Study sets matching "real property"

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Study sets matching "real property"

307 terms
Real Property
True or False:... Contingent Remainders,…
In a case of a will, the perpetuities…
If O conveys property " to A for life,…
If A, B and C own property as joint te…
True.
the testator dies.
Shifting Executory Interest
C owns a 2/3 interest, and D owns a 1/3 interest
True or False:... Contingent Remainders,…
True.
In a case of a will, the perpetuities…
the testator dies.
Real Property
Fee Simple Determinable... (duration la…
*Fee Simple Subject to Condition Subse…
Life Estate
What 3 future interest can a grantor
Possibility of Reverter ... (!) Automatic right
Right of Entry
Grantor => has a Reversion... 3rd parties => have a Remainder
(1) Possibility of Reverter ... (2) Right of entry... (3) Reversion
Fee Simple Determinable... (duration la…
Possibility of Reverter ... (!) Automatic right
*Fee Simple Subject to Condition Subse…
Right of Entry
5 terms
Real property
Real property
Appurtenance
Improvements
Mineral rights
Land, improvements, attached to the land, benefits, rights, a…
Describes rights, privileges, or improvements that belong to…
Man's additions to the land such as buildings and landscaping…
May or may not be included in the sale of real property - con…
Real property
Land, improvements, attached to the land, benefits, rights, a…
Appurtenance
Describes rights, privileges, or improvements that belong to…
8 terms
Real Property
Bundle of rights
Real property
Constructive severance
Doctrine of emblements
The combined rights, tangible and intangible, that are associ…
Land and everything attached or appurtenant to the land. Also…
When an interest in the land has been sold or transferred sep…
The rise of a tenant farmer, under a lease of unspecified len…
Bundle of rights
The combined rights, tangible and intangible, that are associ…
Real property
Land and everything attached or appurtenant to the land. Also…
140 terms
Real property
1. Estates in Land ... Define Fee Simple…
1.Estates in Land ... A determinable esta…
1.Estates in Land ... A determinable esta…
1.Estates in Land ... An estate subject t…
A fee simple absolute is the largest possible estate in land,…
automatically on the happening of a named future event ("to A…
a possibility of reverter, which may be implied.
the estate is retaken by the grantor or a third party on the…
1. Estates in Land ... Define Fee Simple…
A fee simple absolute is the largest possible estate in land,…
1.Estates in Land ... A determinable esta…
automatically on the happening of a named future event ("to A…
112 terms
Real Property
Land Sales Transaction: Installment Co…
Land Sales Transaction: Financing Cont…
Land Sales Transaction: Statute of Fra…
LST: Adequate description of land: Rea…
contract for deed: seller allows buyer to make payments and o…
Purchase Money Mortgage... 3rd Party Financing... *require seller t…
Any LST (deed and contract) must be:... in writing (may take any…
clear enough to understand w/o parol evidence... outside of a to…
Land Sales Transaction: Installment Co…
contract for deed: seller allows buyer to make payments and o…
Land Sales Transaction: Financing Cont…
Purchase Money Mortgage... 3rd Party Financing... *require seller t…
Real Property
Present possessory estates
Fee simple absolute
Fee simple determinable
Fee simple subject to condition subseq…
(1) Fee simple absolute;... (2) fee simple determinable;... (3) fee…
The largest estate recognized by law; of potentially infinite…
Terminates upon the happening of a stated event and automatic…
An estate in which the grantor reserves the right to terminat…
Present possessory estates
(1) Fee simple absolute;... (2) fee simple determinable;... (3) fee…
Fee simple absolute
The largest estate recognized by law; of potentially infinite…
16 terms
Real Property
Conveyance of Real Property
Joint Tenancy
Severance of Joint Tenancy
Assignment & Subleases (generic opening)
To transfer a real property interest, the grantor must demons…
A joint tenancy exists when two or more individuals own prope…
Although an interest in a joint tenancy cannot be devised, jo…
Absent contrary language, a lease can be freely assigned or s…
Conveyance of Real Property
To transfer a real property interest, the grantor must demons…
Joint Tenancy
A joint tenancy exists when two or more individuals own prope…
19 terms
Real Property
Real property
Mineral right
Water right
Fixture
Also known as realty. Includes land, things permanently attac…
The right to dig or mine the earth.
