TX Real Property Flashcards

1
Q

What are the rights & duties of a life tenant?

A

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.

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2
Q

When can the life tenant commit waste?

A

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.

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3
Q

What is the rule of convenience?

A

A class closes when any member of the class is entitled to a distribution.

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4
Q

What is the effect of the cy pres doctrine in Texas?

A

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.

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5
Q

What are the rights of tenants in common (co-tenants) in Texas?

A

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

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6
Q

What is an easement?

A

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

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7
Q

What is required for a covenant to run w/the land?

A

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

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8
Q

What is the doctrine of constructive adverse possession?

A

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.

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9
Q

What things affect the adverse possession period and how?

A

*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.

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10
Q

Who has the risk of loss in a land sale contract?

A

The party in possession of the land

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11
Q

What is the effect of death of one party before closing?

A

If the seller dies, buyer closes with the seller’s estate and the interest is personal property. If the buyer dies, the seller closes with the buyer’s estate and the interest is real property

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12
Q

What is a marketable title?

A

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.

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13
Q

What are the requirements of a valid deed?

A

In writing, signed by grantor, designates a grantee, contains words of grant, adequate legal description, and delivery to/acceptance by grantee

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14
Q

When can a deed be recorded in Texas?

A

It must be signed and notarized or signed by two witnesses

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15
Q

What kind of recording act does Texas have?

A

Texas has a notice recording act. Subsequent grantees who take without notice have valid title. Recording is irrelevant, except that it might give notice. There is also a duty to inspect that will give notice.

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16
Q

What are the notice requirements of a foreclosure sale?

A

Set forth by statute.
Time, Date, & Place: the first tuesday of the month, following 21 days’ notice: 10am-4pm; on the courthouse steps in the county where the real property is located (if in 2 counties, then at either county’s courthouse) but the notice must designate that county where the foreclosure sale will take place
Posting Notice: notice of the sale must be posted in the county (or all counties) where the real property is located and filing it with the county (or all counties) clerk

17
Q

What is the result of failing to meet foreclosure sale notice requirements?

A

It will invalidate the foreclosure sale by a trustee. The purpose of providing notice of a foreclosure sale is to give the debtor a minimal amount of protection. The notice statute requires properly posted notice, personal notice to the mortgagor, and all DRs obligated to pay the debt, and filing notice with the county clerk in the county for sale

18
Q

What kind of title is transferred at a foreclosure sale?

A

The purchaser gets legal title from the owner of the mortgaged property. B/c TX follows the lien-title theory, title never vests in the Bank/mortgagee

19
Q

What warranties regarding title does the foreclosure sale purchaser get?

A

Unless otherwise stated orally at the foreclosure sale or in the trustee’s deed, the purchaser gets title without warranties from the mortgagee. Typically the t’ee’s deed warrants title from the mortgagor. The purchaser essentially takes a quitclaim conveyance from the foreclosure mortgagee.

20
Q

What type of warranties regarding the condition of the land sale does a foreclosure sale purchaser get?

A

He takes the property as is. No express or implied warranties are included

21
Q

What is a general warranty deed?

A

It is a deed that conveys all or part of a LO’s interest in land. It contains a warranty that obligates the grantor to indemnify the grantee for loss caused by any claim against the title, whether a claim of ownership interest or a lien or other encumbrance, regardless of when or under whom the claim arose

22
Q

What is a special warranty deed?

A

The grantor’s warranty protects the grantee against only claims of persons deriving their itnerest in property through the grantor

23
Q

What is the test for an urban homestead exemption?

A

It is located within the limits of a municipality or its extraterritorial jurisdiction or a platted subdivision; and served by police protection, paid or volunteer fire protection; and at least three services provided by the municipality: electric, natural gas, sewer, storm sewer, or water

24
Q

What qualifies as a rural homestead?

A

Any property that does not qualify as an urban property

25
Q

Who can claim a rural homestead and how many acres are they allowed?

A

Family can claim 200 acres used for purposes of a home not improvements, not in a city, town, or village. A single adult can claim 100 acres. If person has more than the limited acreage, he must describe the area designated as a homestead.

26
Q

What is a warranty of title?

A

covenants or warranties of title are assurance, guarantees, promises, or representations made by the grantor to the grantee with respect to the property.