MBE Property MC Flashcards

Question

Term of years - creation, duration, termination

Answer 1

Agreement (ie, lease) - Fixed period (eg, one month, three years) - End of term (automatic) - Breach of certain covenants (eg, rent, habitability)

Answer 2

- Agreement - Presumed when lease has no specified termination date - Operation of law (eg, holdover tenant) Periodically renews until terminated - End of period (proper notice) - Breach of certain covenants

Answer 3

- Agreement - Implied when person allowed to possess premises without paying rent Indefinite period At any time (reasonable notice)

Answer 4

Implied when tenant keeps possession after lease expires (ie, holdover tenancy) Continues until terminated - Landlord evicts - Tenant vacates - Landlord accepts rent (forms periodic tenancy)

Answer 5

ECHO Exclusive – physical presence on land not shared with owner Continuous – presence is continuous & uninterrupted for statutory period Hostile – possession is without owner's consent Open, notorious & actual – possession is apparent or visible to reasonable owner

Answer 6

Possession of the land in question need not be acquired at a single time

Answer 7

Under the Shelter Rule, a person who receives a property interest from a BFP is entitled to the same protection under the recording act as the BFP. This is true even if that person would not otherwise be protected by the recording act because the person acquired title to the property by gift, intestate succession, or devise (i.e. not bona-fide purchaser or recorded first)

Answer 8

is bona fide (i.e., a BFP or innocent purchaser for value) because the purchaser obtained an interest in the property without notice of the earlier interest and recorded first.

Answer 9

Under the "estoppel by deed" doctrine, a grantor who conveys an interest in land by warranty deed before actually owning it is estopped from later denying the effectiveness of that deed. When the grantor acquires ownership of the land, the after-acquired title is transferred automatically to the prior grantee.

Answer 10

An equitable servitude is a promise to do or not do something on land that is enforceable at equity by injunction.

Answer 11

if it meets the following requirements: Writing – servitude is in a writing that satisfies the statute of frauds (here, the deed from the man to the developer) Intent to run – promising parties intended for the servitude to bind their successors in interest (here, the deed says "heirs and assigns") Touch and concern – servitude relates to the use, enjoyment, or occupation of the dominant and servient estates (here, the servitude restricts land use to single-family residences) Notice – person to be bound had actual, record, or inquiry notice of the servitude (here, the woman and subsequent purchasers have notice from the developer's properly-recorded deed). ***However, it can only be enforced by the original parties or their successors in interest.

Answer 12

Necessity – the dominant (benefited) estate is virtually useless without an easement across the servient (burdened) estate Common ownership – the dominant and servient estates were under common ownership in the past (i.e., they were once a single tract of land) Severance – the necessity arose when the land was severed and the dominant and servient estates were created

Answer 13

Revocable privilege to enter & use another's land for limited, specific purpose It is not an interest in the land - so licensee not entitled to comp if gov't condemns (under power of eminent domain). (NOT a profit or easement - which ARE nonpossessory interests in the land)

Answer 14

Orally, in writing, or by another act demonstrating licensor's intent to create license

Answer 15

A license is freely revocable—by the licensor, upon the death of either party, or upon conveyance of the licensed property—unless the licensee detrimentally relied on it or the license is coupled with an interest.

Answer 16

Under the doctrine of merger, the seller's duties in a contract for the sale of real property—including the duty to deliver marketable title—merge into the deed at closing. As a result, these duties are enforceable thereafter only if they are contained in the deed..

Answer 17

on the party with equitable title (buyer) at the time the property was destroyed unless the other party is at fault for the loss. The seller retains legal title to real property during the pendency of the sales contract (i.e., during the executory period - between contract formation and closing), but the buyer receives equitable title once the contract is formed and can be specifically enforced.*

Answer 18

seller retains the risk of loss unless and until the buyer takes possession or title is transferred.

Answer 19

Unless the land-sale contract states otherwise, the doctrine of equitable conversion places the risk of loss on the buyer once the contract is formed and can be specifically enforced.

Answer 20

A mortgage is an interest in real property given to a lender (mortgagee) to secure a debt.

Answer 21

took subject to the mortgage – in which case the grantee does not agree to pay and is not personally liable for the debt or assumed the mortgage – in which case the grantee expressly agrees to pay and becomes personally liable for the debt, while the debtor becomes secondarily liable as a surety.

Answer 22

By equitable right and statutory right (if statute exists)

Answer 23

At any time prior to foreclosure sale Pay full amount of debt due (including interest) to lender (*If the mortgage contains an acceleration clause, the debtor may have to pay the full amount of the outstanding debt (and any accrued interest) to exercise the equitable right of redemption)

Answer 24

if statute exists Statutory period after property has been sold in foreclosure Pay foreclosure sale price to purchasing party

Answer 25

A deed conveying a mortgagor's interest in the mortgaged property to a mortgagee in lieu of foreclosure allows the mortgagee to take immediate possession of the property without the formalities of a foreclosure sale. (if the mortgagee accepts a deed in lieu of foreclosure without reserving the right to foreclose (as seen here), then its mortgage is extinguished. )

Answer 26

Any junior interests remain attached to the property, and the mortgagee's interest is extinguished unless it was reserved.

Answer 27

a future interest in real property that is capable of becoming possessory upon the expiration of a life estate or term of years.

Answer 28

A remainder is a future interest in real property that is capable of becoming possessory upon the expiration of a life estate or term of years. vested – not subject to any condition precedent AND held by an identifiable living person (e.g., "then to my son and daughter")

Answer 29

subject to some condition precedent (other than the natural termination of the prior estate) OR held by an unknown or unborn person (e.g., "then to my heirs, but only if they survive my friend").

Answer 30

if the occurrence of a subsequent condition will eliminate the remainder interest (e.g., "then to my heirs; but if none survive my friend, then to my lawyer").

Answer 31

A fixture is a chattel (tangible personal property) that is (1) attached to real property in such a manner that it is treated as part of the real property for ownership and (2) used for some larger component or function of the land (e.g., a wall separating adjoining properties).

Answer 32

the defendant's interference with the plaintiff's use and enjoyment of his/her property is both: substantial – offensive, annoying, or intolerable to a normal person in the community and unreasonable – the severity of the plaintiff's harm outweighs the utility of the defendant's conduct.

