MBE PROPERTY Flashcards

You may prefer our related Brainscape-certified flashcards:
1
Q

What is ameliorative waste?
CL vs modern distinction re permission

A

Waste that provides no diminution in value
CL- prohibited
Modern- ok if rsb (ex substantial permanent change in neighborhood or w/o FI’s objection)

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2
Q

___________ and ______________ are persons that do not have land possessor duties

A

Easement holders and licensees

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3
Q

If a conveyance has ambiguous language, what is the default?

If there is ambiguity btwn a FSD and FSSTCS, which is preferred?

A

FSA

FSSTCS

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4
Q

True or false:
A life Tenant in possession has a presumed right to take natural resources

A

True ✅

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5
Q

Life tenant owes what payments on mortgage?
FI owes what payments on mortgage?

A

Interest and taxes

Principal

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6
Q

DEFEASIBLES (FSD, FSSTCS, Exec Int.) ARE NEVER FOLLOWED BY A ______________

A

Remainder

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7
Q

What type of interest is this? Where something COULD happen to wipe out the interest

But if C has no children, then to D

A

Vested remainder subject to total divestment

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8
Q

What is the rule of convenience

Hint: relates to RAP

A

Where there is no expression of intent that all members of a class should take, the class closes when a member of the class becomes eligible for the gift

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9
Q

Is the right of reentry transferable?

A

Not traditionally

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10
Q

Interpleader is a process by which….

A

A stakeholder may join all claimants to whom he is or might be liable to to avoid the risk of multiple liability.
***remember that without the payment of a bond (for statutory), the court will lack SMJ (in addition to minimal DIV & @ least $500 AIC)

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