Property Law

inter-vivos

gift given in your lifetime (completed gift)

Causa-mortis

a gift with expectation of death; if owner recovers they can get it back. (impending death or returned)

What are the terms for a completed gift (3)

1. intent

2. delivery

3. acceptance

Revocable gifts

gift not completed

irrevocable gifts

gift that’s completed

revocable trusts

better when receiver of gift is not fully trustworthy

irrevocable trusts

a legal arrangement where the grantor permanently transfers assets to a trustee for beneficiaries, forfeiting ownership and control. It cannot be changed or terminated without beneficiary consent or court approva

Fee simple absolute

owning in FSA means you own everything on the property with zero conditions

only giving someone the rts to use the property does not revoke your FSA of the property.

Life estate

owning it, rts to use property for life

Issue: tenant owns present interest in using the property - when lease ends present interest reverts (reversion) back to the landlord

present, possessory interest in real property that lasts for the lifetime

deeds

you can write a deed @ anytime, anywhere - should be detailed to avoid legal issues later

ex. I, x, deed my interest in property to A for my life, remainder to B

Real property

“dirt and up”/ land

personal property

everything on the “real property”/personally owned items

Vested?

a fixed, absolute right to a benefit, such as pension, stock options, or property, that cannot be taken away - if vested, it cannot be taken away (no limited duration)

Adverse possession

applies to real property ONLY n

involves a trespasser and record owner

Trespasser can adversely possess property to reward the utilization of the property

Doctrine of Waste

preventing temporary holders (like tenants or life estate holders) from damaging, neglecting, or altering property in a way that reduces its value for future owners

did the tenants pass normal wear and tear of the property?

Fee simple

allow the original owner to set restrictions, such as requiring the property to be used only for residential purposes (give everything, all interest)

• An umbrella term for total ownership. It can include unrestricted forms (absolute) or restricted forms (defeasible).

Grantor vs. Grantee

Grantor: A gives to B - A is grantor

Grantee: B is the grantee

Devise

testamentary gift of real or personal property made through a will, transferring ownership upon the owner's death (cause-mortis)

Signifies land transaction (real property)

Bequest

Personal property transaction

Ex: Special bequest to give gun collection to my brother, A

Heirs

where the law says property goes (if no will) or explicitly stated in will

determinable

determinable upon a certain event - was not give w/o expectations

conditions

condition subsequent

if something happens it can go back to the grantor

condition precedent

a condition that has to happen before transaction

future interest

legal, non-possessory right to property that will or may become a present, possessory estate at a future date.

present interest

the immediate, unrestricted right to use, possess, or enjoy property or income,

Rt to re-enter

reversion right

Tenants in common

the only thing that tenants have in common/share equally is possession; lacks rt of survivorship - if a owner dies, their share passes to their heirs via a will, not automatically to the surviving owners

Concurrent ownership

owning 1 piece of property @ the same time as someone else (Ex. owning a beach house with a friend)

Separate interest

Joint tenancy

Joint tenancy is a legal arrangement where two or more people own property equally, featuring a "right of survivorship." When one owner dies, their share automatically transfers to the surviving owner(s) without going through probate

4 unities of time (Joint tenancy)

time - All joint tenants must acquire their interest in the property at the same time.

title - All joint tenants must receive their title through the same legal document (e.g., the same deed or will)

interest - tenants have a share of ownership

possession - JT have rt to the whole and rt to possess the whole time.

Sever concurrent ownership

to end the agreement (can be done in secret)

Rts of survivorship if JT is severed (becomes TIC)

No rts. of survivorship because JT —> tenancy in common

straw man

Property owner transfers title to a third party (the "straw man"), who then transfers it back to the original owner and another person as joint tenants.