Answer 33

money damages

Answer 34

Writing (SoF) Intent to run Touch & concern (relates to the use, enjoyment, or occupation of the land) Horizontal (promising parties simultaneously transfer the land and create the covenant ) & vertical privity (successors have an unbroken chain of ownership from the original parties) Notice (person to be bound had actual, record, or inquiry notice of the covenant (required only if the person to be bound was a purchaser - NOT req if inherit)) WITHN

Answer 35

Writing Intent to run Touch & concern Limited vertical privity No notice required

Answer 36

equitable relief

Answer 37

Writing Intent to run Touch & concern Notice (no privity)

Answer 38

Intent to create common scheme Restrictive servitude (promise not to do something) and Notice (actual, record, or inquiry)

Answer 39

a kind of equitable servitude that is implied and need NOT be in writing. Created by - Dev must intend to create covenant on all plots in subdivision; - promises must be reciprocal (benefits, burdens each and every parcel equally); - must be negative rather than positive (i.e. must be restriction on owner's use) - successor must be on notice of restriction - must be common plan or scheme

Answer 40

i.e., relate to the use, enjoyment, or occupation of the dominant and servient estates

Answer 41

Yes - The debtor can freely transfer mortgaged land to a grantee unless the mortgage states otherwise.

Answer 42

land the debtor remains personally liable for the debt secured by the mortgage.

Answer 43

took subject to the mortgage (presumed) – in which case the grantee does not agree to pay and is not personally liable for the debt or assumed the mortgage – in which case the grantee expressly agrees to pay and becomes primarily liable for the debt, and the debtor becomes secondarily liable as a surety.

Answer 44

OCEAN Open and notorious – apparent or visible to a reasonable owner Continuous – uninterrupted for the statutory period Exclusive – not shared with the owner Actual – physical presence on the land Nonpermissive – hostile and adverse to the owner

Answer 45

Yes - it's nonpermissive if deed is not for the true owner's place

Answer 46

most jurisdictions only require that the possessor objectively demonstrate an intent to claim the land. Some jurisdictions may require that the possessor subjectively believe that he/she has the legal right to possess the property.

Answer 47

The statute of limitations for adverse possession will not run against a true owner afflicted with a disability (e.g., insanity, infancy, imprisonment) at the inception of the adverse possession until the disability is removed.

Answer 48

the BFP lacked notice of the earlier interest and recorded first.

Answer 49

A tenancy at will is a leasehold estate that has no specific term and continues so long as the landlord and the tenant desire. This tenancy can generally be terminated by the landlord or the tenant. if only one party is expressly given the right to terminate the leasehold, the arrangement may be deemed unconscionable if, for example, the arrangement is unfair due to one party's superior bargaining power. In such a case, both parties are given the ability to terminate the lease.

Answer 50

A mortgage is a lien on real property used to secure repayment of a debt.

Answer 51

defaults on the mortgage loan.

Answer 52

terminates any interest in the foreclosed property that is junior (lower in priority) to the interest being foreclosed but does not affect any senior interest (higher in priority).

Answer 53

CL: "first in time, first in right" rule is used to prioritize interests.

Answer 54

Yes - however the senior mortgage will remain attached to the property. A foreclosure on mortgaged property terminates interests in that property that are junior to the foreclosed interest but does not affect any senior interests.

Answer 55

any failure to support the land and buildings that predate the conveyance of those rights, provided that the damage would have occurred in the land's natural state (i.e. building did not contribute to the subsidence).

Answer 56

...rights in the house with respect to other creditors (prob incomplete)

Answer 57

A novation is the substitution of a new contract for an old one when a party to the original contract agrees to release the other party and substitute a new one.

Answer 58

CL only - most states abolished (most states, payment of an encumbrance on devised real property is required only if the will so specifies.) applies when a devisee (the son) receives a specific devise of real property (the house) that is subject to an encumbrance (e.g., mortgage, lien). Under this doctrine, the devisee is entitled to pay off any encumbrances on that property—including a purchase-money mortgage—from the remaining assets in the testator's estate (even if remaining assets were separately left to daughter).

Answer 59

Lapse Ademption Exoneration Abatement

Answer 60

(Doctrines affecting conveyance by will) Causes devise to fail if beneficiary dies before testator (unless the testator indicates a clear intent that the devise is to survive the beneficiary's death). If the devise fails, the lapsed gift will become part of the residuary estate. Every state has an anti-lapse statute (goes to fam member)

Answer 61

(Doctrines affecting conveyance by will) Causes devise to fail by either: extinction – specifically devised property not owned by testator (or destroyed or fundamentally changed) at death satisfaction – beneficiary received devised property (or other asset intended to satisfy devise) during testator's life

Answer 62

(Doctrines affecting conveyance by will) Allows beneficiary of specifically devised real property to use estate's remaining assets to pay off any encumbrances on that property

Answer 63

Reduces devises that cannot be satisfied by assets remaining after testator's debts are paid Residuary devises abated first, followed by general & then specific devises

Answer 64

- Specific (specifically identified asset) - General (often of money - payable from general assets of estate... "$2,000 to my daughter" "one-half of my estate to my son") - Demonstrative (Devise primarily payable from designated source, but secondarily payable from general assets - "$2,000 to my daughter out of my bank account") - Residuary (what's left after above)

Answer 65

Real property Pass automatically with land

Answer 66

Personal property Pass with land except* when: - harvested – severed from land - ripe – mature and therefore deemed constructively severed from the land (some courts) - planted by tenant with indefinite leasehold or - planted by adverse possessor under claim of right (*Then prior owner has right to reenter land to remove crops.)

Answer 67

a tenant has a right to reenter the land to remove, harvest, and cultivate crops planted prior to the termination of his/her tenancy (if termination is not the tenant's fault). Adverse possessors have the same rights as a tenant.

Answer 68

part of the general estate.

Answer 69

foreclosure is complete

Answer 70

Lender technically has right (as holder of title) to posess the property at any time

Answer 71

A minority of jurisdictions modify the title theory. Mortgagee can take possession at default

Answer 72

Written signed by the Grantor (or authorized agent), Identify the grantor and the grantee contain Words of transfer, and Property description (identify the land with reasonable certainty) Mnemonic: Will Grant Interest When Proper

Answer 73

An inter vivos transfer of property by a deed is effective when the grantor delivers it and the grantee accepts it. In contrast, a will is not effective until the grantor dies—regardless of when it was executed.

Answer 74

Transfer treated as if grantor retained deed, even when grantor instructs agent to deliver deed to grantee at some future time or upon happening of some event

Answer 75

Transfer treated as if it was made directly to grantee

Answer 76

Transfer made with condition placed on transfer to grantee: - if grantor retains absolute right to recover deed, no transfer - if grantor does not, present transfer treated as present gift that cannot be voided OR conditional transfer creates future interest in grantee Transfer conditioned on death of grantor (death escrow): - effective if grantor intends to make present gift - ineffective if grantor intends that gift be effective only upon grantor's death

Answer 77

if son is presumed to have accepted this beneficial gift, the transfer was effective when the deed was delivered to the neighbor

Answer 78

- Absolute deed (Debtor gives deed to creditor with intent to secure loan (ie, equitable mortgage)) - Deed of trust (Debtor gives deed of trust to third-party trustee as collateral for debt, & creditor can instruct trustee to foreclose upon default) - Installment land contract (Debtor agrees to buy land through installment payments & gets immediate possession, but seller keeps legal title until paid in full) - Sale-leaseback (Seller leases property from buyer immediately after sale, & seller's rental payments function as repayments on loan) - Equitable vendor's lien (Seller finances buyer's purchase with equitable vendor's lien when seller transfers title to buyer but purchase price not fully paid) ADISE Alternative drummer is so edgy

Answer 79

competing equities (e.g., good-faith purchaser) take precedence over an equitable mortgage.