Control of water on the surface or under the ground as part o…
Personal property that is permanently attached to realty.
Real property
Also known as realty. Includes land, things permanently attac…
Mineral right
The right to dig or mine the earth.
22 terms
Real Property
adverse possession
attractive nuisance
conditional estate
conveyance
A person takes possession & use of a property belonging to an…
A dangerous place, condition, or object that is particularly…
An ownership interest in which the holder has the same intere…
The transfer of title to land from one party to another.
adverse possession
A person takes possession & use of a property belonging to an…
attractive nuisance
A dangerous place, condition, or object that is particularly…
Real Property
Land Sales Transaction: Installment Co…
Land Sales Transaction: Financing Cont…
Land Sales Transaction: Statute of Fra…
LST: Adequate description of land: Rea…
contract for deed: seller allows buyer to make payments and o…
Purchase Money Mortgage... 3rd Party Financing... *require seller t…
Any LST (deed and contract) must be:... in writing (may take any…
clear enough to understand w/o parol evidence... outside of a to…
Land Sales Transaction: Installment Co…
contract for deed: seller allows buyer to make payments and o…
Land Sales Transaction: Financing Cont…
Purchase Money Mortgage... 3rd Party Financing... *require seller t…
Real Property
Life Estate Pur Autre Vie
Life Estate
Rights and Duties of Life Tenant- Doct…
Reversion
A Life Estate pur autre vie is a life estate measured by the…
an estate for life is an estate that is not terminable at any…
A tenant for life is entitled to all the ordinary uses and pr…
Future interest in a life estate if held by the GRANTOR. Aris…
Life Estate Pur Autre Vie
A Life Estate pur autre vie is a life estate measured by the…
Life Estate
an estate for life is an estate that is not terminable at any…
18 terms
Real Property
Ownership Interests
Landlord-Tenant Relationship
Nonpossessory Rights in Land
Real Estate Contract
1) Present possessory estates ... 2) Future Interests ... 3) Co-Ten…
1) Duties and rights of tenants and landlords ... 2) Lease trans…
1) Real covenants ... 2) Easements... 3) Profits ... 4) Fixtures ... 5) Z…
1) Statute of Frauds ... 2) Marketable Title ... 3) Equitable conve…
Ownership Interests
1) Present possessory estates ... 2) Future Interests ... 3) Co-Ten…
Landlord-Tenant Relationship
1) Duties and rights of tenants and landlords ... 2) Lease trans…
127 terms
Real Property
Land
Real Estate
Real Property
Improvements
Earth's surface to center of the earth and the airspace above…
Land plus permanent human made additions
Real estate plus the bundle of legal rights.
Items affixed to the land with the intent of being permanent.
Land
Earth's surface to center of the earth and the airspace above…
Real Estate
Land plus permanent human made additions
117 terms
Real Property
Zoning
Variance
Special use permit
Zoning as taking:
Zoning: ... 1) state power to reas control land use for health,…
Variance: ... 1) permission to depart fr Z due to undue hardship…
Special use permit: hospital, business, funeral homes
Zoning as taking: ... govt must pay damages to landowner
Zoning
Zoning: ... 1) state power to reas control land use for health,…
Variance
Variance: ... 1) permission to depart fr Z due to undue hardship…
27 terms
Real Property
Termination of an Easement
First-In-Time, First-In-Right Principle
Constructive Notice
Inquiry Notice
An easement may be terminated by (1) estoppel (when the servi…
Under common law, a grantor can convey only those rights in l…
A purchaser is placed on constructive notice of all informati…
Inquiry notice exists when knowledge is imputed to a buyer fr…
Termination of an Easement
An easement may be terminated by (1) estoppel (when the servi…
First-In-Time, First-In-Right Principle
Under common law, a grantor can convey only those rights in l…
Real Property
Pure Notice Statue
Shelter Rule
Pure Notice Statute example
Race Notice Statute
allows subsequent purchasers for value and without notice of…
allows a person who takes from a bona fide purchaser
Any conveyance of an estate in land, other than a lease for l…
"Any conveyance of an interest in land shall not be valid aga…
Pure Notice Statue
allows subsequent purchasers for value and without notice of…
Shelter Rule
allows a person who takes from a bona fide purchaser
168 terms
Real Property
Fee Simple Absolute
Fee Simple Determinable
Fee simple subject to a condition subs…
Fee Simple Subject to Executory Interest
Is an absolute ownership of potentially infinite duration.
