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Front | Back | ||
PRESENT ESTATES 3
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1. Fee Simple Absolute
2. Defeasible Fees 3. Life Estate | ||
FEE SIMPLE ABSOLUTE
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Absolute Ownership freely Deviseable, Descendable & Alienable
"O To A" | ||
DEFEASIBLE FEES 3
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1. Fee Simple Determinable: FSDPOR
i. Durational Language & forfeiture is automatic (So long as, during, until) ii. Possibility of Reverter 2. Fee Simple Subject to Condition Subsequent: i. Subsequent Condition Occurs, Right of ReEntry 3. Fee Simple Subject to Executory Interest: i. Automatic Forfeiture to someone other than Grantor ii. Shifting Executory Interest ABSOLUTE RESTRAINTS ON ALIENATION ARE VOID | ||
LIFE ESTATE
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O To A for Life
O=Reversion Interest If held by a 3rd Party=Remainder i. Life Tenant entitled to Uses & Profits from land but can't commit WASTE. Pur Autre Vie: Life estate measured by a life other than Grantee. O To A for B's life O=Reversion Interest | ||
WASTE: VPA
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1. Voluntary: Willful Destruction that Decreases Value of Prop
i. Exception: Natural Resources (PURGE) PU: Prior Use (Open Mines) R: Reasonable Repairs G: Grant E: Exploitation 2. Permissive: Land allowed to fall into Disrepair i. Maintain Premises ii. Pay All Ordinary Taxes 3. Ameliorative: No Enhancements i. Exception: Future interest holders known & Consent | ||
FUTURE INTEREST in GRANTOR 3
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1. Possibility of Reverter: Only FSDPOR
2. Right of ReEntry: Only FSSCS 3. Reversion: Future Interest in Grantor who transfers less than he started with | ||
FUTURE INTEREST in TRANSFEREES 3
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1. Vested Remainder
2. Contingent Remainder 3. Executory Interest | ||
Vested Remainder
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1. Indefeasibly Vested Remainder
i. Holder of remainder is certain to acquire estate w/no conditions attached by Will or Intestacy 2. Vested Remainder Subject to Complete Defeasance i. Right to possession is subject to Condition Subsequent 3. Vested Remainder Subject to Open i. Group of Takers & Class is Open if more can join the Group | ||
Contingent Remainder
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i. Rule of Destructibility (Abolished): Remainder is destroyed if event doesn't occur in time.
ii. Rule In Shelly's Case (Abolished): Merge present & future interest into FSA iii. Doctrine of Worthier Title: Grantor tries to create future interest in his heirs=Life estate in Grantee & Reversion in Grantor | ||
Executory Interest
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Future interest in 3rd Party which cuts short anothers interest (Shifiting) or in the Grantor or his heirs (Springing)
1. Shifting i. Always follows a Defeasible Fee & cuts short someone other than the Grantor 2. Springing i. Cuts short the Grantors Interest | ||
RAP
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Future Interest are void if the interest may vest more than 21 years after the death of a measuring life.
