Prop new 9

Card Set Information

Author:
Anonymous
ID:
301119
Filename:
Prop new 9
Updated:
2015-04-20 00:45:09
Tags:
Prop new
Folders:
Prop new 9
Description:
Prop new 9
Show Answers:

Home > Flashcards > Print Preview

The flashcards below were created by user Anonymous on FreezingBlue Flashcards. What would you like to do?


  1. RAP applicability
    • 1. Contingent Remainder
    • 2. Executory Interest (unless charity-to-charity)
    • 3. VR/ Subject to Open
    • 4. Options (to repurchase)
  2. Charity Exception RAP
    Charity to Charity no RAP
  3. RAP (Common Law)
    • 1. Life in Being @ creation +
    • 2. 21 years
  4. RAP (Modern)
    • Wait and See
    • 1. Life in Being +
    • 2. 90 years
  5. Life in Being
    Someone at creation of interest that can affect interest
  6. Joint Tenancy Four Unities
    • Explicitly state JT; and some jx Right of survivorship.
    • 1. Time-created at same time
    • 2. Transfer-given by same instrument
    • 3. Interest-same percentage, duration, and kind
    • 4. Possession- undivided interest in possession of the whole
  7. Tenancy in Common
    • Same and undivided interest in whole.
    • Interest transfers to heirs
  8. Tenancy by the Entireties
    Slightly less than half recognize.

    • 1. Same four unities as J/T AND
    • 2. marriage

    Can't unilaterally sell or mortgage interest
  9. Tenancy by Common and JT. Mortgage and Sell interest
    No consent or notice required.
  10. Title Theory of Common tenancy
    Mortgages creates new titles and destroys unity.
  11. Lien Theory of Common tenancy
    Doesnt destroy J/T

    • 1/2- debt transfers to survivors
    • 1/2- doesnt transfer to survivors
  12. Partition in Kind
    Divide property.

    • Presumed unless:
    • 1. PK is impracticable AND/OR
    • 2. in the best interest of the parties
  13. Presumed Partition in Kind unless:
    • 1. PK is impracticable AND/OR
    • 2. in the best interest of the parties
  14. Partition in Sale
    Sell and divide money
  15. South Dakota Partition (Majority)
    What will maximize value of land? Do that.
  16. Ouster (majority)
    • Dont pay rent unless:
    • 1. Attempt to access occupied land AND
    • 2. Denied access
  17. Ouster (minority)
    When demand to vacate or pay rent: Owed rent
  18. No Record/Recording Statute (C/L)
    First in time gets title
  19. Pure Race-Recording statute
    First to record wins
  20. Race Recording (Majority)
    • 1. First to record wins
    • 2. Need Good Faith
  21. Notice-Recording Statute
    • 1. No notice
    • 2. Not know of prior transaction
    • If neither record: Later purchaser gets property
  22. Notice Recoding if neither record:
    Later purchaser gets property. Opposite of C/L.
  23. Notice Statute
    • No Notice
    • 1. Actual
    • 2. Constructive Notice
    •     a. Record Notice
    •     b. Inquiry- reason to believe; ask
  24. Record Statute if no record:
    Common Law; first in time.
  25. Race-Notice statute
    • 1. No Notice AND
    • 2. Record first.

What would you like to do?

Home > Flashcards > Print Preview