Answer 80

a legal instrument that transfers ownership of real property from the owner (grantor) to another (grantee).

Answer 81

1. Essential components 2. Delivery 3. Acceptance

Answer 82

a. Grantor's present intent to transfer title b. Presumed upon: - physical delivery of deed - recording - unconditional delivery to agent - grantee's possession of property/deed

Answer 83

the transfer is beneficial to the grantee. ex: And the daughter is presumed to have accepted this beneficial gift when it was recorded, even though she died before knowing of it

Answer 84

PITT Possession – tenants share an equal right to possess or use the property Interest – tenants have an equal interest in the property Time – property interests simultaneously vest in all tenants Title – property interests received in the same instrument of conveyance

Answer 85

cannot (bc right of survivorship)

Answer 86

DAMPER - Destruction – servient estate condemned or destroyed by natural forces - Abandonment - dominant estate abandons easement - Merger - dominant & servient estates united in common ownership - Prescription - servient owner prevents use for prescriptive period - Estoppel - dominant owner estopped from asserting easement - Release - express release in writing satisfying statute of frauds

Answer 87

A covenant can be terminated in the same manner as an easement (DAMPER)

Answer 88

(terminates covenant or easement) Abandonment occurs when an affirmative act—something more than neglect or nonuse—shows a clear intent to relinquish the covenant.

Answer 89

drastic changes in the surrounding area render the restriction meaningless or absurd (prob not complete)

Answer 90

A PMM is a mortgage granted to the seller of real property if the mortgage is given as part of the same transaction in which title is acquired PMM can also arise when loan proceeds are used to construct improvements on the real property if the mortgage is given as part of the *same transaction* in which title is acquired.

Answer 91

Purchase-money mortgage (super priority over all other liens that arose before the PMM—regardless of whether the PMM or those liens were recorded) First recorded liens (sr priority) All other recorded liens (jr priority) Unrecorded liens (lowest priority)

Answer 92

(i.e., contract for deed) is a contract under which the seller retains title to the property until the buyer makes the final payment under an installment plan.

Answer 93

in one of three ways: Allow the seller to retain ownership of the property but require some form of restitution to the buyer Offer the buyer an equitable right of redemption—i.e., the buyer can keep the property by paying the full balance of the installment contract at any time prior to the foreclosure sale Treat the installment land contract as a mortgage, so the seller must foreclose to gain title to the property and the buyer has an equitable right of redemption and other protections

Answer 94

tendering to the owner the full balance due under the contract prior to foreclosure.

Answer 95

In kind – physical division of the property into distinct lots that are proportionate to each cotenant's ownership interest By sale – forced sale of the property where the proceeds are divided in accordance with each cotenant's ownership interest

Answer 96

Courts prefer to make a partition in kind. But when physical division of the land is impossible, impracticable, or inequitable, a court will grant a partition by sale.

Answer 97

All - Tenancy in common, joint tenancy, tenancy by the entirety

Answer 98

Tenancy in common, joint tenancy, but NOT tenancy by the entirety

Answer 99

NO. A buyer who assumed a mortgage as *part of the purchase price* may not raise defenses—e.g., duress, statute of limitations, lack of legal capacity—that the debtor could have raised to avoid the mortgage obligation. Otherwise, the buyer would be unjustly enriched.

Answer 100

The Rule of Convenience prevents the Rule Against Perpetuities from being applied to class gifts by closing class membership when any member of the class is entitled to immediate (present) possession of a share in the class gift.

Answer 101

a donee who receives property from a grantor protected by a recording act will receive the same protection as the grantor under the recording act.

Answer 102

Common Law: - light - air - support - water access Modern view: - view - solar access - conservation

Answer 103

if they are protected by statute or enter into an agreement with the neighboring landowner to create a negative easement

Answer 104

But courts generally decline to recognize blockage of light as a private (or public) nuisance unless the blockage was motivated by malice

Answer 105

one party (the option holder) receives the exclusive right to purchase the property (i.e., "exercise the option") during a specified time period in exchange for consideration. Under an option contract: - the grantor cannot revoke the option during the specified time period - the option does *not* terminate upon the death or incapacity of the grantor and - the option holder can make a "counteroffer" without losing the right to exercise the option

Answer 106

No. grantor must receive the option holder's decision to exercise the option within the time period specified in the contract.

Answer 107

Intent to create common scheme – the owner intended to impose a servitude on all lots in the subdivision (here, the deeds to most of the lots contained a two-story height restriction) Restrictive servitude – the intended servitude is a promise not to do something on land (here, a promise not to build a three-story residence) Notice – the person to be bound by the servitude had actual, record, or inquiry notice of the servitude (here, the speculator received actual notice through the rancher's letter, and the couple had inquiry notice because no three-story residences were on the other lots) ****Nevertheless, if the common scheme arose after some of the lots were already sold, then the previously sold lots will not be incorporated into the common scheme or subject to the implied equitable servitude. Since the rancher's scheme was created after the lot was sold to the speculator, neither the speculator nor the couple is subject to the implied equitable servitude.

Answer 108

implied reciprocal servitudes, mutual rights of enforcement, and reciprocal negative servitudes.

Answer 109

either party upon default, and the original debtor can recover any amount paid from the grantee.

Answer 110

due on sale clause allows a lender to demand full payment of any remaining mortgage debt if the debtor transfers the mortgaged property without the lender's written consent. If this clause is waived, the debtor remains liable on the note—even after transferring the mortgaged property—until the debtor is released by the lender.

Answer 111

- Future interest if future-interest holder has not agreed to transfer title - Private encumbrance (eg, mortgage, covenant, option, easement, lease, liens) - Significant physical defect (eg, incurable encroachment) - Title acquired by adverse possession & not quieted by judicial decree - Zoning-ordinance violation FEPAZ Frozen Elsa Planking Around Zillow Other red flags: gaps in chain of title, boundary disputes

Answer 112

a reversion (if title reverts to the grantor) or a remainder (if it passes to someone other than the grantor)

Answer 113

a life estate that may be terminated upon the death of an individual OR by the occurrence of a stated event (e.g., "to my companion for life or until she vacates the premises").

Answer 114

a reversion (if the estate reverts to the grantor) or an executory interest (if the estate passes to a third party) If title passes to someone other than the grantor when the present interest terminates, then the estate is followed by a remainder *and* an executory interest.

Answer 115

These future interests may be transferred during life or upon death.

Answer 116

the possessor objectively demonstrates an intent to claim the land—regardless of the possessor's subjective intent.

