOINT TENANCY

-Right of Survivorship

B) TENANCY BY ENTIRETY

Right of Survivorship

C) TENANCY IN COMMON

-No Right of Survivorship

$D) RIGHTS APPLYING TO ALL:

D) RIGHTS APPLYING TO ALL:

Possession

Adverse Possession

Rent from Co-Tenant

Rent from 3rd Parties

Carrying Costs

Repairs

Improvements

Waste

Partition

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Concurrent Estates Essay Approach

$A) JOINT TENANCY

-Right of Survivorship

CREATION (Go into transition paragraph if facts mention it is valid)

Same time

Same Title

Identical Interests

Equal Possession

Also Consider Severance (3 ways)

Partition

Sale

Mortgage

A) JOINT TENANCY

-Right of Ownership

Two or more people owning a single, unified interest in a property with a right of survivorship, which gives the deceased partner’s share automatically to the surviving partner. The joint tenancy is alienable, but not devisable or descendible.

If facts state it is a valid JT , you don’t have to go into creation headings. Transition paragraph Assuming the facts to be true a valid joint tenancy relationship has been formed between the parties.

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Concurrent Estates Essay Approach

A) JOINT TENANCY

-Right of Survivorship

$CREATION (Go into transition paragraph if facts mention it is valid)

Same time

Same Title

Identical Interests

Equal Possession

Also Consider Severance (3 ways)

Partition

Sale

Mortgage

CREATION (not much time spent)

Joint tenants must take their interests at the same time, by the same title, with identical interests and an equal right to possess the whole. The right of survivorship must be clearly expressed. A third party (straw purchaser) should be used to create the interest.

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Concurrent Estates Essay Approach

A) JOINT TENANCY

-Right of Survivorship

CREATION (Go into transition paragraph if facts mention it is valid)

$Same time

Same Title

Identical Interests

Equal Possession

Also Consider Severance (3 ways)

Partition

Sale

Mortgage

Same time

All joint tenancies in a single property must be created at the same time.

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Concurrent Estates Essay Approach

A) JOINT TENANCY

-Right of Survivorship

CREATION (Go into transition paragraph if facts mention it is valid)

Same time

$Same Title

Identical Interests

Equal Possession

Also Consider Severance (3 ways)

Partition

Sale

Mortgage

Same Title

All joint tenancies in a single property must be created in the same document.

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Concurrent Estates Essay Approach

A) JOINT TENANCY

-Right of Survivorship

CREATION (Go into transition paragraph if facts mention it is valid)

Same time

Same Title

$Identical Interests

Equal Possession

Also Consider Severance (3 ways)

Partition

Sale

Mortgage

Identical Interests

All joint tenancies in a single property must grant an equal interest in the property (depending on how many are created at once).

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Concurrent Estates Essay Approach

A) JOINT TENANCY

-Right of Survivorship

CREATION (Go into transition paragraph if facts mention it is valid)

Same time

Same Title

Identical Interests

$Equal Possession

Also Consider Severance (3 ways)

Partition

Sale

Mortgage

Equal Possession

All joint tenancies in a single property must give the right to possess the entire property, and not just a portion.

Also Consider Severance (3 ways)

Joint tenancies can be severed by partition, sale, or mortgage.

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Concurrent Estates Essay Approach

A) JOINT TENANCY

-Right of Survivorship

CREATION (Go into transition paragraph if facts mention it is valid)

Same time

Same Title

Identical Interests

Equal Possession

Also Consider Severance (3 ways)

$Partition

Sale

Mortgage

Partition

A joint tenancy is severed when the interests are divided either by voluntary agreement or by court ordered sale or by court ordered division of the property.

Concurrent Estates Essay Approach

A) JOINT TENANCY

-Right of Survivorship

CREATION (Go into transition paragraph if facts mention it is valid)

Same time

Same Title

Identical Interests

Equal Possession

Also Consider Severance (3 ways)

Partition

$Sale

Mortgage

Sale

A joint tenant may sell or transfer his or her interest during his or her lifetime without the knowledge of other joint tenants. The buyer becomes a tenant in common. Other tenants still own as JT as long as more than two total tenants.

Under the Doctrine of Equitable Conversion, entering into a sale agreement to sever the joint tenancy ends the joint tenancy, even if the sale hasn’t gone through yet.

Concurrent Estates Essay Approach

A) JOINT TENANCY

-Right of Survivorship

CREATION (Go into transition paragraph if facts mention it is valid)

Same time

Same Title

Identical Interests

Equal Possession

Also Consider Severance (3 ways)

Partition

Sale

$Mortgage

Mortgage

The execution of a mortgage or lien on a joint tenant’s share severs the joint tenancy in states following the title theory of mortgages. Lien Theory states do not consider a joint tenancy severed by mortgage.

Concurrent Estates Essay Approach

$B) TENANCY BY ENTIRETY

Right of Survivorship

Creation

B) TENANCY BY ENTIRETY

A marital interest in property with right of survivorship. Creditors of one spouse cannot reach property owned this way and neither spouse can defeat the right of survivorship alone through transfer.

