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Study sets matching "real property"

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Study sets matching "real property"

18 terms
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
45 terms
Real Property
Property
Real Property
Personal Property
Fixtures
the right to posses, use, and enjoy a determinate thing
land and anything growing on attached to, or erected on it.
Any movable or intangible property
goods that become attached to real property. An object is a f…
Property
the right to posses, use, and enjoy a determinate thing
Real Property
land and anything growing on attached to, or erected on it.
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…
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…
51 terms
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…
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…
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…
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…
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.
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
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…
27 terms
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
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…
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…
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…
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…
41 terms
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…
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…
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…
11 terms
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…
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.
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…
9 terms
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.…
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…
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…
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…
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…
34 terms
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…
21 terms
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
10 terms
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…
13 terms
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
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…
31 terms
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…
8 terms
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…
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…
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…
25 terms
Real Property
Appurtenances
Chattels
Fructus naturales
Fructus industriales
rights, benefits, and improvements that run with the land
Personal Property
classified as real property
considered personal property (cultivated annual crops)
Appurtenances
rights, benefits, and improvements that run with the land
Chattels
Personal Property
16 terms
Real Property
Rule Against Perpetuities
Restraints on Alienation
Joint Tenancy
Implied Warranty of Habitability
No interest in property is valid unless it must vest, if at a…
There are three types of restraints on alienation: (a) disabl…
A joint tenancy is a concurrent estate in land with the right…
Traditionally at common law, the landlord had no duty to deli…
Rule Against Perpetuities
No interest in property is valid unless it must vest, if at a…
Restraints on Alienation
There are three types of restraints on alienation: (a) disabl…
295 terms
Real Property
Define fee simple absolute:
Rule on restraints on alienability:
Exception to rule prohibiting restrain…
Courts ill presume a fee simple was gr…
Fully alienable and potentially lasts forever
Generally, any attempt to put a direct restraint on alienatio…
Rights of first refusal
Language shows clear intent to do otherwise
Define fee simple absolute:
Fully alienable and potentially lasts forever
Rule on restraints on alienability:
Generally, any attempt to put a direct restraint on alienatio…
16 terms
Real Property
Decedent
Testate and intestate
Heirs
Devise
Dead person
Dies with a will/without a will
The people who inherit real property from a decedent who dies…
Pass real property by will
Decedent
Dead person
Testate and intestate
Dies with a will/without a will
40 terms
Real Property
Fee Simple Absolute... FSA
Fee Tail... FT
Fee Simple Determinable... FSD
Fee Simple Subject to Condition Subseq…
To A and his heirs; To A... Absolute ownership... Devisable, descen…
To A and the heirs of his body... Lasts as long as there are lin…
To A so long as ...... Indefinite as long as event does not occu…
To A, but if X happens, grantor reserves right to reenter... Ind…
Fee Simple Absolute... FSA
To A and his heirs; To A... Absolute ownership... Devisable, descen…
Fee Tail... FT
To A and the heirs of his body... Lasts as long as there are lin…
10 terms
Real Property
Riparian rights ... (Stream)
Littoral rights... (River ocean etc)
Doctrine of prior appropriate
Personal property (aka chattels)
Common law rights granted to owners of land along the course…
Owners who land borders commercially navigable lakes, seas an…
Where water is scarce (insufficient), ownership & use of wate…
All property that can be owned & that does not fit the defini…
Riparian rights ... (Stream)
Common law rights granted to owners of land along the course…
Littoral rights... (River ocean etc)
Owners who land borders commercially navigable lakes, seas an…
15 terms
Real Property
What is real property?
3 types of interest in real property
The essence of real property ownership…
3 types of land ownership:
Historically the most expensive property. Land and anything t…
1. Surface: land and structure... 2. Air Space & Sub service: hi…
Owned, held, possessed
1. Fee Simple Absolute... 2. A Life Estate... 3. Concurrent Ownership
What is real property?
Historically the most expensive property. Land and anything t…
3 types of interest in real property
1. Surface: land and structure... 2. Air Space & Sub service: hi…
16 terms
real property
In a jurisdiction that follows the ___…
the warranty of fitness or suitability…
To transfer a real property interest,…
A deed to a nonexistent grantee is ___…
lien theory
new; commercial
intent to make a present transfer; must accept
void
In a jurisdiction that follows the ___…
lien theory
the warranty of fitness or suitability…
new; commercial
15 terms
Real Property
Fee Simple Absolute
Life Estate
Reversion
Remainder
Under common law, an estate in fee simple is an absolute owne…
Under common law, a life estate is an estate that is measured…
Under common law, a reversion is an interest by the grantor w…
Under common law, a remainder is a future interest created in…
Fee Simple Absolute
Under common law, an estate in fee simple is an absolute owne…
Life Estate
Under common law, a life estate is an estate that is measured…
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