Historically satisfied the "four unities" required for joint tenancy (time, title, interest, possession)

unjust enrichment

ex: if you murder the concurrent owner with JT, you unjustly tried to enrich yourself with their property

Tenancy by entirities

marries @ the time of the transaction (permission is required to sell, transfer, etc.)

mortgage leins

When a mortgage company places a lien on a property, only the borrower(s) listed on that lien are considered creditworthy in the transaction. If only Person A is named on the lien, the mortgage company will underwrite and issue the mortgage based solely on Person A's salary and credit profile — Person B is not factored into the credit evaluation, as they hold no liability under the lie

Outster concept

Ouster occurs when one co-tenant wrongfully excludes another co-tenant from the property — for example, if B changed the locks and physically prevented A from returning. That would trigger B's obligation to pay A rent for the period of exclusion. Without an actual, wrongful exclusion, there is no ouster

If C (a third party) lives there and pays rent, and neither A nor B are occupying the property, that rent must be split evenly between A and B through an accounting — because the income is derived from their jointly owned asset

• A leaves on their own → No ouster, B owes no rent

• B locks A out or refuses A entry → Ouster, B owes rent

Accountings

includes utilities

potential rt of contribution if 1 owner installs (ex. pool) that raises water bill. Cts may accept rt to contribution action

rent

fmv: Fair market value

ouster: don’t have to give rent unless ouster

Costs (who bears it?)

Mortgages, taxes all JTs are expected to contribute (rt of contribution)

Repairs/improvements: does not need contribution from other owners (ex. adding a fence/repairing a fence)

waste

doctrine of waste - the possessor must maintain the property in a reasonably similar condition and cannot make permanent changes — even improvements — without the consent of all interested parties

applies to: Life tenants vs. remainder holders, Co-tenants (e.g., Joint Tenants, Tenants in Common), and Landlord & Tenant relationships

partition in kind

ct will sever CO relationship —> dividing property up

ct can enforce liquidation

parition by sale

to want the ct to liquidate and sell property, ct may sell on owners property rts.

“sell this and other in kind” —> ct can use both partitions

Tenant must show a possessory right to obtain ct order

4 unities of Joint Tenancy

Time - All joint tenants must acquire their interests at the exact same moment

Title - All joint tenants must take title through the same deed, will, or legal document.

Possession - JT have right to the whole and right to possess the whole time

Interest - Tenants both have a share of ownership

Tenants in Common (TIC)

A and B are Tenants in common (law assumes 50/50 if not explicitly states in title) B can sell, transfer, dispose of their share w/o permission from A.

Upon one owner’s death, their share passes to their heirs or through their will, not to the surviving owner

Joint Tenancy (JT)

requires tenants to meet 4 unities of JT

Always has rts of survivorship (no rts of surv. —> functions as TIC)

Upon one owner’s death, their share automatically passes to the surviving owner.

Typically 50/50 split between the concurrent owners

Ed deeds 50% of house to A during Ed’s life. What type of tenancy is this?

TIC between Ed and A concurrent ownership

Ed leaves 50% of house to B in will. What tenancy do we have?

TIC between A and B b/c A received the property @ a different time —> no unity of time —> no JT

Intestate

Died w/o a will - left no direction for family to go in —> Law says if you die, it will go to heirs (Varies by state/1st children 2nd parents, siblings)

Testate

had valid will @ time of death. direction given

separate property

property you come into the marriage with. anything you owned before entering the marriage, unless you give the title

Commingle

adding person to title/acc./trust after

occurs when separate, non-marital assets (like inheritance or pre-marital savings) are mixed with marital propert

Marital property

purchases made after marriage, you own it OR if title is given - title isn’t required to have both people on it.

elective share

a legal right in "separate property" states allowing a surviving spouse to claim a fixed percentage (often one-third to 40%) of a deceased spouse's estate, preventing total disinheritance

Traditionally one-third of the estate.

inherited property

treated as separate property bc inheritance is typically explicitly states in will/trust

community property

a legal regime in nine U.S. states where assets and debts acquired during marriage are owned 50/50 by both spouses, regardless of who earned them.

free holder

fee simple, life estate —> more permanent

non-freeholder

not a permenant relationship with LL (landlord)

Covenant of Quiet Enjoyement

Leasee doesn’t own it, but does own the right to peacefully enjoy it. Leasor can’t just show up and use the property

What are the two types of leases

At-will tenancy

Periodic Tenancy

At-Will Tenancy

No defined duration “day-to-day” (can be monthly)

Periodic tenancy

More defined; clear period (most are a year) -- any agreement over a month