Fl Property

Question 1

Liability For Property Defects

Answer 1

Any seller of new or used property has a duty to disclose facts materially (health or safety) affecting the value of the property which are not readily observable and are not known to the buyer. Failure to warn is fraudulent concealment

Question 2

Lien theory with joint tenancy

Answer 2

A mortgage will not sever a joint tenancy - a forclosure proceeding will

Question 3

Statute of frauds exceptions

Answer 3

Part performance of an oral contract is an exception to the writing requirement if relief sought is specific performance.

To establish part performance and make an unenforceable oral agreement enforceable there must be
1) payment of part of purchase price
2) possession
3) improvement

Question 4

Deed formalities

Answer 4

Must be in writing and witnessed by 2 subscribing witnesses

Question 5

Deed formalities

Answer 5

Must be (1) in writing and (2) witnessed by 2 subscribing witnesses

Question 6

Timing for non-residency lease termination

Answer 6

Year = 3 months.
Quarter = 45 days.
Month to month = 15 days
week to week =>7 days.

Question 7

Timing for residential lease termination

Answer 7

Year = >60.
quarter=30
month = 15.
Week = >7

Question 8

Lessors rights for holdover

Answer 8

Evict and charge double rent

Question 9

Lessee obligations

Answer 9

1) Comply with the health code
2) Keep the premises clean
3) Keep plumbing in good repair
4) Remove garbage
5) Use plumbing and electrical equipment carefully
6) Refrain from disturbing the neighbors
7) Not destroy the premises

Question 10

Lessee obligations continued

Answer 10

Cannot withhold consent to entry to inspect repair, provide services or show premises to potential purchasers, mortgages, renters workers or contractors

Question 11

Lessor’s duty.

Answer 11

1) Extermination, 2) locks and keys, 3) keep common areas clean and safe, 4) remove garbage, 5) provide heat running water and hot water

Question 12

Adverse Possession

Answer 12

Hostile
Open and Notorious
Actual
Under a claim of Right/Color of title
Exclusive
Continuous (7 years)

Question 13

As is clause

Answer 13

Do not excuse seller from liability regarding disclosure of latent defects

Question 14

Assignment

Answer 14

transfer of all of right, title and interest in premises.

Question 15

Assignee

Answer 15

is in privity of estate with Landlord (LL); assignee is liable for rent.

Question 16

Clause against an Assignment

Answer 16

A condition against assignment is “entire and indivisible,” and having once been waived, cannot be enforced again; Exception: “one-time” waiver= then not waived and condition resets

Question 17

Sublease

Answer 17

Less than complete acceptance of lease - not in privity with LL - not liable for rent

Question 18

Bona fide purchaser

Answer 18

(1) Pays Value- purchaser, mortgagee, judgment creditor (if he gets an execution on the judgment & then purchases the property at the foreclosure), (2) takes in Good Faith & (3) Takes w/out Notice

Question 19

Actual Notice

Answer 19

buyer has actual knowledge of prior conveyance or interest.

Question 20

Constructive notice

Answer 20

occurs upon proper recording of interest

Question 21

inquiry notice

Answer 21

duty on the Buyer to physically examine the property and if someone other than grantor is in possession, they must inquire as to their ownership interests

Question 22

Warranty Deed

Answer 22

Seisen
Right to convey
Against Encumbrances
Quiet Enjoyment
Further assurances
warranty

Question 23

Special warranty deed

Answer 23

no title defects created during his ownership.

Question 24

quitclaim deed

Answer 24

Seller makes no warranties; he only conveys what interest he has

Question 25

Deed Formalities

Answer 25

Rule: 1) be in writing (satisfy Statute of Frauds); 2) reasonably identify land and parties; & 3) indicate the grantor’s intent to convey land - 2) signed by the grantor in the presence of two subscribing witnesses

Question 26

Easement

Answer 26

non-possessory interest in land of another

Question 27

Easement Appurtenant

Answer 27

Benefits a parcel of land; the dominant estate

Question 28

Easement In Gross

Answer 28

Benefits a person or entity rather than a piece of land (no dominant estate) (In FL easement in gross is personal to the original holder, no dominant or servient estate)

Question 29

Affirmative easement

Answer 29

gives the owner of the dominant tenement the right to use the servient tenement

Question 30

negative easement

Answer 30

easement holder prohibits other from doing something on the land

Question 31

FL is a pure notice recording state:

Answer 31

A subsequent bona fide purchaser prevails over a prior grantee who failed to record. To be a bona fide purchaser, the subsequent party must give value and have no actual, inquiry or constructive notice of the prior conveyance at the time of the transaction once a deed is recorded all others have constructive notice

Question 32

Protecting Tenants at Foreclosure Act 2018 (federal law):

Answer 32

The PTFA protects a tenant after a foreclosure sale. Purchaser must: 1. give tenant a 90-day notice to vacate before evicting the tenant; & 2. honor the terms of a "bona fide" written lease if the new owner will not be living in the home (overrides FL statute requirements)

Question 33

Homestead

Answer 33

1) title 2) primary residence 3) created before debt incurred Homestead is property used as a permanent residence in FL. It may be up to 160 continuous acres outside the municipality or 1/2 acre in a municipality Homestead property is not subject to devise if the decedent is survived by a spouse and a minor child

Question 34

Injunctive relief

Answer 34

irreparable harm, clear legal right, no adequate remedy at law, consideration of public interest

Question 35

installment land sale contracts

Answer 35

FL: treats like a mortgage, only foreclosure will remedy the situation

Question 36

Marketable title

Answer 36

Free from doubt in fact and law at the time of closing defects, encumbrances, encroachments and zoning defects