Rules to Learn Flashcards
If a holdover tenant has been notified of a rent increase prior to the end of the lease, what is the new rent amount?
The increased rent amount.
What is the new periodic tenancy for a holdover tenant of a residential property?
Month-to-month
What is the new periodic tenancy for a holdover tenant of a commercial property?
Look to the lease - probably monthly or yearly. However, not to exceed one year, to satisfy the Statute of Frauds.
Can a landlord revoke a license when the licensee has paid value for it?
Yes, at any time, without notice.
What is a license?
Mere permission to enter the property.
Is mere nonuse of an easement enough to trigger abandonment?
NO! You need intent and an affirmative act on the behalf of the easement holder to abandon.
Requirements for a covenant to run with the land. (5)
(1) Writing, (2) Grantor intent, (3) Grantee’s acceptance, (4) touch and concern, (5) privity/relationship
How can restrictive covenants in common development schemes be voided?
(a.k.a. - “only residential homes can be built here” but someone wants to build a commercial building)
There must be changed conditions which have made the property unusable for all of the parcels in that common development scheme.
How accurately must a deed describe land?
The deed must adequately describe the land conveyed.
When does the risk of loss pass to the buyer under the doctrine of equitable conversion?
At the moment the parties sign a contract for the sale of the land, the buyer is deemed to own the property. At this point, he should BUY INSURANCE!
Trade Fixtures Doctrine
Prior to the expiration of a commercial lease, a commercial tenant can remove all trade fixtures.
Is a buyer who takes the property subject to a mortgage liable for the debt?
No.
Is a buyer who takes the property and assumes the mortgage liable for the debt?
Yes - the bank can sue the buyer of the property and the original mortgagor.
Can one actually possess land without being present on the land for adverse possession?
No.
Does the right to have land supported laterally on its sides and subjacently underneath by a neighbor’s land apply to structures on the property?
Yes, if damages are caused to structures on the property, the landowner can recover if they can prove the neighbor negligently removed support either laterally or subjacently.