I. A gift to an open class that is conditioned on the members surviving to an age beyond 21 violates the common law RAP II. Many Shifting Executory Interest violate the RAP. An Executory Interst w/no limits on the time w/in which it must vest violates the RAP. Charity to Charity Exception To A for life, then to A's Children (A is alive w/no children) 1. Contingent Remainders, Executory Interest & Vested Remainders Subject to Open 2. Identify Conditions Precedent to the vesting of the Suspect Future Interest (A must die leaving a child) 3. Find a Measuring Life (Look for person alive at conveyance & whether their life or death is relevant to conditions occurrence) (A) 4. Will we know w/in 21 years of death of measuring life, if future interest holders can take? (Conveyance is Good, becuase we will know at A's Death if A has left a child) | ||
CONCURRENT ESTATES 3
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1. Joint Tenancy
2. Tenancy By the Entirety 3. Tenancy In Common | ||
Joint Tenancy
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1. Right of Survivorship (Must be clearly expressed by Grantor)
2. Not Diviseable or Descendable Creation: T-TIP 1. Time 2. Title 3. Identical Shares 4. Possess the Whole Termination: SPAM 1. Sale (JT may sell or transfer interest) 2. Partition, And (Voluntary, Partition in Kind, Forced Sale) 3. Mortgage i. Lien Theory (Majority): Will not Sever JT ii. Title Theory: Severs JT as to morgatee's share | ||
Tenancy by The Entirety
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Married partners w/Right of Survivorship (H&W)
i. Only 21 States: Presumptively in any conveyance to married partners, unless stated otherwise ii. CANT TOUCH THIS! a. Creditors: Of only 1 spouse can't touch this b. Unilateral Conveyance: Nullity | ||
Tenancy In Common
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1. Each Co-Tenant owns Individual Part & Right to Possess the Whole
2. Interest is Descendable, Divisible & Alienable 3. Presumption Favors TIC | ||
Rights & Duties Co-Tenants: CRAP RIP W
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1. Possession: Each has a right to Possess the Whole
i. Ouster: Wrongfully excluding a Co-Tenant from possession of a whole or part 2. Rent: i. Right to Rent from 3rd Parties proportional to Co-Tenants Share ii. No right to rent from Co-Tenants in Exclusive Possession iii. PROFITS: Co-tenant in possession has the Rt to retain profits by his use of the prop 3. Adverse Possession: Cannot acquire Adverse possession unless Ousted 4. Carrying Costs: Each responsible for their fair share of taxes, Mortgage payments based proportionaly to undivided share 5. Repairs: Contribution for necessary & reasonable repairs 6. Improvements: No right to Contribution. i. At partition entitled to Credit 7. Waste: No waste by VPA i. Co-Tenant may bring action during co-tenancy 8. Partition: Voluntary Agreement, Partition, Forced Sale | ||
LANDLORD/TENANT LAW 4
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1. Tenancy For Years:
i. Fixed period of time ii. Termination date known from start iii. No notice required to End iv. Greater than 1 year must be in writing: SOF 2. Periodic Tenancy (Implication) i. Successive Intervals ii. Interval determines Notice Requirement iii. Holdover 3. Tenancy At Will i. No Fixed Duration ii. Payment of regular rent will create Implied Periodic Tenancy iii. Terminated at any time 4. Tenancy At Sufferance i. Wrongfully Held Over ii. Lasts until L evicts or holds T as new tenant | ||
TENANTS DUTIES 3
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1. Liability to 3rd Parties
i. Reasonable Good Repair ii. T liable to Licensee for injuries even if L promised to repair 2. Duty to Repair i. Maintain premises & Make Ordinary Repairs ii. No Waste: VPA iii. Fixtures Pass w/Land: Unles Removal does not Substantial Harm Premises iv. CL: T Liable for ANY Damage, including Force of Nature Majority: T may terminate lease if premises destroyed w/out T's fault 3. Pay Rent i. T breaches & in Possession: LL can evit or Continue & Sue ii. LL MUST NOT: Self help iii. T breaches & out of Possession: SIR Surrender, Ignore & Re-Let | ||
LANDLORD'S DUTIES 3
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1. Duty to Deliver
i. Majority: Physical Possession ii. Minority: Legal Possession 2. Implied Covenant Quiet Enjoyment i. Residential & Commercial ii. Actual: Wrongfully Evicts or Excludes from premises iii. Constructive: SING Substantial Interference, Notify & Goodbye iv. LL liable for 3rd Party Acts: NO Exceptions: a. L permits nuisance b. Common Areas 3. Implied Warranty of Habitability i. Residential Only ii. Not Waivable iii. Fit for basic human habitation (water, heat, plumbing). Housing Code iv. MR3 a. Move b. Repair & Deduct c. Reduce Rent d. Remain & Sue v. Retaliatory Conviction: No raising rent, ending lease, harrasing tenant | ||