Answer 117

subjective Some of these jurisdictions require that the intent be based on the possessor's good-faith belief that he/she has the legal right to possession, while others require that the intent be based on bad faith (i.e., aggressive trespass).

Answer 118

deed—not by oral agreement or by simply removing a trespassing structure.

Answer 119

Judicial sale (all states): Judicially supervised public sale of mortgaged property Nonjudicial sale (half of all states): Privately conducted public sale of mortgaged property (permitted only if mortgage contains power-of-sale clause) Strict foreclosure (few states): Foreclosure without sale of mortgaged property

Answer 120

the foreclosing mortgagee (lender): 1. must give notice to the holders of any junior interests in the property so that they can participate or send a representative—otherwise, the junior-interest holder's interest will remain after the sale 2. may, but need not, join others who have an interest in the property (e.g., senior-mortgage holder) or are liable on the debt (e.g., guarantor) as proper, but not necessary, parties

Answer 121

obligations that are collateral to and independent of the conveyance (e.g., the seller's obligation to remove his/her personal property prior to closing) are usually not subject to the doctrine of merger. (might not be comprehensive)

Answer 122

borrower (mortgagor) does not have personal liability for the loan and is not liable for any deficiency. However, the bank can still enforce its mortgage through foreclosure

Answer 123

for residential property (Fewer than 5 dwelling units) - Devise, descent, or transfer to joint tenant upon death - Transfer to spouse or child - Transfer to ex-spouse in divorce - Transfer to borrower's living trust - Creation of subordinate lien without occupancy rights - Granting leasehold interest of less than 3 years without option to purchase

Answer 124

If at least one but not all members of the class receive a vested remainder at the time of the conveyance, then that vested remainder is subject to open.

Answer 125

voids specific contingent future interests unless they must vest or fail within 21 years after the end of a relevant life in being when the interest was created.

Answer 126

RAP if a future interest is transferred to a class and RAP voids the transfer to any member of that class, then the transfer is void as to all class members

Answer 127

Direct restraints are disfavored. - Only valid if reasonable Balance utility of restraint against harm resulting from enforcement - ex: Prohibiting some or all types of transfers, Prohibiting transfer without consent, Prohibiting transfer to particular persons Indirect restraints are valid unless lacking rational justification - ex: Imposing transfer fees; Limiting property's use/reducing its value

Answer 128

indirect restraint on alienation Such a provision is valid if it complies with the statute of frauds—i.e., is in a writing that is signed by the party to be charged contains all essential terms— and its terms are reasonable.

Answer 129

it is affirmatively created by the parties in a writing that complies with the statute of frauds (e.g., a deed).

Answer 130

Uses intended by parties OR reasonably necessary to use/enjoy easement if intent is unknown Expansion of use permitted

Answer 131

Limited to scope of prior use No expansion of use

Answer 132

Normal uses needed for dominant estate (eg, ingress/egress, utility lines) Expansion of use permitted

Answer 133

Limited to scope of adverse use during prescriptive period No expansion of use

Answer 134

An easement holder may increase the manner, frequency, or intensity of an easement's use so long as that increase does not unreasonably damage or interfere with the use or enjoyment of the servient estate.

Answer 135

self-help abatement (e.g., blocking off the easement), damages, or an injunction—not termination of the easement.

Answer 136

the contract specifically states that "time is of the essence" circumstances indicate that it was the parties' intention to strictly adhere to the closing date or one party gives the other party notice that time is of the essence within a reasonable time prior to closing.

Answer 137

Yes and is liable at law for incidental losses (e.g., taxes, interest) BUT a party's failure to perform on the closing date is not grounds to rescind the contract so long as the party can perform within a reasonable time thereafter.

Answer 138

Yes A fee simple subject to a condition subsequent (FSSCS) is created through specific conditional language—e.g., "but if," "unless," "provided that." Upon the occurrence of the condition, the grantor (or his/her successor in interest) has the right to enter and terminate the estate if the grantor explicitly retained this "right of entry" (aka "power of termination") in the conveyance.

Answer 139

Right of entry Upon the occurrence of the stated condition, the FSSCS will terminate only if the holder of the right of entry affirmatively demonstrates an intent to terminate—e.g., by bringing an eviction action.

Answer 140

the mortgagor's interest in the property the mortgage interest being foreclosed upon any junior interests attached to the property (not senior!)

Answer 141

Actual – the purchaser has actual knowledge of a prior interest in the property Constructive (i.e., record) – a document showing that a prior interest has been recorded appears in the purchaser's chain of title Inquiry – the purchaser knows, or should know, of circumstances that would prompt a reasonable person to investigate

Answer 142

Payment of value Yes: - Release of existing debt - Substantial amount not grossly inadequate in relation to property interest's value No: - Security for existing debt (e.g. judgment creditors) - Nominal payment (eg, $1) - Recital of consideration in deed - Gift, devise, or inheritance

Answer 143

The assignee-landlord can then enforce covenants (i.e., promises) in the lease that run with the land.* A covenant runs with the land when: - the original parties intended to bind successors in interest (e.g., assignee-landlord) - even if not explicitly stated - the covenant touches and concerns the land—i.e., affects the land's use or value and - the assignee-landlord is in privity of estate with the tenant—i.e., a mutual or successive relationship in the same property interest.

Answer 144

Yes. this contingent future interest is void if it there is any possibility that it could vest more than 21 years after some relevant life in being at the creation of the interest.

Answer 145

contingent future interests----- - contingent remainder - vested remainder subject to open - executory interest - power of appointment - right of first refusal - option Interest must vest or fail within 21 years after some relevant life in being at creation of interest

Answer 146

Writing Grantor's signature Identity of parties Words of transfer Property description Mnemonic: Will Grant Interest When Proper

Answer 147

Lender receives security interest in property but title stays with tenant-mortgagor Severed upon foreclosure sale & converted to tenancy in common

Answer 148

Lender receives legal title to property & tenant-mortgagor retains right of possession Immediately severed when mortgage is given & converted to tenancy in common

Answer 149

in his/her own joint-tenancy interest without the other joint tenant's consent, but the mortgage will attach only to the mortgaging tenant's interest Whether the joint tenancy remains intact depends on the jurisdiction (lien theory is maj, title theory is min)

Answer 150

If this jurisdiction followed the lien theory, the joint tenancy would have remained intact after the farmer mortgaged her interest. And due to the right of survivorship, her joint-tenancy interest—and any mortgage attached to that interest—would have disappeared upon her death. Title theory: bank can foreclose bc joint tenancy was severed when mortgage was given (converted to TIC at time of mortgage given)

Answer 151

If the decedent has no will that disposes of the property and no heirs upon his/her death, then the property will revert to the state (i.e., escheat).

