Week 4 - Easements and Covenants Flashcards
A _________ is made where the 20-foot easement never existed before and is being newly created in this transaction.
reservation
Both involve provisions in a deed conveying property.
Reservation
Exception
A reservation is made where the 20-foot easement _____ _______ ______ and is being newly created in this transaction.
never existed before
A reservation is made where the ___ ____ _________ never existed before and is being newly created in this transaction.
never existed before
For example: O owns the land and is selling a part of it. He never needed an easement before because he owned it all. Now that he’s selling the parcel next to the lake, he needs an easement so that he can still access the lake.
Reservation
O owns the whole waterfront parcel, but then O kid graduates and wants to go to college and O doesn’t want their kid to have debt. O cuts the property in half and sell the waterfront part to A. that is the valuable part. O is used to living on the water and O likes to go swimming and O wants to keep access. O __________ an easement in favor of themselves to be able to cross the new parcel.
reserves
From O’s perspective the 20-foot easement that is being created that never existed before is called a _________. O is ________ an easement that allows him to walk to the water on the same path he has always walked.
reservation
reserving
O’s house has always been right here, so it wasn’t too big of a problem because he doesn’t have to move but wants to keep the access.
O has the __________ but from A’s perspective A is getting all the rights to this waterfront parcel except that part O is going to have access to that easement. Same 20-foot strip of land different name for it depending on whose perspective you are looking at it from.
reservation
The ________ is where O used to own the whole thing but is selling part of it and wants to reserve the right to walk across the land (the part he is selling) to get to the water.
reservation
A’s interest when we think about property 1 and when you buy land you get the FSA. All of the rights to the land.
A is getting all the rights to the waterfront parcel except this 20-foot easement that has been created and this conveyance to A is being made subject to the easement. A buys knowing that O is going to walk across that 20 foot strip the whole time.
________ – O.
__________ – A’s interest.
reservation
exception
Record notice from property 1. O is going to want to record the easement because O wants to make sure that the ability to get to the water runs with the land. The parcel that O has retained is much more valuable if everybody knows that whoever owns it can get to the water.
If it has been recorded A knows whether A went and checked because of the concept of ____ ______.
record notice
An _________ is made where the 20-foot easement had been previously created and the present conveyance is specifying that the grantor is not including such interest in the grant and that the present conveyance is being made subject to the easement.
exception
An exception is made where the 20-foot easement had been ______ ________ and the present conveyance is specifying that the grantor is not including such interest in the grant and that the present conveyance is being made subject to the easement.
previously created
For example: I’m selling this land to you, but you need to know that this person “Mrs. Easement Holder” is going to be walking across your land to get to the land.
exception
An easement can be reserved in favor of a third party.
MINORITY RULE