ASSIGNMENT
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1. L can prohibit Assignment in Lease
i. L waives Rt to object to future assignments when consents to one transfer, unless expressly reseres the Rt ii. L & T2=Privity of Estate, Pay Rent & Repair iii. L & T2 NOT Privity of K unless T2 Assumes all promises iv. L & T1=Privity of K, Secondarily Liable | ||
SUBLEASE
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1. Neither in Privity of estate or K
2. T1 & T2 Liable to eachother 3. L & T1 Liable to eachother | ||
LL TORT LIABILITY
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1. CL: L under no duty to make premises safe
2. Exception: CLAPS i. Common Areas ii. Latent Defects: WARN hidden defects iii. Assumption of Repairs: LL who voluntares to repair must do so w/reasonable care iv. Public Use (Convention Center): LL liable Nature of Defect & Length of Lease v. Short Term Lease of Furnished Dwelling: ANY Defects | ||
EASEMENTS
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1. Appurtenant=2 parcels
i. Passes Automatically unless BFP w/out Notice 2. Gross=1 parcel i. Only transferable for Commercial Purpose PING 1. Prescription i. Adverse Possession COAH 2. Implication i. Implied from existing use 3. Necessity i. Landlocked Setting 4. Grant i. More than 1 year in writing SOF Termination: END CRAMP 1. Estoppel i. Owner relies that easement wont be enforced 2. Necessity i. Expires when need ends unless express grant 3. Destruction i. Servient land destroyed 4. Condemnation i. Eminent Domain ends easement 5. Release i. Written Release 6. Abandonment i. Physical Action intent to terminate 7. Merger i. Both lands under common ownership 8. Prescription i. Servient owner Adverse Possession COAH | ||
LICENSE
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Privilege to enter anothers land for some delineated purpose
i. SOF Does NOT apply ii. Revokable at will unless estoppel ($ or Labor) applies iii. Tickets & Neighbors talking by fence | ||
PROFIT
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Enter the servient land & take soil or substance of the soil
i. Minerals, Timber, Oil ii. All rules of easement apply | ||
COVENANT
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$ Damages=Covenant
Burden: WITHN 1. Writing 2. Intent 3. Touch & Concern 4. Horizontal 5. Notice Benefit: WITV | ||
EQUITABLE SERVITUDE: Common Scheme
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WITNES
1. Writing 2. Intent 3. Touch & Concern 4. Notice: AIR Changed Conditions: Entire Area has changed PRIVITY NOT REQUIRED | ||
ADVERSE POSSESSION
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COAH
1. Continuous i. Uninterrupted ii. Tacking thru privity iii. Disabilities: SOL wont run if owner had disability at start of adverse possession 2. Open & Notorious i. Possession owner would make 3. Actual 4. Hostile i. Doesnt have owners consent POSSESSOR'S SUBJECTIVE STATE OF MIND IS IRRELEVANT | ||
LAND CONVEYANCE: Land Contract
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1. Requirement: Describe Land, Consideration & In Writing signed by party to be bound
2. Part Performance: 2 needed i. Possession ii. Payment all or part iii. Substantial Improvements 3. Equitable Conversion: Buyer bears risk of loss unless K states otherwise 4. Implied Promise: i. Marketable Title at Closing a. Part of land by adverse possession=unmarketable b. Zoning Violation=Unmarketable ii. No False Stmt/Omission of Material Fact a. Disclaimer "as is"=No excuse b. No implied warranties of fitness or habitability c. Exception: Sale of new home by builder of home | ||
LAND CONVEYANCE: Closing
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LEAD
Lawful Execution of A Deed 1. Deed in writing, Signed by Grantor 2. No Consideration needed 3. Description of land: Unambiguous descriptoin & LEAD 4. Delivery: Present Intent 5. Rejection: Defeats Delivery | ||
3 TYPES OF DEEDS
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I. General Warranty: Warrants against all defects in title including from predecessors
1. Seisin 2. Rt to Convey 3. Encumbrances 4. Quiet Enjoyment 5. Warranty 6. Assurances II. Special Warranty: Only applies to Grantor 1. Hasn't conveyed to anyone else 2. Free from Encumbrances made by Grantor III. Quitclaim:No Covenants 1. Implied in Land K to provide Marketable Title at Closing | ||
RECORDING SYSTEM
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1. BFP in NOTICE=Last BFP WINS
2. BFP in RACE/NOTICE=First BFP to record WINS BFP=Purchaser for value (Substantial Pecuniary Value) & W/out Notice (AIR) | ||
SHELTER RULE
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One who takes from a BFP prevails against any entity that the Transferor-BFP would have prevailed against.