Concurrent Estates Essay Approach

B) TENANCY BY ENTIRETY

Right of Survivorship

$Creation

Creation

A tenancy by the entirety is presumed in any conveyance between married partners, unless explicitly stated otherwise.

Concurrent Estates Essay Approach

$C) TENANCY IN COMMON

-No Right of Survivorship

C) TENANCY IN COMMON

-No Right of Survivorship

Two or more people own property with no right of survivorship. Each interest is descendible, devisable, and alienable. Each co-tenant owns a part of the property with the right to possess the whole. Default tenancy.

Concurrent Estates Essay Approach

$D) RIGHTS APPLYING TO ALL:

Possession

Adverse Possession

Rent from Co-Tenant

Rent from 3rd Parties

Carrying Costs

Repairs

Improvements

Waste

Partition

Just Heading

Concurrent Estates Essay Approach

D) RIGHTS APPLYING TO ALL:

$Possession

Adverse Possession

Rent from Co-Tenant

Rent from 3rd Parties

Carrying Costs

Repairs

Improvements

Waste

Partition

Possession

Co-tenants may not exclude other co-tenants from any part of the property. This is called wrongful ouster.

Concurrent Estates Essay Approach

D) RIGHTS APPLYING TO ALL:

Possession

$Adverse Possession

Rent from Co-Tenant

Rent from 3rd Parties

Carrying Costs

Repairs

Improvements

Waste

Partition

Adverse Possession

Co-tenants cannot acquire title to the exclusion of others through exclusive possession for the statutory period unless s/he has ousted the other co-tenants (which can be shown with hostility).

Concurrent Estates Essay Approach **_D) RIGHTS APPLYING TO ALL:_** **_Possession_** **_Adverse Possession_** **_$Rent from Co-Tenant_** **_Rent from 3rd Parties_** **_Carrying Costs_** **_Repairs_** **_Improvements_** **_Waste_** **_Partition_**

**_Rent from Co-Tenant_** Absent ouster, a co-tenant in exclusive possession is not liable to the others for rent.

Concurrent Estates Essay Approach **_D) RIGHTS APPLYING TO ALL:_** **_Possession_** **_Adverse Possession_** **_Rent from Co-Tenant_** **_$Rent from 3rd Parties_** **_Carrying Costs_** **_Repairs_** **_Improvements_** **_Waste_** **_Partition_**

**_Rent from 3rd Parties_** Leasing a part or all of the premises to a third party does not absolve a co-tenant from his or her duty to provide the other co-tenants a fair share of the rent.

Concurrent Estates Essay Approach **_D) RIGHTS APPLYING TO ALL:_** **_Possession_** **_Adverse Possession_** **_Rent from Co-Tenant_** **_Rent from 3rd Parties_** **_$Carrying Costs_** **_Repairs_** **_Improvements_** **_Waste_** **_Partition_**

**_Carrying Costs_** Each co-tenant is responsible for their fair share of carrying costs based on their undivided share of the property. Carrying costs include taxes, mortgage, and interest payments.

Concurrent Estates Essay Approach **_D) RIGHTS APPLYING TO ALL:_** **_Possession_** **_Adverse Possession_** **_Rent from Co-Tenant_** **_Rent from 3rd Parties_** **_Carrying Costs_** **_$Repairs_** **_Improvements_** **_Waste_** **_Partition_**

**_Repairs_** Co-tenants may seek contribution for repairs that are reasonable or necessary if the other co-tenants were given notice of the repairs.

Concurrent Estates Essay Approach **_D) RIGHTS APPLYING TO ALL:_** **_Possession_** **_Adverse Possession_** **_Rent from Co-Tenant_** **_Rent from 3rd Parties_** **_Carrying Costs_** **_Repairs_** **_$Improvements_** **_Waste_** **_Partition_**

**_Improvements_** Co-tenants have no right to contribution for improvements. At a partition, the improving co-tenant may seek a credit for any increase in value to the property due to the improvements, but is liable for any diminution in value the improvements caused.

Concurrent Estates Essay Approach **_D) RIGHTS APPLYING TO ALL:_** **_Possession_** **_Adverse Possession_** **_Rent from Co-Tenant_** **_Rent from 3rd Parties_** **_Carrying Costs_** **_Repairs_** **_Improvements_** **_$Waste_** **_Partition_**

**_Waste_** Co-tenants must not commit waste (voluntary, permissive, or ameliorative waste) and other co-tenants may bring an action for waste during the co-tenancy.

Concurrent Estates Essay Approach **_D) RIGHTS APPLYING TO ALL:_** **_Possession_** **_Adverse Possession_** **_Rent from Co-Tenant_** **_Rent from 3rd Parties_** **_Carrying Costs_** **_Repairs_** **_Improvements_** **_Waste_** **_$Partition_**

**_Partition_** Co-tenants can bring an action for partition (by voluntary agreement or court action).