Real Property MBE Mnemonics Flashcards
Life Estates “TRID”
T pay Taxes
R Repairs
I pay mortgage Interest
D Don’t commit waste
Future Interests “GRRR TESS RMV Class”
G in Grantor R Reverter R Right of entry R Reversion T in Third Person E Executory interest S Springing S Shifting R Remainders (indefeasibly vested, vested, contingent) M Mergers V Validity issues "SWAMER" C Class gifts
Validity Issues “SWAMER”
S Shelley's case W Worthier title A no restraints on Alienation unless limited and reasonable M restraints on Marriage E restraints on life Estates R Rule against perpetuities
Joint Tenancy “T TIP”
T Time
T Title
I Interest
P Possession
Joint Tenancy Severage “TIMM”
T lease to Third party (some states)
I Inter vivos conveyance of entire estate
M Mortgate in title theory state
M Murder of one joint tenant by other (some states)
Duties Tenants in Common “PRIOR T”
P can retain Profits from use of property
R must share net Rents from third parties
I no reimbursement for Improvements but possible credit at partition
O cannot Ouster
R contribute to Repairs
T reimbursement for Taxes or mortgage unless in sole possession
Easement Termination “END CRAMP”
E Estoppel N Necessity ends D Destruction (involuntary) of servant estate C Condemnation of servant estate R Release A Abandonment (intentional) M Merger P Prescription Profit Rules "PING + END CRAMP"
Burdensome Covenants “TIPS (N)”
T Touch and concern I Intent to run with the land P Privity (horizontal and vertical) S Statute of frauds requires a writing N Notice
Beneficial Covenants “TIVS”
T Touch and concern
I Intent to run with the land
V Vertical privity only
S Statute of frauds requires a writing
Requirements for Burdened Successors to be Bound by Equitable Servitude “TINS”
T Touch and concern
I Intent that the equitable servitude would run
N Notice
S Statute of Frauds requires a writing unless implied by common scheme of development
Equity Defenses “U LEAN”
U Unclean hands L Laches E Estoppel A holder Acquiesced to violations N Neighborhood has changed significantly
Voidable Deeds “IM BAD FU”
I minor or Incompetant
M Mistake
B Breach of fiduciary duty
A fraudulent conveyances to Avoid creditors
D Duress
F obtained through Fraud in the inducement
U Undue influence
