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Rigos Bar Review > Rigos_Acronyms-Real Property > Flashcards

Rigos_Acronyms-Real Property Flashcards

1
Q

Real Property

Joint Tenancy Four Unities Required: PITS

*Real Prop

A

“P”ossession
“I”nterest
“T”ime
“S”ource of Title

(c) 2014 Rigos Professional Education - All Rights Reserved

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2
Q

Real Property

Rights and Liabilities of Co-Ownership: PADS

*Real Prop

A

“P”ossession
“A”ccountability
“D”uty Fair Dealing
“S”hare Contribution

(c) 2014 Rigos Professional Education - All Rights Reserved

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3
Q

Real Property

Easement Creation Methods: PINEE

*Real Prop

A 
"P"rescription (Similar to Adverse Possession)
"I"mplication
"N"ecessity
"E"xpress
"E"stoppel

(c) 2014 Rigos Professional Education - All Rights Reserved

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4
Q

Real Property

An Easement by Prescription requires: CHO

*Real Prop

A

“C”ontinual Possession for Statutory Period
“H”ostile to True Owner’s Interest
“O”pen and Notorious

(c) 2014 Rigos Professional Education - All Rights Reserved

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5
Q

Real Property

An Easement by Implication: CRAN

*Real Prop

A

“C”ontinuous or Permanent
“R”easonably Necessary
“A”pparent upon Inspection
“N”o Practical Alternative Route

(c) 2014 Rigos Professional Education - All Rights Reserved

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6
Q

Real Property

Easement Termination is caused by: L RAMPS

*Real Prop

A

“L”ack of Necessity

"R"elease or Estoppel
"A"bandonment
"M"erger
"P"hysical Blockage
"S"everance

(c) 2014 Rigos Professional Education - All Rights Reserved

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7
Q

Real Property

License to Use or Come on Land: NNAPP

*Real Prop

A

“N”on-exclusive
“N”on-“A”ssignable
“P”ersonal
“P”ermissive right to use or come onto the property of another

(c) 2014 Rigos Professional Education - All Rights Reserved

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8
Q

Real Property

Requirements for the Benefit / Burden of Covenants to Run: SPIT

*Real Prop

A

“S”OF Writing Required
“P”rivity of Estate (Horizontal and Vertical)
“I”ntent to Bind Successors in Interest
“T”ouch and Concern the Land

(c) 2014 Rigos Professional Education - All Rights Reserved

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9
Q

Real Property

Requirements for Equitable Servitudes to Run: SITS

*Real Prop

A

“S”OF Requirement
“I”ntent to Bind Land
“T”ouch and Concern the Land
“S”uccessor Notice

(c) 2014 Rigos Professional Education - All Rights Reserved

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10
Q

Real Property

Property Listing Agreement Contents: DEWD

*Real Prop

A

“D”uration of Contract
“E”arned” Conditions
“W”riting Required
“D”escription of Property

(c) 2014 Rigos Professional Education - All Rights Reserved

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11
Q

Real Property

Land Sale Contracts – Marketable Title: LIPP

*Real Prop

A

“L”egal Description
“I”dentification of Closing Entity
“P”rice of Property
“P”arties

(c) 2014 Rigos Professional Education - All Rights Reserved

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12
Q

Real Property

Deed Requirements: SADD

*Real Prop

A

“S”OF Requirements
“A”cknowledgement
“D”escription of Property
“D”elivery of Deed

(c) 2014 Rigos Professional Education - All Rights Reserved

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13
Q

Real Property

Part Performance Exceptions: PIP

*Real Prop

A

“P”ossession Delivered to Buyer
“I”mprovements Made by Buyer
“P”ayment – Substantial – by Buyer

(c) 2014 Rigos Professional Education - All Rights Reserved

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14
Q

Real Property

Statutory (Warranty) Deed Includes: TAFED

*Real Prop

A 
"T"itle of Seisin
"A"uthority and Right to Convey
"F"ree of Encumbrances – Marketable Title
"E"njoyment Quiet
"D"efend Buyer’s Interest

(c) 2014 Rigos Professional Education - All Rights Reserved

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15
Q

Real Property

Bona Fide Purchaser Requirements: FINS

*Real Prop

A

“F”or Value
“I”n Good Faith
“N”o Record or Inquiry Notice
“S”helter Rule

(c) 2014 Rigos Professional Education - All Rights Reserved

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16
Q

Real Property

Adverse Possession Requirements: ECHO

*Real Prop

A

“E”xclusive
“C”ontinuous
“H”ostile to True Owner
“O”pen and Notorious

(c) 2014 Rigos Professional Education - All Rights Reserved

17
Q

Real Property

Instrument and Recording Requirements: SADD

*Real Prop

A

“S”OF Compliance
“A”cknowledgment by Notary
“D”escription of Land
“D”elivery and Acceptance

(c) 2014 Rigos Professional Education - All Rights Reserved

18
Q

Real Property

Rule Against Perpetuities (RAP) includes CEO

*Real Prop

A

“C”ontingent Remainders
“E”xecutory Interests
“O”pen Class Remainders

(c) 2014 Rigos Professional Education - All Rights Reserved

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