Present fee simple estate that is limited by specific duratio…
Is a present fee simple that is limited in duration by specif…
Is a present fee simple estate that is limited in duration by…
Fee Simple Absolute
Is an absolute ownership of potentially infinite duration.
Fee Simple Determinable
Present fee simple estate that is limited by specific duratio…
46 terms
Real Property
fee simple
fee simple determinable
fee simple subject to condition subseq…
fee simple subject to executory interest
absolute ownership; no future interest
Ownership terminates upon condition (duration all language) a…
Ownership terminates upon condition (conditional language). G…
Ownership terminates upon condition (any language)and then pa…
fee simple
absolute ownership; no future interest
fee simple determinable
Ownership terminates upon condition (duration all language) a…
65 terms
Real Property
Concurrent Estates
Concurrent Estates - JT
Concurrent Estates - TE
Concurrent Estates - TC [presumption]
1. Tenancy in Common [TC]... 2. Joint Tenancy [JT]... 3. Tenancy by…
JT is created where the four unities and the right of survivo…
A TE is created in the same manner as a JT, with the addition…
TIC is the property law presumption where terms are ambiguous…
Concurrent Estates
1. Tenancy in Common [TC]... 2. Joint Tenancy [JT]... 3. Tenancy by…
Concurrent Estates - JT
JT is created where the four unities and the right of survivo…
Real Property
marketable title
unmarketable title
Lohmeyer v Bower
caveat emptor
reasonable free from doubt as to validity, purchase without f…
1) sellers property interest is less than one she purports to…
violations of city ordinances as well as violation of HA rest…
buyer beware. seller has no duty to disclose defects
marketable title
reasonable free from doubt as to validity, purchase without f…
unmarketable title
1) sellers property interest is less than one she purports to…
6 terms
Real Property
Riparian Rights Doctrine
"Covenants Running With the Land"
LICENSE
Tenancy in Common
Each owner of land whose land borders on a stream has a ripar…
A covenant runs with the land when the burdens and/or benefit…
a personal, revocable privilege to enter upon the licensor's…
NO rigt of survivorship!! Tenancy in common only requires ONE…
Riparian Rights Doctrine
Each owner of land whose land borders on a stream has a ripar…
"Covenants Running With the Land"
A covenant runs with the land when the burdens and/or benefit…
134 terms
Real Property
Covers through p. 80 (could use Critic…
The Present Estates/Freehold Estates
The Present Estates/Freehold Estates
Fee Simple Absolute
...
1. Fee Simple Absolute... 2. Fee Tail... 3. Defeasible Fees (3 type…
The Bar will expect you know three things with respect to eac…
1) "To A" or "To A and his heirs"... 2) Absolute ownership of po…
Covers through p. 80 (could use Critic…
...
