Pa property distinctions

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Pa property distinctions
2011-06-23 00:47:11
Pa property distinctions

Pa property distinctions
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  1. Future Interest- Destructibility of Contingent Remainders
    Followed in Pa
  2. Rule in Shelly's case
    Abolished in Pa
  3. Doctrine of worthier title
    Abolished in Pa
  4. RAP
    Prior to 12/31/2006- Pa applied "wait an see" (vest or terminates w/in 90 years)- the court waits until the end of the prescribed period to determine whether the interest actually vested or failed w/in the prescribed time

    After that date, no interest in Pa will be voided as perpetuities
  5. Right of Reentry
    Under Pa law, a right of reentry is transmittable by inheritance, conveyance, assignment or release
  6. Concurrent estates- JT: Mortgages
    Generally, Pa is a title-theory state.

    *HOWEVER, in Pa a morgage executed by all JTs will not result in the severance of a JT.

    *When the mortgage is not executed by all the JTs, the result is a severace of the JT and the creation of a TiC (this is the title theory result)
  7. Tenancy by the Entirety
    Pa doesn't require special words to create.

    -W/out clear and convincing evidence against the intention, it will be presumed in the case of conveyances made to a husband and wife

    -Additionally, property conveyed to a husband and wife as JTs w/ a righ to survivorship creates a TiC.

    -However, a conveyance to married persons expressly as TiC will not be treated as a TbE, but remains a TiC

    -If 1 spouse kills the other, 1/2 of the property passes to the estate of the deceased spouse. The other half is held by surviving spouse until his or her death and then passes to the slain spouse's estate

    -A TbE can be created only in married persons. (if not married, but has the language, it becomes TiC)- (subsequent marriage doesn't cure defect)

    -Terminates @ divorce and cannot be reclaimed
  8. LL-Tenant: Creation of lease
    Under Pa law, a lease for more than 3 years must be in writing
  9. LL-Tenant: Holdover Tenant
    Under Pa law, there is no double penalty for being a holdover tenant
  10. LL-Tenant: Duty to pay rent
    When there is substantial destruction of property and it's not the tenant's fault, the tenant may surrender possession under Pa law.
  11. LL's duties:
    Pa follows the majority rule. The LL has a duty to deliver possession of the premises to the tenant and @ the start of the lease term.

    -Pa follows the english rule and requires delivery of actual possession
  12. LL-Tenant: Constructive Eviction
    Under Pa law, the LL's actions don't need to totally deprive the tenant of property or make it wholly unihabitable.

    -Derprivation of part of the leasehold premises can be sufficient
  13. LL-Tenant: Implied Warranty of Habitability
    Under Pa law, there is no remedy in tort. The measurement of damages will be a rent abtement based on the percentage of the diminished value due to breach.

    - Additionally, to establish a breach of the implied warranty of habitability under Pa law, the tenant must show that after being given a R time to make the repairs, the LL failed to make them
  14. Adverse Possession- Stautory Time
    The time period required in Pa is 21 years
  15. Adverse Possession- Hostile and Under Claim of Title or Right
    Pa law does not require that the possessor act in g/f

    -Pa courts have found the term hostile to mean the person in possession intends to hold and claim title against the owner
  16. Adverse Possession-Boundary Disputes
    Pa requires that the claimant intent to claim and take title against the owner
  17. Marketable Title: Adverse Possession
    Property gained by adverse possession has full marketable title under Pa law.
  18. Land sale contracts: Equitable Conversion
    Pa follows the majority rule, passing the risk to the buyer once the contract is signed
  19. Recording- Constructive notice
    Under Pa law, constructive notice exists if the deed is recorded properly, even if the deed is defectively indexed
  20. Race-Notice Recordig Statue
    Pa is a race-notice jurisdiction

    *Under a race-notice statutes, an unrecorded conveyance or other instrument is invalid against a subsequent bona fide purchaser for value, w/out notice, WHO RECORDS FIRST

    To prevail under a race-notice statute, a claimant must prove:

    1) The claimant took subsequent in time to another person claiming ownership of the real property

    2) The claimant was a bona fide purchaser for value

    3) The claimant took the property w/out actual, constructive or inquiry notice, And

    4) The claimant recorded first
  21. Security interest:"Title Theory"
    Under the title theory, the mortgagee receives legal title to the mortgaged real property and has a right to take possession of and collect rents and profits from the property.

    *The mortgagee's title to the property is subject to a condition subsequent that divest from the mortgagee if the mortgagor repay the loan by the due date.

    -Until the mortgage is paid in a timely fashion, the mortgagor retains only an equitable interest in the propertyb (holds title for security purposes only)- mortgagor is viewed as owner of the land