Property Remember Tags

Possibility of Reverter

Automatic

Conveying Interest in Will

DOES NOT SEVERE Joint Tenancy

In a month-to-month Tenancy

1 YEARS NOTICE Is Required

LANDLORDS Actually Have to

actual possession of the property on the first day of the lease term.

Warranty of Habitability

it has to be so much that I would not be able to physically live on the property

If there's a breach of either the warranty of habitability or quiet enjoyment, the

tenant can refuse to pay rent.

Any covenant against doing one of those sublease or assignment is strictly construed, which means if the lease actually says there shall be no assignment,

then no assignment is allowed.

LANDLORD Can withhold consent of assignments and sublease

The landlord Can only Withhold Consent on a Commercially Reasonable Ground

If the lease prohibits only assignment,

the tenant may still sublease

The Law Of the State Where Property

is Located Will Apply.

Easement by Implication

PRIOR USE

Easement by Necessity

there's literally no other way for me to get off that property unless I use your land.

An Easement Last FORVER

We do not care about fairness and whether if a property is sold if the buyer had notice or not

(EASEMENTS) merger Occurs when the owner of the easement becomes the

owner of the servient estate in addition to the dominant estate.

A license coupled with an interest occurs when, for example, a grantor creates a life estate for A with the remainder to B. During A's life tenancy,

B has an irrevocable license to enter the land and inspect for waste, because of his future interest in the land.

A license may be created

without consideration or a writing.

a license is created when there is an oral attempt to create an easement or

a written attempt otherwise fails due to the Statute of Frauds

Profit

Right to Enter and take something of the land

Water Rights

The shi*t gotta be reasonable

CROPS

Fruits

Disposition of Crops

Goes With Property, regardless of man made or personal

Special Damges =

Unique Damges

Any board of CIOC

Any Rule has to be reasonably related to furthering the legitimate purpose of the association

Property Owners Association: Owners are required to

belong to the association and pay dues

Standard of Care of Board Members

an ordinary director of a common interest owned community

Board Members ARE NOT

Jointly/severally liable

As Far as Equitable Conversion Goes

Seller Doesn’t Need Legal Title on the Day Of Contract.

Real estate contract equals

marketable title

Any lien, mortgage, covenant, easement, or any zoning violations, or any violation of the zoning of the property would all

make property not marketable

Time is not of the essence in real estate contracts

Unless Stated

Seller has to Disclose ANY MATERIAL DEFECT that

CANNOT be seen by the buyer.

Purchase Money Mortgage:

Money used to purchase the property

Redemption, you can pay off debt

before foreclosure

Equitable Right of Redemption: Until property that is subject to a mortgage or a deed of trust is foreclosed upon by sale, the borrower has a right to redeem the property

by satisfying the obligation for which the property serves as security

(SALE) Under a lien theory

owner can sell

(SALE) under a title theory

Owner Can't Sell

(TITLE) Under a lien theory, who who holds title?

Owner

(TITLE) Under a TITLE theory, who who holds title?

Bank

How can you skip foreclosure proceedings?

Sign deed to bank

REMEMBER: if they're asking you about a certain mortgagee in a long fact pattern

PICK THE ANSWER ABOUT THE MORTGAGEE

Whatever the issue is in the facts, you always

pick the most specific answer.

I was the first loan and i FORECLOSE FIRST other mortgages

ARE WIPED OUT

I WASN'T the first loan and i FORECLOSE FIRST other mortgages

Those who came before me = mortgages still there

A junior interest holder who is not given notice is an omitted party

and that interest is not destroyed by the sale.

If an original mortgagee loans an additional amount to a mortgagor that is optional rather than obligatory

Such amount may not enjoy priority over a second mortgage if the original mortgagee has notice of the second mortgage.

Gives deed to an independent third party for delivery to the grantee, but the grantor Reserves the Right to Take the Deed Back

—Not Deemed Delivered

If the grantor does not reserve the right to take the deed back, the grantor's intent to presently transfer the property

is determined by the facts.

Dynamic for Present and Future Convenants

Does Not Run With Land, Can't Sue OG

Future is the EXACT OPPOSITE

The deed has to be

in Writing o Satisfy Statute of Frauds

Non-attorney can draft documents and fill in blacks

BUT not give legal advice

Notice

Last BFP PREVAILS

Race

First Person to Record Prevails

Race-notice

First Bona Fide Purchaser to Record

For Shelter Rule, YOU HAVE TO

BUY FROM BFP

Wild Deed: Whoever O gives it to outside of his first grantee's transaction with someone else ......