The Present Estates/Freehold Estates
1. Fee Simple Absolute... 2. Fee Tail... 3. Defeasible Fees (3 type…
11 terms
Real property
Fee simple absolute
Defeasible fee simple
Fee simple determinable
Fee simple subject to condition subseq…
Under common law, an estate in fee simple is an absolute owne…
Under common law, a defeasible fee simple is an estate subjec…
Under common law, fee simple determinable is an estate that a…
Under common law, a fee simple aubject to condition subsequen…
Fee simple absolute
Under common law, an estate in fee simple is an absolute owne…
Defeasible fee simple
Under common law, a defeasible fee simple is an estate subjec…
Real Estate and Real Property
ad valorem tax
allodial
appurtenance
bundle of rights
a tax levied according to value, generally used to refer to r…
is a concept of land ownership which recognizes complete or a…
anything that attaches to the land and transfers with the lan…
the variety of rights associated with the ownership of real e…
ad valorem tax
a tax levied according to value, generally used to refer to r…
allodial
is a concept of land ownership which recognizes complete or a…
Real Property
Adverse possession
For adverse possession to exist, posse…
Actual possession
open and notorious possession
The use or enjoyment of real property with a claim of right w…
1. Actual... 2. Open and notorious... 3. Adverse under a claim of r…
lack of legal title but possession of the property nonetheless
possession of land is such that legal owner knows or should k…
Adverse possession
The use or enjoyment of real property with a claim of right w…
For adverse possession to exist, posse…
1. Actual... 2. Open and notorious... 3. Adverse under a claim of r…
70 terms
Real Property
What does a fee tail look like and wha…
What are the three defeasible fees?
What does a fee simple determinable lo…
What does a fee simple subject to cond…
"To A and the heirs of his body." ... Only A's lineal blood des…
1) Fee Simple Determinable ... 2) Fee Simple Subject to Conditio…
"To A for so long as," "To A during," "To A until."... Clear du…
"To A, but if X event occurs, grantor reserves the right to r…
What does a fee tail look like and wha…
"To A and the heirs of his body." ... Only A's lineal blood des…
What are the three defeasible fees?
1) Fee Simple Determinable ... 2) Fee Simple Subject to Conditio…
Real Property
Real Property
Bundle of Rights
Land
Real Estate
Land, Any Fixture, or Improvements attached to the land, & ri…
interests and rights associated with the ownership of land.…
one of the basic components of Real Property... *It is not just…
Encompasses the land along with any fixtures
Real Property
Land, Any Fixture, or Improvements attached to the land, & ri…
Bundle of Rights
interests and rights associated with the ownership of land.…
49 terms
REAL PROPERTY
What are the rights & duties of a life…
When can the life tenant commit waste?
What is the rule of convenience?
What is the effect of the cy pres doct…
Tenant is to maintain the estate; if they do more, they have…
If changed conditions have made the property relatively worth…
A class closes when any member of the class is entitled to a…
In Texas a court can shorten the time when vesting could occu…
What are the rights & duties of a life…
Tenant is to maintain the estate; if they do more, they have…
When can the life tenant commit waste?
If changed conditions have made the property relatively worth…
225 terms
Real Property
When may a grantee put restrictions on…
When may a grantee put restrictions on…
O to A; what does A have?
What words create a fee simple determi…
Never; these are VOID. However, reasonable restraints are OK…
At will; these are VALID but must be made EXPLICIT for them t…
FSA; courts presume fee simple
So long as, during, while, until (i.e. words of duration)
When may a grantee put restrictions on…
Never; these are VOID. However, reasonable restraints are OK…
When may a grantee put restrictions on…
At will; these are VALID but must be made EXPLICIT for them t…
137 terms
Real Property
Present Freehold Estates
Fee Simple Absolute
Fee Tail
Defeasible Fees
1. Fee Simple Absolute... 2. Fee Tail... 3. Defeasible Fees:... - Fee…
"To A" or "To A and his heirs"... 1. Absolute ownership of po…
"To A and the heirs of his body"... 1. Historically, fee tail…
Fee simple estates (of potentially infinite duration) that ca…
Present Freehold Estates
1. Fee Simple Absolute... 2. Fee Tail... 3. Defeasible Fees:... - Fee…
Fee Simple Absolute
"To A" or "To A and his heirs"... 1. Absolute ownership of po…
19 terms
Real Property
Land
Real estate
Real property
Bundle of rights
Surface, all natural things attached to it, subsurface and ai…
Land + manmade permanent attachments.
Real estate + bundle of legal rights
"PUTEE" ... Possess ... Use... Transfer ... Exclude ... Encumber
Land
Surface, all natural things attached to it, subsurface and ai…
Real estate
Land + manmade permanent attachments.
