Land Principles Flashcards
Formalities to create trusts of land (express + implied)
Express: declaration evidenced in signed writing
Implied: no formalities
x3 formalities to create a land contract
(also for variation of material terms AND equitable interests (availability of specific performance; clean hands; no delay))
- Writing
- Contains all expressly agreed terms
- Signed by both parties
(Availability of specific performance)
x3 formalities for a valid deed
- Intended (labelled)
- Validly executed (signed by grantor in presence of a witness who signs/ attests)
- Delivered (dated)
x3 formalities to create an express legal easement
- Length of freehold or leasehold estate
- Deed
- Registered
Creation of express equitable interests
1) Failed legal: Land Contract formalities
OR
2) Uncertain term: writing + signed by grantor
x2 formalities to create freehold covenants
- Writing
- Signed by grantor
Formalities for leases
>7yrs: deed + registration
7 years or less: deed
3 years or less: none provided 1) tenant takes lease immediately; 2) market rent; 3) no premium
Equitable: Land Contract + remedy of specific performance available
Formalities to create a mortgage (legal + equitable)
1) Legal: deed + registration
2) Equitable
Failed legal: Land Contract
Pure equitable: writing + signed by grantor