Answer 152

TIC In most states, there is a rebuttable presumption that a conveyance of property to two or more persons as joint owners creates a tenancy in common rather than a joint tenancy. The modern trend focuses on the intent of the parties if the language creating the tenancy is unclear

Answer 153

a fee simple absolute

Answer 154

specific durational or conditional language (e.g., "so long as," "but if")

Answer 155

(i.e. record) when a prior interest was properly recorded in the land records and appears in the property's chain of title

Answer 156

Most jurisdictions follow the grantor-grantee recording index (default rule), where recorded documents are organized by names of parties to a conveyance, while a minority of jurisdictions use a tract indexing system.

Answer 157

A recorded deed that is not found within the chain of title is called a "wild deed" and fails to give constructive notice to subsequent purchasers

Answer 158

A seller of residential property has a duty to disclose any known material defects—i.e., defects that (1) substantially affect the value of the residence, (2) impact the health or safety of a resident, or (3) affect the desirability of the residence to the buyer—that *cannot* be reasonably discovered by the buyer. (value, health/safety, desirability)

Answer 159

rescind the sale or seek damages.

Answer 160

(warranty & special warranty deeds) Present covenants (breached at time of conveyance) - Seisin (Grantor owns interest being conveyed) - Right to convey (Grantor has legal right to convey interest) - Against encumbrances (No encumbrances (eg, easements, mortgages) against interest conveyed) Future covenants (breached upon interference with possession) - Warranty (Grantor will defend & compensate grantee for lawful claims made against grantee's title) - Quiet enjoyment (Grantee's possession & enjoyment will not be disturbed by another's lawful claim of title) - Further assurances (Grantor will take any actions reasonably necessary to perfect grantee's title)

Answer 161

Acceleration clause Due-on-sale clause Due-on-encumbrance clause Defeasance clause

Answer 162

Common mortgage provision Allows creditor to demand entire loan due & payable if debtor defaults

Answer 163

Common mortgage provision Allows creditor to demand entire loan due & payable if debtor sells mortgaged property without permission

Answer 164

Common mortgage provision Allows creditor to accelerate mortgage obligation if debtor obtains second mortgage or otherwise encumbers property

Answer 165

Common mortgage provision Requires creditor to give debtor legal title to property & release mortgage lien once all payments are made

Answer 166

destroys unity of title and severs the joint tenancy with respect to that interest. If there are more than two joint tenants, then severing one tenant's interest does not affect the joint tenancy between the remaining tenants.

Answer 167

Transfer of mortgage without note (tho jx split as to effect of transfer)

Answer 168

A promissory note can be assigned to another (an assignee) independent of the mortgage. The mortgage automatically transfers with the note once the note has been properly assigned (unless the parties agree otherwise)

Answer 169

A negotiable promissory note can be assigned by simply endorsing and delivering the note to the assignee.

Answer 170

a nonnegotiable promissory note requires a separate assignment document to transfer ownership.

Answer 171

Under the doctrine of equitable conversion, a buyer receives equitable title to real property upon entering a land-sale contract. In contrast, the seller retains legal title and acquires the equitable right to receive the purchase price upon closing. Due to the doctrine of equitable conversion, a judgment obtained against a seller after the execution of a land-sale contract is not enforceable against the real property—even if the claim arose before the contract was executed.

Answer 172

a judgment obtained against the seller after the execution of the land-sale contract IS NOT enforceable against the real property—even if the claim arose before the contract was executed.

Answer 173

Seller has legal title to property (and acquires the equitable right to receive the purchase price upon closing) Buyer has equitable title to property

Answer 174

Separate grantor & grantee (except concurrent estates) Identifiable by name or description CANNOT be ambiguous, unidentifiable, nonexistent grantee

Answer 175

Identifiable by reasonable certainty—eg: Government survey Metes & bounds Street, lot, house number CANNOT be Ambiguous description (but extrinsic evidence admissible); CANNOT be Undefined part of larger parcel

Answer 176

"Convey" "Transfer" "Grant" "Sell" NOT lease, rent, license

Answer 177

generally yes

Answer 178

rescind the contract. This is true even if the seller can correct the issue within a reasonable time after closing.

Answer 179

delivered by the grantor – demonstrated by the grantor's intent to make a present transfer of the property and accepted by the grantee – presumed when the transfer is beneficial to the grantee.

Answer 180

be implied from the grantor's words or other conduct (e.g. The farmer signed and notarized the deed and then started to deliver it to the friend before stopping for lunch)

Answer 181

physical delivery of deed recording unconditional delivery to agent grantee's possession of property/deed (can be implied from words or conduct! it's about grantor's present intent to transfer)

Answer 182

support from beneath the surface of land—arises when the owner of land grants the right to mine minerals to a third party.

Answer 183

*when acquired mineral rights matters* strictly liable to the surface owner for any failure to support the land and any buildings that existed on the land at the time the mineral rights were conveyed (provided that the damage would have occurred in the land's natural state) or liable for negligence for any damage to improvements built after the mineral rights were conveyed.

Answer 184

grantor tenancy in common with the other cotenant(s) named in the deed. (Since the buyer paid the full purchase price, she can likely recoup one-half of the purchase price from the original owner in an unjust enrichment action.)

Answer 185

A mortgagor (e.g., debtor) in possession of the mortgaged property has a duty not to commit waste that would impair the mortgagee's (e.g., lender's) security interest in that property. (prob not conclusive)

Answer 186

Waste occurs when, for example, the mortgagor fails to maintain or repair the property in a reasonable manner.

Answer 187

a loan secured by collateral, but for which the borrower is not personally liable.

Answer 188

a deficiency judgment against a party who is personally liable for the loan. (not personally liable if nonrecourse loan)

Answer 189

If the mortgagor breaches this duty, the mortgagee can recover damages for the impairment.

Answer 190

the seller will convey marketable title to the buyer upon closing unless otherwise stated. To be marketable, title must be reasonably free from doubt and under no threat of litigation, such that a reasonable person would accept and pay for it.

Answer 191

rescind the contract and refuse to close. The buyer can also choose to accept the land with the defect and enforce the contract. If the seller refuses to perform, then the buyer can: - rescind the contract and seek restitution - seek specific performance with an abatement of the purchase price (e.g. compensate for defect - zoning violation) or -sue for damages.

Answer 192

Under the doctrine of subrogation, a third party (subrogee) who pays another's mortgage loan in full becomes the owner of the loan and the mortgage securing that loan to the extent necessary to prevent unjust enrichment. This means that the subrogee may seek reimbursement from the debtor (the former owner) or enforce the mortgage. Therefore, the manager can enforce the mortgage against the bookkeeper (other co-tenant)'s one-half interest in the store to recover the bookkeeper's share of necessary expenses. (The manager and the bookkeeper own the store as tenants in common with equal ownership interests. Since they did not assume the mortgage (they took subject to it), they are not liable for the mortgage debt. But as cotenants, the manager and the bookkeeper still owe each other a duty to pay their proportionate share of necessary expenses. Here, a necessary expense arose when the bank threated to foreclose on the mortgage and the manager paid the owner's debt in full to prevent the foreclosure.)