Wins

If Grantor Acquires Tile after closing,

title will pass AUTOMATICALLY to GRANTEE

Under the doctrine of retaliatory eviction, a landlord may not evict a residential tenant as retaliation

for the tenant's reporting a housing code violation to the appropriate authorities

What else can't a landlord evict a tenant for?

refusing to pay rent when the landlord breaches the warranty of habitability.

a mortgagee is entitled to the amount attributable to an

improvement of the property by the mortgagor.

a mortgagee is NOT entitled to the amount attributable to an

improvement made by a mortgagor's tenant

If a single grant gives a freehold estate to a person and a remainder to the person's heirs,

The remainder belongs to the named person and not the heirs.

When a senior mortgagee and the mortgagor agree to modify the terms of the existing mortgage or the obligation it secures, the senior mortgagee's interest remains superior to any junior mortgagee

as long as the modification doesn't materially harm the interests of the junior mortgagee.

IF a senior mortgagee and the mortgagor agree to modify the terms of the existing mortgage or the obligation it secures, the senior mortgagee's interest is inferior to any junior mortgagee

If the modification materially harm the interests of the junior mortgagee.

Similarly, when a senior mortgagee releases the existing mortgage and replaces it with a new one as part of the same transaction,

the new mortgage maintains the same priority as the former one.

If replacement mortgagee materially prejudices holder of junior interetst

then the new mortgage's priority is affected to the extent of that prejudice.

an easement appurtenant cannot be used for the benefit of property other than the dominant estate.

If this occurs, a court may award damages instead of an injunction when there is no increased burden on the servient estate

Easment Appurtenant

Attaches to Land

Easement In Gross

Attaches To Person

CO-Tenant Can Order Contribution for

Taxes and Mortgages as well

the interest earned on escrow accounts belongs

THE TENANTS,NOT the landlord

An agreement to reconvey

is not a land sale contract

Not paying taxes constitutes as

Permissive Wate

A deceased person or their issues

cannot take and hold title to property.

If a deed contradicts a will

chances are that it would win in a conflict

Even in Quitclaim deed

IMPLIED WARRANTY OF MERCHANTABILITY STILL APPLIES

Present Warranties

does not run with land, can't sue original grantor

Future warranties

DOES RUN WITH LAND, CAN SUE OG GRANTOPR

Fee Simple Subject to condition Subsequent:

Right of Reentry: Grantor Must Act to get Land Back

Vested remainder Subject to Open(Partial) Divestment =

Refers to a Class Of People

One Must Be Alive

oUSTER

Ouster—A cotenant who is being Denied Access Can Bring a Court Action to regain access to the property

•Adverse Possession—If one (Other) Cotenant ousted the other, he Can Make a Claim for Adverse Possession if he meets the requirements. — must have actually took actions to prevent them from accessing the property

Future Advance Mortgage

Grants an Interest In their property in Exchange for the right to receive Future Payments (i.e., a line of credit) First Priority

Abandonment of Easement

Occurs when the owner of the easement acts affirmatively to show a Clear Intent To Relinquish the Easement

Equitable Right of Redemption:

Time from Notice to Sale

Never Waived

Automatic — Remember

Easement VS Convenant

Easement, right to access others proerty

Convenant - related to sue of land or property (maintaining trees, cn't use for vaacational purpose)

Recording acts Don't Protect BFPs from

adverse Possessors

Under this doctrine, a life tenant generally must deliver the property to the future interest holder in

substantially the same condition that it was in when she took possession, with allowance for normal wear and tear.

The owner of property in fee simple absolute who divides ownership of the property into a life estate and one or more future interest

may alter or eliminate the applicability of this waste doctrine to the life tenant.

Asa it pertains to waste, In addition, the future interest holders

may consent to the life tenant's conduct.

Examples of situations that typically give rise to inquiry notice on the MBE are

(i) when someone other than the grantor has possession of the property (e.g., a tenant) or (ii) when documents are referenced in the chain of title.

When is the only time a seller doesn't need marketable title

the K says there doesn't have to be one

If physical division of the property is not practicable or fair,

the court may order a partition by sale and distribute the proceeds among the co-tenants in accordance with their ownership interests.

With teancy in common, Each co-tenant holds an undivided interest with

unrestricted rights to possess the whole property, regardless of the size of the co-tenant's interests

With tenancy in common, Each tenant can unilaterally

transfer, devise, mortgage, or lease his interest to a third party, without affecting the interest of the other tenants in common.

Unlke a joint tenancy, a tenancy in common requires only

the unity of possession.

In most states, a joint tenant may effect a severance

by executing a contract to convey his property interest.

Assuming

New Buyer and OG Owner Liable — THINK BOG

Subject

ONLY OG LIABLE, BUT CAN FORECLOSE ON NEW OWNER - SOG

As it pertains to variance

a hardship cannot be self induced

Financial Circumstances and Reduction in Value do not justify

ISSUING OF A VARIANCE

A variance may be granted subject to reasonable conditions, particularly when those conditions

are designed to minimize the impact of the variance on the surrounding area.