Card Set Information
1) Exists on all present real estate holding, AND
2) Floats onto all hereafter acquired real estate holdings.
To obtain an exception to zoning ordinance, proponent must show:
1) Undue hardship not self-imposed, AND
2) Variance won't decrease neighboring property value.
Amentities that gov't seeks in exchange for permission to build
To pass Constitutional scrutiny, exactions must be
nature and scope
of proposed development.
lawful, existing use
now deemed nonconcorming by a new zoning ordinance
Use cannot be eliminated all at once unless
is paid, otherwise, it could be an unconstituional taking.
Fee Simple Defeasible
Possibility of Reverter
, where estate automatically terminates on occurence of stated event and goes back to grantor
: "so long as," "during," "while," "until"
Fee Simple Subject to Condition Subsequent
Right of Re-Entry
, which allows grantor to exercise power of termination
: "upon condition that," "provided that," "but if," if it happens that"
Fee Simple Subject to Executory Interest
3rd Party has
, where estate automatically divested in favor of the 3rd party
Rule Against Perpetuities
Void future interest if it may vest >21 years after the death of a measuring life.
Applies only to:
1) Contingent Remainders
2) Executory Interests
3) Vested Remainders Subject to Open
4) Powers of Appointment
5) Rights of First Refusal
If Void, grantor or heirs may have reversion or possibility of reverter.
Under CL, L has no duty to make premises safe, except for:
1) Common areas
2) Latent Defects
3) Assumption of repairs
4) Public use
5) Short term lease of Furnished dwelling
Form of Breach of the Implied Covenant of Quiet Enjoyment
1) Substantial Interference
3) Good-Bye; T must vacate within a reasonable time after L fails to fix problem
1) Duty to Deliver Possession
2) Implied Covenant of Quiet Enjoyment
3) Implied Warranty of Inhabitability
1) Liability to 3rd Parties
2) Duty to Repair
3) Duty to pay Rent
Mortgagor must may off mortgage upon sale, otherwise, property can be foreclosed, mortgage can stay on property, but Mortgagee cannot hold buyer personally liable.
Equity of Redemption
Universally, borrower has the right to redeem land
before the foreclosure sale
In half the states, borrower may redeem for a fixed period
after the foreclosure sale
Voluntary Waste of Natural Resources
Life tenant must not consume or exploit natural resources on the prop, UNLESS
- land was used in exploitation prior to grant
- consume natural resources for reasonable repairs and maintenance
- right to exploit was granted
- land is suitable only to exploit
Life Tenant must maintain the premises in reasonably good repair.
Rule of Destructability of Contingent Remainders
At CL, a contingent remainder is destroyed if it was still contingent at the time the preceding estate ended.
Rule in Shelley's Case
Historically, the present and future interests merges, creating a free simple absolute.
Today, merger creates a life estate.
Eg. O conveys "To A for life, the on A's death, to A's heirs." A is alive.
Rule of law, not construction.
Subsequent BFP of a prior conveyance prevail over the prior transferee, regardless of whether the BFP records.
Riparian doctrine of Reasonable Use
Each riparian owner has
of the water.
Downstream owners cannot enjoin resonable use by an upstream owner UNLESS it
with the downstream owner's comparable use.
(domestic, lmt'd grazing) trump artificial uses (irrigation, manufacturing).
4 Unities of Joint Tenancy
Possession - same rights to enjoyment
Interest - same type and duration
Time - vested at the same time
Title - same instrument
Title reasonably free from doubt:
1) No defects in chain of title
2) No mortgages, liens, easements and covenants, unless Buyer waives
2) No existing violations of zoning ordinances
Merger of Land Contract and Deed
The contract merges with the deed at closing and Seller is no longer liable on the implied contractual warranty of marketabile title
Security Interest in Fixtures
Prevails over prior recorded mortgage
on land as long as as fixture interest is
recorded within 20 days
when property is transferred from grantor
when any member of class has present posessory interest
Child in gestation
at time class closes, child is included in class
Exists when original covenanting parties shared
some interest in the land independant of the covenant
Exists when susccessor in interest hold the
entire durational interest
held by the covenanting party.
No vertical privity exists with eg, subleases, life estates
Recipricol Negative Servitudes
Negative covenants or equitable servitudes will be implied if:
1) Common Scheme for development, AND
2) Notice of the covenant (Actual, Inquiry, Record)
Can only be Negative, not Affirmative
Easements created by implication reqs:
1) Previous use was
expected use would continue
because it is
to dominant tenemant's
use and enjoyment