33 terms
Real property
Real property
Appurtenances
Real property rights
Lot, block and subdivision
Is Land plus improvements transferred by deed, extends from c…
Are the Rights, benefits and improvements that run with the l…
Are things like Mineral rights, water rights and air rights
Describes the Recorded plat map, subdivision regulations, pub…
Real property
Is Land plus improvements transferred by deed, extends from c…
Appurtenances
Are the Rights, benefits and improvements that run with the l…
Real Property
Real Property Includes
Freehold Estates
Quit Claim Deed
Warranty Deed
1) Land... 2) Buildings... 3) Subsurface rights... 4) Air rights... 5) Pl…
Owner has current right to possess property and use it in any…
A way to transfer property interest. Includes grantor, grante…
Real warranty--guarantees that grantor has real ownership.…
Real Property Includes
1) Land... 2) Buildings... 3) Subsurface rights... 4) Air rights... 5) Pl…
Freehold Estates
Owner has current right to possess property and use it in any…
55 terms
Real Property
Fee Simple Absolute
Defeasible Estate
Fee Simple Determinable
Fee Simple Subject to a Condition Subs…
- Largest possible estate in land, denoting all possible righ…
- An estate that may terminate before its maximum duration ha…
- Estate terminating automatically upon the happening of a na…
- Estate may be cut short if it is retaken by the grantor/3d…
Fee Simple Absolute
- Largest possible estate in land, denoting all possible righ…
Defeasible Estate
- An estate that may terminate before its maximum duration ha…
Real Property
Real Property
2 types of property
Types of Tangible properties
Personal Property
Anything tangible or intangibly whereby a relationship exsist…
1. Tangible... 2. Intangible
1. Personal Property... 2. Real Property
What is movable
Real Property
Anything tangible or intangibly whereby a relationship exsist…
2 types of property
1. Tangible... 2. Intangible
real property
fee simple determinable
fee simple subject to condition subseq…
reversion
vested remainder
durational key words:... so long as... during... while... until... ends aut…
conditional key words:... but if... provided... however upon condition…
grantor is going to get it back (for example, O to A for life…
you get it after something happens (for example, to A for lif…
fee simple determinable
durational key words:... so long as... during... while... until... ends aut…
fee simple subject to condition subseq…
conditional key words:... but if... provided... however upon condition…
Real property
Ownership Rights ... Bundle of rights
Fixtures
Fee simple estate
Fee simple defeasible
The right to control ... The possession , enjoyment, exclude, an…
Maria... Method... Adaptability ... Relationship... Intention... Agreement
Duration Indefinite ... inheritable... Transferable
Outlawed-------Conveys ownership Subject to a condition w/ Au…
Ownership Rights ... Bundle of rights
The right to control ... The possession , enjoyment, exclude, an…
Fixtures
Maria... Method... Adaptability ... Relationship... Intention... Agreement
Real Property
Fee Simple
Fee Simple Determinable
What future interest follows a Fee Sim…
Fee Simple to Condition Subsequent
Default estate that last forever
Limited by a specific duration... Look for words like: ... so long…
Possibility of reverter... Interest vest automatically
Limited by a specific conditional language... but if... provided... on…
Fee Simple
Default estate that last forever
Fee Simple Determinable
Limited by a specific duration... Look for words like: ... so long…
Real Property
What are the rights and duties of a li…
What are the three types of waste?
When can a life tenant commit waste?
What is the Rule of Convenience?
Rights - The right to possess the property for his life and t…
Voluntary - Doing something that is beyond the rights of main…
If changed conditions have made the property relatively worth…
A class closes when any member of the class is entitled to a…
What are the rights and duties of a li…
Rights - The right to possess the property for his life and t…
What are the three types of waste?
