Property Flashcards
1
Q
Rule Against Perpetuities
A
Will the future interest vestor fail within 21 years after everyone then alive dies?
-Purpose: prevent remote vesting
2
Q
Assignment
A
transfer of ENTIRE leasehold balance
3
Q
Sublease
A
Transfer of LESS THAN the entire leasehold balance
4
Q
Easement
A
Right to use or do something on someone else’s
-no ownership
5
Q
Bona Fide purchaser
A
-pays value
-good faith
-without notice
to prevent RECORD your interest
recording statutes:
-notice = last always wins
-race notice = first to record wins
