MBE PROPERTY

Question 1

What is ameliorative waste?
CL vs modern distinction re permission

Answer 1

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)

Question 2

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

Answer 2

Easement holders and licensees

Question 3

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

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

Answer 3

FSA

FSSTCS

Question 4

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

Answer 4

True ✅

Question 5

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

Answer 5

Interest and taxes

Principal

Question 6

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

Answer 6

Remainder

Question 7

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

But if C has no children, then to D

Answer 7

Vested remainder subject to total divestment

Question 8

What is the rule of convenience

Hint: relates to RAP

Answer 8

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

Question 9

Is the right of reentry transferable?

Answer 9

Not traditionally

Question 10

Interpleader is a process by which….

Answer 10

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)