Answer 193

CL (if no recording statute) Under this default rule, you don't need to ask who paid value, who recorded when, or who had notice. In other words, the first taker wins, full stop.

Answer 194

You are correct that donees are not protected by recording statutes because they are not "subsequent purchasers." But this does not mean that all donees automatically lose to subsequent purchasers. Instead, it just means that a donee cannot use the recording act to shield their claim against a prior taker. However, if a donee records their own interest, they can deprive subsequent purchasers of the opportunity to record first or take the property without notice of the donee's interest. When a donee immediately records their interest, even though they can't claim protection under the recording act, they essentially knock the recording act shield out of the next claimant's hands. When that happens, since no one can claim protection under the recording act, the first taker wins.

Answer 195

the outward and visible acts

Answer 196

(1) the loan proceeds are used to acquire title to or construct improvements on the property and (2) the mortgage is given as part of the same transaction in which title is acquired.

Answer 197

IS MAY NOT

Answer 198

life state measured by the life of someone other than the current holder of the life estate (e.g. transferred from someone with a life estate)

Answer 199

life tenant has the right to all rents and income during the tenancy. also has a duty to pay current charges that become due (e.g., property taxes, mortgage interest) unless the document creating the life estate provides otherwise. - This duty is limited to the amount of income that can be generated from the land. (not comprehensive prob)

Answer 200

Under the doctrine of tacking, an adverse possessor may tack on the predecessor's time if there is privity between successive adverse possessors.

Answer 201

privity is satisfied if the possessor takes by nonhostile means (e.g., by descent, devise, contract, deed).

Answer 202

Maj: doctrine of equitable conversion and place the risk of loss on the buyer during the executory period (true regardless of actual posession) - about when buyer gets legal title Min: Uniform Vendor and Purchaser Risk Act. Under this act, the risk of loss remains with the seller until the buyer takes possession of or receives legal title to the property. - about when buyer gets either legal title or possession

Answer 203

equitable mortgage

Answer 204

An equitable mortgage can be established when a debtor gives an absolute deed—i.e., a deed that is free of encumbrances and transfers unrestricted title to property—to a lender with the intent to secure a loan. The debtor-grantor must prove by clear and convincing evidence that the deed was intended as security for a loan—not as an outright transfer.

Answer 205

The deed recipient, like any other lender, may then bring a foreclosure action if the debtor defaults. equitable mortgage is not an outright transfer of the lot. Therefore, the investor cannot immediately evict the owner. The lender must first follow any applicable foreclosure procedures.

Answer 206

Yes SoF does not prevent the introduction of oral evidence to explain or interpret a written deed—e.g., to show that the deed was subject to an agreement that the property serve as security for a loan. Additionally, the parol evidence rule does not prevent the admission of evidence to establish the existence of such an agreement because the deed was not intended to be a complete integration of the parties' agreement.

Answer 207

grantor's signature is forged deed is forged (ie, falsely made or materially altered with intent to defraud) or grantor is deceived about nature of executed document

Answer 208

procured by fraudulent inducement or party lacks capacity to execute deed (eg, infancy, lack of capacity)

Answer 209

A void deed is invalid at its inception and conveys no title to the grantee.

Answer 210

line of credit a mortgage given by a debtor (mortgagor) in exchange for the right to receive money from the lender (mortgagee) in the future.

Answer 211

optional – in which case, the future-advances mortgage has priority with respect to amounts loaned before the future-advances mortgagee received notice of a subsequent mortgage or obligatory – in which case, the future-advances mortgage has priority with respect to amounts loaned before and after the future-advances mortgagee received notice (actual or constructive) of a subsequent mortgage.

Answer 212

yes (Question ID# 10339)

Answer 213

judgment liens.

Answer 214

No - mortgage does not automatically have priority over a judgment lien.

Answer 215

the "first in time, first in right" rule unless a recording act applies. recording act doesn't always protect judgment liens.

Answer 216

race, color, religion, sex, handicap, national origin, or familial status (includes having custody of children under 18 and being pregnant)

Answer 217

refusing bona fide offer discriminating in terms, conditions, privileges, or services of purchase/rental advertising preference for or discrimination against buyer/renter falsely representing dwelling's availability for inspection, sale, or rental inducing sale/renting with discriminatory representations about neighborhood denying reasonable modifications to accommodate handicap at occupant's expense

Answer 218

religious organizations private clubs that incidentally provide lodging to members familial status for senior housing owner of ≤ 3 single-family dwellings* owner-occupied dwellings with ≤ 4 units* sale/rental of single-family home by private owner

Answer 219

Duty to repair & maintain--- Easement holder must repair & maintain easement to extent necessary to: - prevent unreasonable interference with enjoyment of servient estate - protect servient-estate owner from liability to third parties Duty to contribute --- Other easement holders and/or servient-estate owner who share easement must contribute to reasonable costs of repairs & maintenance

Answer 220

Yes, IF he/she uses the easement

Answer 221

estoppel by deed

Answer 222

a grantor conveys property to a grantee by warranty deed before the grantor has acquired title to that property. Once the grantor receives title, this doctrine will cause it to automatically transfer to the grantee.

Answer 223

A PMM has priority over liens that arose prior to the PMM regardless of whether the PMM was recorded. But a PMM does not necessarily have priority over subsequent liens. Instead, the recording act (or, if there is no recording act, the "first in time" rule) will control.

Answer 224

Condemnation (eminent domain) Material breach Frustration of purpose Novation CMFN Can't Make Francs Now

Answer 225

depends upon whether the condemnation is: partial – where only a portion of the leased property is taken, so the tenant must continue to pay rent but is entitled to compensation for the portion that was taken or complete – where the entire leased property is taken, so the tenant is discharged from his/her rent obligation and is entitled to compensation for the taking.

Answer 226

excuses tenant's duty to pay rent if Property becomes unsuitable for contemplated use due to unforeseeable: - change in property's physical condition (not caused by tenant) - change in law (eg, zoning code) - government action other than condemnation (eg, wartime rationing)

Answer 227

Landlord breaches: - implied promise to deliver possession - implied warranty (ie, quiet enjoyment, habitability) - express lease provision partial eviction and constructive eviction matter too (under implied warranty?)

Answer 228

not to interfere with the tenant's possession of the leased premises. It is breached only when the landlord prevents the tenant from possessing the leased premises (i.e. not fault of landlord, not breaching implied covenant)

Answer 229

the *landlord* (not someone else e.g. gov't) breaches a duty to the tenant that substantially interferes with the tenant's use and enjoyment of the leasehold (e.g., failing to make repairs). A tenant's duty to pay rent is excused if the landlord was responsible for the partial eviction.

Answer 230

A partial eviction occurs when a tenant is prevented from possessing or using a portion of the leased premises. The tenant is excused from paying rent for the entire premises if the landlord was responsible for the partial eviction.