Voluntary - Doing something that is beyond the rights of main…
Real Estate: Real Property
Real property
Severance
Emblements
Appurtenance
Land- anything affixed to land and anything incidental or app…
The separation of fixtures or other attachments from real pro…
Crops, such as wheat, produced annually through the labor of…
A right incidental to the land that is transferred with it
Real property
Land- anything affixed to land and anything incidental or app…
Severance
The separation of fixtures or other attachments from real pro…
Real property
Real property
Real estate
Personal property
Leasehold improvement
Is land and its attachments, as well as all the rights associ…
Actual physical land and everything both natural and man-made…
Is most easily defined as any property that is not real prope…
A fixture installed by a landlord for the use of a tenant
Real property
Is land and its attachments, as well as all the rights associ…
Real estate
Actual physical land and everything both natural and man-made…
25 terms
Real Property
Valid Deed
Joint Tenancy
Severance of Joint Tenancy
Duty to Pay Rent
To transfer a real property interest, the grantor must demons…
A joint tenancy exists when two or more individuals own prope…
Although an interest in a joint tenancy cannot be devised, jo…
Every tenant has the duty to pay rent. This is a covenant tha…
Valid Deed
To transfer a real property interest, the grantor must demons…
Joint Tenancy
A joint tenancy exists when two or more individuals own prope…
Real Property
Fee simple
Conditional Estate
Life estate/remainder interest
Future interest
ITS MINE, ownership of property is complete
Owner holds title to property as long as stated condition occ…
I own the property for my life time, then pass it to someone…
Some interest in the property has not been triggered yet, con…
Fee simple
ITS MINE, ownership of property is complete
Conditional Estate
Owner holds title to property as long as stated condition occ…
5 terms
Real Property
Fee Simple Determinable and Possibilit…
Fee Simple Determinable subject to and…
"Equitable" Mortgage
Part Performance
terminates on the happening of a stated event and automatical…
A Fee simple determinable is an estate that upon the happenin…
If a deed is given for security purposes rather than as an ou…
(e.g., possession, substantial improvements, payment of purch…
Fee Simple Determinable and Possibilit…
terminates on the happening of a stated event and automatical…
Fee Simple Determinable subject to and…
A Fee simple determinable is an estate that upon the happenin…
Real Property
Real Property - Present Possessory Est…
Real Property - Duties between parties…
Real Property - Types of Waste
Real Property - Rights and Duties of C…
See handout in Bar Exam Folder.
1. Life tenant is entitled to ordinary uses but cannot injure…
1. Affirmative waste: intentionally damages premises.... 2. Perm…
1. In most states, don't have to share profits from unilatera…
Real Property - Present Possessory Est…
See handout in Bar Exam Folder.
Real Property - Duties between parties…
1. Life tenant is entitled to ordinary uses but cannot injure…
96 terms
Real Property
Real property
Land
Bundle of Rights
Appurtenances
land, anything affixed to land, anything incidental or appurt…
solid part of surface of earth, everything affixed to it by n…
rights or privileges and interests associated with land owner…
rights or interests that go along with pertain to a piece of…
Real property
land, anything affixed to land, anything incidental or appurt…
Land
solid part of surface of earth, everything affixed to it by n…
36 terms
Real Property
Elements of Real Property
Land
Plant Life
Fixtures
Land, Buildings, Plant Life, Fixtures
the most common and important form of real property, includes…
whether naturally occurring or cultivated crops, automaticall…
goods that have become attached to real property, nailed down…
Elements of Real Property
Land, Buildings, Plant Life, Fixtures
Land
the most common and important form of real property, includes…
Real property
Appurtenance
Riparian rights
Doctrine of prior appropriation
Littoral (lake)
Attached and run with the land and transfers with the deed.
If navigable, the property line is the edge of the water. If…
Government controls water rights and grams permits for benefi…
Property line is the average high water mark.
Appurtenance
Attached and run with the land and transfers with the deed.
Riparian rights
If navigable, the property line is the edge of the water. If…
Real Property
Present Possessory Estate
Future Interest of FSD
Future Interest of FSSCS
Future Interest of FSSEI
FSA, FS Determinable, FS Subject to Condition Subsequent, FS…
Possibility of Reverter (auto to grantor) (for so long as, du…
Right of Entry (right to Grantor); (provided, however, but if…
Third party (shifting, or springing)
Present Possessory Estate
FSA, FS Determinable, FS Subject to Condition Subsequent, FS…
Future Interest of FSD
Possibility of Reverter (auto to grantor) (for so long as, du…
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