Transferee "takes shelter" in the status of the transferor & "steps in the shoes" of the BFP even though he isn't a BFP | ||
WILD DEED
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If a deed, entered on the records, has a grantor unconnected to the chain of title, the deed is a wild deed. It is incapable of giving record notice of its existence.
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ESTOPPEL BY DEED
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One who conveys realty in which he has no interest, is estopped from denying the validity of that conveyance if he later acquires that previously transfered interest.
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MORTGAGES
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1. Debt
2. Voluntary Lien in Debtors land to secure the debt I. Until foreclosure debtor has Title & Rt to possess II. All parties can transfer their interests III. Assume:Buyer is Primarily Liable & Seller is Secondarily Liable IV. Subject To: Buyer no Personal Liability Equitable Mortgage: Instead of executing a note, O gives Creditor a Deed to the Property i. If Creditor sells prop, O can only sue for fraud & sale proceeds Foreclosure: Land is sold if mortgage isn't paid. i. Proceeds go to satisfy the debt ii. Deficiency Judgment if insufficient funds iii. Surplus funds go to Junior Liens iv. Foreclosure destroys all interest junior to the mortgage, but parties w/subordinate interest MUST be given notice of foreclosure. v. Debtor/Mortgagor also necessary party to ction vi. Foreclosure does not affect any interest senior to the mortgate | ||
Mortgage: Priority
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1. Creditor must record to be given priority. First in time, first in right
2. Purchase Money Mortgage: Creditor loans $ to purchase the prop & has 1st priority in the prop 3. Floating Lien: Security interest in any prop the debtor has or acquires | ||
Mortgage: Redemption
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1. Equitable Redemption: Debtor can redeem prop any time prior to the foreclosure sale. Debtor can't waive this right
2. Acceleration Clause: Legal 3. Statutory Redemption: May redeem prop after foreclosure up to 6 months. Only has to pay Foreclsure sale price | ||
LATERAL SUPPORT
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1. Improved land only protected by Negligent neighbor
2. SL: Only if proved land would have collapsed in Natural State | ||
WATER RIGHTS
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1. Riparian (Majority): Water belongs to those who own the land bordering the water.
i. Reasonable use of water ii. Liable if unreasonably interferes w/others use iii. Natural/Domestic use trumps Agricultural/Commercial 2. Prior Appropriation: First to make Beneficial use trumps subsequent users 3. Ground Water: Surface owner entitled to make Reasonable Use of Ground water as long as NOT wasteful 4. Surface Water: Rain, Springs or Melting Snow: COMMON ENEMY RULE i. Landowner may change drainage or improvements on land to comabe surface water, unless unnecessary harm to others land | ||
POSSESSORS RIGHTS
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1. Trespass: Invasion of land by tangible physical object. To remove a trespasser must bring action for ejectment
2. Private Nuisance: Substantial & Unreasonable interference w/anothers use & enjoyment of land (Odors, Noise, etc) i. Hypersensitive: No nuisance available | ||
EMINENT DOMAIN
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1. Gov can take private property for public use in exchange for just compensation
i. Explicit Taking: Acts of Gov Condemnation ii. Regulatory Taking: Leaves no Economic use. Compensate or Terminate Regulation & pay for damage | ||
ZONING
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1. Gov may enanct statutes to reasonably control land use
2. Variance: Permission to depart from zoning ordinance requirement i. Undue Hardship ii. Variance wont decrease neighboring prop. values 3. NonConforming Use: Once lawful, now deemed nonconforming by zoning ordinance. 4. Unconsitutional Exactions: Amenities Gov Seeks in Exchange for granting permission to build | ||
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