Answer 231

relieved of personal liability for the mortgage debt. In some states, a release completely discharges the debtor's personal liability. In other states and under the Restatement, the debtor's personal liability is discharged only to the extent of the value of the released property.

Answer 232

the lender releases or impairs the mortgaged property.

Answer 233

CL: No duty to disclose property defects unless otherwise provided (Caveat emptor - burden on buyer)

Answer 234

Modern approach: Must disclose known material defects that buyer could not reasonably discover Exception: "as is" clause or specific disclaimers without seller's fraud

Answer 235

Implied promise by builder, developer, or other commercial seller of NEW house that house was built in reasonably workmanlike manner & is suitable for living

Answer 236

Fee simple determinable Fee simple subject to condition subsequent

Answer 237

owner has a reversion or if it goes to a third party, the third party has a remainder.

Answer 238

yes but always subject to the stated condition

Answer 239

the seller promises to deliver marketable title

Answer 240

yes, if seller can deliver marketable title at closing (or within reasonable time if time not of essence)

Answer 241

the underlying obligation is enforceable.

Answer 242

is mistake, duress, lack of capacity, statute of limitations.

Answer 243

If so, then choosing one option does not preclude subsequently pursuing the other, and one option need not be pursued before the other.

Answer 244

Yes. A mortgage may be enforced separately from the obligation for which the mortgage serves as security.

Answer 245

enforce the mortgage and foreclose.

Answer 246

yes though extrinsic evidence can be used to identify the grantee, the deed will be deemed void if such evidence is also unclear.

Answer 247

the amount of liquidated damages is reasonable—e.g., no more than 10 percent of the purchase price. But when evaluating reasonableness, courts may also consider: - the sophistication of the buyer - the nature of the transaction (commercial v. residential) and - whether the seller suffered an actual loss (if not, courts may refuse to enforce the clause).

Answer 248

(1) the land is possessed without the owner's permission and (2) the possessor objectively demonstrates an intent to claim the land as his/her own—the possessor's subjective intent is irrelevant.

Answer 249

Necessity Existing prior use

Answer 250

Severance of common ownership *Strict* necessity for use & enjoyment of land

Answer 251

Severance of common ownership Prior existing use Apparent & continuous Reasonable necessity for use & enjoyment of land

Answer 252

must give notice to the holders of any junior interests in the property and make them parties to the foreclosure action so that they can participate or send a representative—otherwise, the junior-interest holder's interest will remain after the sale may, but need not, join others who have an interest in the property (e.g., a senior-mortgage holder) or are liable on the debt (e.g., a guarantor) as proper, but not necessary, parties

Answer 253

Cotenants owe a duty of fair dealing—but generally not a fiduciary duty—to each other. However, a fiduciary duty may be imposed on cotenants who: jointly purchase property in reliance on each other or acquire their interests at the same time from a common source (e.g., by gift, will, or inheritance).

Answer 254

This duty primarily arises when the co-owned property is sold at a tax or mortgage foreclosure sale and purchased by a cotenant. The other cotenants then have the right to reacquire their original interests by paying their share of the cost paid to acquire the property (based on the cotenant's ownership interest) within a reasonable time.

Answer 255

- Rescission & restitution (Rescind (ie, cancel) agreement & recover possession of property; Rental value & physical damages are recoverable; Buyer not liable for purchase price) - Specific performance (Seek an injunction ordering buyer to pay agreed purchase price; May be unavailable if money damages provide adequate compensation & property is not unique eg, condominium identical to other units in complex) - Damages (Loss of bargain = contract price – market value at time of breach; Liquidated damages = amount designated in the sales contract as compensation for breach; Retain buyer's deposit (up to amount of seller's actual damages); Incidental & consequential damages that were contemplated during sales contract or reasonably foreseeable)

Answer 256

the liquidated amount bears a reasonable relation to anticipated damages. Many courts have held that a deposit of no more than 10% of the purchase price is reasonable.

Answer 257

The equal-dignities rule requires that an agent's authority be in writing when the act performed by the agent on the principal's behalf is subject to the statute of frauds (e.g., transfers of real-property interests). However, this rule does not apply to persons merely acting as the principal's amanuensis (i.e., scribe or secretary) by signing a specific deed at the grantor's request.

Answer 258

the leased property can be and is restored to its former condition and the removal and the restoration are made within a reasonable time.

Answer 259

A reasonable time for removal generally does not extend beyond the termination of the lease. However, it does so when (1) the termination was not due to a breach by the tenant and (2) the date of termination was not foreseeable by the tenant sufficiently far enough in advance to permit removal before the lease terminates

Answer 260

the landlord must give the tenant notice of termination before the beginning of the intended last period of the periodic tenancy.

Answer 261

Parent and child Mental-health professional and patient Employer and employee Custodian and prisoner Mnemonic: Please Make Everyone Careful

Answer 262

Depends if on land or off land.... *ON LAND* unreasonably dangerous natural or artificial conditions on the land if: the condition exists at the time of the sale the seller knows or has reason to know of the condition and its unreasonable risk to persons on the land the buyer does not know or have reason to know of the condition or risk and the seller has reason to believe that the buyer would not discover the condition or realize its risk. *OFF LAND* The seller may also be liable to persons off the land for artificial conditions if (i) the condition existed at the time of the sale, and (ii) the seller knew or should have known the condition existed and that it posed an unreasonable risk

Answer 263

A seller who breaches this duty is liable for physical harm caused by the unreasonably dangerous condition—at least until the buyer has had a reasonable opportunity to discover and remedy the condition. However, if the seller created or actively concealed the condition, then the seller's liability continues until the buyer has actually discovered and had a reasonable opportunity to remedy the condition.

Answer 264

Zone of danger - yes Bystander - yes Special-situations theory - NO for corpse mishandling, asked about other two

Answer 265

defendant negligently: - delivered an erroneous announcement of death or illness - mishandled the corpse or bodily remains of a loved one or - contaminated food with a repulsive foreign object.

Answer 266

Yes - This duty is breached when the commercial seller fails to exercise reasonable care in the inspection or sale of the product and the defect would have been discovered had such care been used.

Answer 267

the benefit of the bargain. That is determined by calculating the difference between the actual value received by the plaintiff in the transaction and the value that would have been received had the representation been true. example: The actual value received by the woman in the transaction was zero because the chainsaw was worthless. And the value that would have been received had the lumberjack's representation been true was $1,000. Therefore, the benefit of the bargain is $1,000, which is the highest amount the woman can recover.

Answer 268

Lapse Ademption Exoneration Abatement

Answer 269

notice statute (unlike race or race-notice statute)

Answer 270

prevent a gift from lapsing when: the gift is made to parties specified by the statute (usually the testator's immediate relatives)* and those parties leave children or other descendants (i.e., issue) who survive the testator. *In most jurisdictions, the anti-lapse statute is limited to grandparents or a descendant of a grandparent of the testator (e.g., aunts, uncles, parents, siblings, children).

