Property

Question 1

Purchase-money mortgage

Answer 1

the money you use to purchase the property.

Question 2

If there are multiple loans, which loans on the property gets paid back first

Answer 2

Purchase money mortgage

Question 3

Redemeption is the remedy to

Answer 3

get the property back

Question 4

Equitale redemption

Answer 4

is the period of time from the notice of foreclosure until the foreclosure sale, this period of time

Question 5

What r the 2 types of equitable redemption

Answer 5

equitable and statutory

Question 6

Can the equitable redemption be waived

Answer 6

No

Question 7

Statutory redemption

Answer 7

is the period of time after the foreclosure sale until whenever

Question 8

Do you automatically have statutory redemption

Answer 8

No

Question 9

If you live in a lien theory state, lien theory state, when the bank or whomever gives you the money, they only have___ and you have

Answer 9

linen on the property and you have legal title

Question 10

TItle theory means who owns the property

Answer 10

Bank and you just have the right to live there

Question 11

what can you not do it a title theory jurisdiction

Answer 11

you cannot sell the house

Question 12

Joint tenants in a title theory jursidiction what happens to the JT

Answer 12

a TIC is created because the bank gets the title

Question 13

How can the secondary liable get out of the assumable mortgage

Answer 13

a novation

Question 14

deed in lieu of foreclosure means

Answer 14

you simply hand over the deed to the bank or whomever is owed the money, and you skip all the foreclosure proceedings

Question 15

What is needed for a foreclosure with mulitple parties

Answer 15

Notice of a foreclosure sale and joined the suit

Question 16

Deficiency judgement occurs when

Answer 16

The money that was recouped at the sale is deficient from the whole balance

Question 17

Installment land contract example

Answer 17

Buy a house for 200,000 and in lieu of the check, he will give you 10,000 a month for 20 months

Question 18

When do you get title to the installment land contrat

Answer 18

when you pay off

Question 19

what happens if you default in a land sale contract

Answer 19

either forceslosure or seller can come in and take property back

Question 20

A private nuisance is a

Answer 20

i) substantial
(ii) unreasonable interference with
(iii) another private individual’s use or enjoyment of property
(iv) that he actually possesses or to which he has a right of immediate possession.

Question 21

Susbtanital in a private nussiance is when

When is it not substantial.

Answer 21

if it is offensive, inconvenient, or annoying to the average person in the community.

if it is merely the result of the plaintiff’s hypersensitivity or specialized use of her own property.

Question 22

Unreasonable interference in a private nussiance

Answer 22

the severity of the inflicted injury must outweigh the utility of defendant’s conduct.

Question 23

What must the court take into account in a unreasonable interference

Answer 23

every person is entitled to use his own land in a reasonable way, considering the neighborhood, land values, and existence of any alternative courses of conduct open to defendant.

Question 24

Public Nuisance

Answer 24

an act that unreasonably interferes with the health, safety, or property rights of the community.

Question 25

When is recovery by a private property in a public nuisance available

Answer 25

only if the private party suffered unique damage not suffered by the public at large.

Question 26

What is defense to both private and public nuisance

Answer 26

Laches

Question 27

Laches

Answer 27

unreasonable delay by the party in bringing a claim, that caused prejudice to the other party

Question 28

Tresspass to Land

Answer 28

requires that the defendant (i) cause (ii) an intentional (iii) physical invasion of plaintiff’s real property. The defendant need only have the intent to enter the land.

Question 29

Defense to T2Land

Answer 29

Consent, Private Necessity

Question 30

Consent

Answer 30

complete defense to trespass to land.

Question 31

Private Necessity

Answer 31

A person may interfere with the property of another when it is reasonably and apparently necessary to avoid threatened injury and when the threatened injury is substantially more serious than the invasion that is undertaken to avert it. When the act is solely to benefit a limited number of people, it is a private necessity. However, while the defendant is relieved of liability, he must pay for any injury he causes unless the act was to benefit the property owner.

Question 32

Prescriptive easement

Answer 32

nonpossessory interest in land, creating a right to use the land possessed by someone else.

Question 33

Prescriptive easement is acquired when the possesion was

Answer 33

hostile open and nortious continious for statuory period

Question 34

The Takings Clause of the Fifth Amendment provides that private property

Answer 34

may not “be taken for public use, without just compensation

Question 35

How does the takings clause apply to the states

Answer 35

14A

Question 36

The power of the goverment ot take private property for public purpose is known as

Answer 36

Eminet domain

Question 37

What are the 4 things you discuss in a takings clause analysis

Answer 37

Property interest taking Public use Just compenstation

Question 38

Property interest

Answer 38

For a person to challenge a governmental action as an unconstitutional taking, the person must have a property interest.

Question 39

Taking - Seizure of property

Answer 39

The classic application of the Takings Clause is the seizure of private property for governmental use, such as acquiring privately held land in order to construct a courthouse.

Question 40

Public Use challenge

Answer 40

A government may seize private property not only for its own direct use but also to transfer the property to another private party. The taking need merely be “rationally related to a conceivable public purpose

Question 41

Just compenstation for the taking is

Answer 41

FMV at comparable sales in the neighborhood at the time of the taking