Answer 271

Costs from the foreclosure sale Mortgage being foreclosed Junior mortgages or liens, in the order of priority Debtor

Answer 272

generally has no impact on the senior mortgagee's priority over junior mortgages or liens. However, a modification that *materially prejudices* a junior interest (e.g., increase in interest rate) will subordinate the senior mortgagee's interest only as to the modification. The senior mortgagee's original interest will therefore remain superior to the junior interest.

Answer 273

Easement appurtenant - Benefits easement holder's land - Automatically transfers when land is conveyed (eg, easement by necessity) - Easements are presumed to be appurtenant unless otherwise stated - Unless otherwise stated, an easement appurtenant cannot be used for the benefit of property other than the dominant estate. Easement in gross - Benefits easement holder personally - Does not transfer when land is conveyed (eg, prescriptive easement for utility line)

Answer 274

Not allowed. Remedy: damages or injunction Damages are appropriate when there is no increased burden on the servient estate.

Answer 275

Possess & enjoy entire property (absent an agreement to the contrary, a cotenant generally has no duty to pay rent to the other cotenants) Receive proportionate shares of net profits from removal of natural resources Receive pro rata shares of rent from third parties

Answer 276

Pay proportionate shares of expenses that may give rise to lien (eg, mortgage, property tax)* Contribute to repair or improvement costs, but only upon agreement** *A cotenant can collect contribution from the other cotenants for paying more than his/her portion of necessary or beneficial operating expenses (e.g., taxes). But a cotenant in sole possession can collect only for the amount that exceeds the property's rental value. **cotenants have no right to be reimbursed by other cotenants for repairs made to the property—even when those repairs were necessary—absent an agreement.

Answer 277

Contingent remainder Vested remainder subject to open Executory interest Power of appointment Right of first refusal Option (RAP applies UNLESS the right was granted in a lease to a current leasehold tenant)

Answer 278

A majority of jurisdictions have adopted the Uniform Statutory Rule Against Perpetuities (USRAP), which adopts a “wait and see” stance with respect to the applicability of the Rule. Under this stance, an otherwise invalid interest is valid if it does in fact vest within 90 years after its creation. Under the USRAP, the Rule generally does not apply to future interests arising from *commercial transactions,* including options to purchase, preemptive rights (e.g., right of rst refusal), and future leases.

Answer 279

A joint tenant may only grant a mortgage on his/her own joint-tenancy interest without the other joint tenant's consent. May grant mortgage on whole thing with consent

Answer 280

Whether the joint tenancy remains intact depends on the jurisdiction: Lien theory (majority rule) – a mortgage is merely a lien on the property, which means that granting a mortgage does not sever the joint tenancy but a severance will occur upon a foreclosure sale following a default Title theory (minority rule) – a mortgage constitutes a transfer of title, which means that granting a mortgage does sever the joint tenancy and the mortgagor-tenant becomes tenants in common with the other joint tenants

Answer 281

Strict products liability Negligence Intentional tort Misrepresentation (strict liability - regardless of defective) Warranty - Merchantability (implied) - Fitness for Partic Purpose (implied) - EXpress

Answer 282

Commercial seller (ie, manufacturer, distributor, retailer) produced or sold defective product Defect caused plaintiff harm

Answer 283

Seller (commercial or noncommercial) failed to use reasonable care in producing or inspecting defective product Product caused plaintiff harm

Answer 284

Seller (commercial or noncommercial) purposefully or knowingly produced or sold defective product Product caused plaintiff harm

Answer 285

Commercial seller misrepresented material fact about product Consumer justifiably relied on misrepresentation when purchasing product Product caused plaintiff harm -------- Commercial sellers are strictly liable for the misrepresentations they make regarding their products—regardless of whether those products are defective.

Answer 286

Merchantability (implied) - Commercial seller warranted product is generally acceptable & reasonably fit for its ordinary purpose Fitness for particular purpose (implied) - Seller (commercial or noncommercial) warranted product is fit for particular purpose - Purchaser relied on seller's judgment or skill to purchase product Express - Seller (commercial or noncommercial) made affirmation of fact or promise that is part of basis of bargain

Answer 287

plaintiff can recover damages resulting from: physical harm—i.e., personal injury or damage to property—and economic losses—including consequential damages (e.g., lost profits)—that stem from the alleged physical harm.* *Purely economic losses do not stem from any physical harm and are available only in breach of implied warranty claims—not other products liability claims.

Answer 288

any such disclaimer or limitation does not bar or reduce an injured plaintiff's recovery for physical harm. in the case of consumer goods, any limitation of consequential damages (e.g. lost profits) for personal injuries is unconscionable and therefore invalid.

Answer 289

English rule (Maj): Deliver ACTUAL possession to tenant (i.e. remove third party wrongfully possessing property) American rule (Minority): deliver LEGAL possession to tenant (ie ensure no third party has "right" to possess property

Answer 290

Withhold rent to acquire possession Seek damages to period not in possession Terminate lease

Answer 291

pay rent for the remainder of lease. In most jx, landlord has duty to mitigate damages by making reasonable effort to re-rent the property (and tenant's liability for rent will be reduced accordingly)

Answer 292

by LL express agreement by LL retaking possession of property plus either LL's own use or re-renting to third party. --------------- Lease is terminated and tenant is NOT liable for future rent

Answer 293

aka profit nonpossessory interest in land that gives the profit holder the right to enter another's land to remove specific natural resources. Bc interest in land, profit holder is entitled to comp if gov't condemns the property under the power of eminent domain (true regardless of whether profit holder paid value or has exclusive right to remove the resources)

Answer 294

Easement acquired through use that is: Open & notorious – apparent or visible to reasonable owner Continuous – uninterrupted for statutory period Actual – use of land Nonpermissive – hostile & adverse to owner Mnemonic: OCAN

Answer 295

Traditional: owe a limited duty to known or anticipated trespassers to (1) warn trespasser about hidden, artificial dangers that are KNOWN to land possessor but UNLIKELY to be discovered by the trespasser; AND (2) use reasonable care while conducting activities on their land Modern approach: owe a duty of reasonable care to all land entrants (except flagrant trespassers)

Answer 296

set by its terms. when terms unclear, cts look to parties' intent (often evidenced by parties' conduct)

Answer 297

Servient owner may relocate (at own expense) to permit normal use/dev of servient estate if relocation (1) is reasonable, and (2) does not violate express easement's terms, significantly lessen easement's utility, increase burden on dominant owner's use or enjoyment of easement, frustrate easement's purpose.

Answer 298

applies when a sr creditor has 2 funds available to satisfy a debt (eg mortgage on multiple properties) and a jr creditor also has an interest in one of those funds. It requires the sr creditor to first look for satisfaction from the fund that is not shared so as to preserve the jr creditor's interest in the shared fund.

MBE Property MC Flashcards

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