Property Review Flashcards
(102 cards)
devisable v. descendible
devisable - passing by will
descendable - passing by heirs
is a joint tenancy devisable or descendible?
no but alienable inter vivos. not descendible or devisable bc passes to living JT. would void the transfer.
how to create a joint tenancy
need for unities!!! (T-TIP)
-Time
-Title (same deed, will, or other doc)
-Identical, equal interests
-Possess (w right to possess whole)
MUST CLEARLY SAY “WITH RIGHT OF SURVIVORSHIP”
Otherwise, presumed to be TiC
how to sever a JT
death of one in 2
partition
unilateral conveyance (would destroy the transferred interest in the JT bc disrupts 4 unities)
title mortgage (minority of states use title theory - most do lien)
foreclosure and sale
intentional murder by one of JT (turns into TiC)
types of partition
-voluntary agrmt
-judicial partition in kind [divides prop up - best when tons of acreage] (courts prefer)
-judicial forced sale [best when single building]
tenancy by the entirety
must be married when purchased prop! if so, presumed TbE.
creditors of only one spouse cannot touch TbE
unilateral conveyance or encumbrance does not sever [void] (includes mortgage)
how to sever TbE
death, divorce, mutual agreement, or execution by joint creditor of BOTH spouses
TiC properties
-owns an individual part w rights to possess whole [but no right to exclusive possession of any part]
-devisable, descendible, alienable
-presumed type of tenancy (e.g., Suppose that siblings Kevin and Randall co-own a cabin. Kevin contributed 90% of the purchase price and Randall 10%)
ouster
-when one co-tenant wrongfully excludes another co-tenant from possession of the whole
-actionable wrong
Tenant that has ousted is liable to others for rent
HOWEVER, unless FORMAL OUSTER has occurred, exclusive possession alone (without wrongful exclusion) does not render the exclusive possessing tenant liable to others for rent. He can also retain profits from his use of the property.
profit share w co-tenants
generally don’t have to except for rent and exploitation of land like mining
ouster and AP
Unless they have ousted the other co-tenant, the co-tenant in exclusive possession for the statutory period cannot acquire title to the whole to the exclusion of the other co-tenant.
WHY? Not hostile.
costs and repairs for co-tenants
COSTS
-each pays his fair share! Based upon individual share amount.
-includes taxes, mortgages, interest payments
REPAIRS
-contributions for reasonable and necessary repairs [based on share amount] required, provided that the co-tenants give each other notice of the need for the repairs
improvements for co-tenants
unilateral improvements
-no contribution required (credit at partition)
-decrease or increase in value by modification absorbed by the modifier!
co-tenant waste
must not commit waste or another can bring action against the other, like for partition
are restraints on partition for co-tenants valid
yes but only if for a reasonable time
do courts prefer partition in kind or partition by forced sale?
in kind but will force a sale if necessary
4 leaseholds
-tenancy for yrs
-periodic tenancy
-tenancy at will
-tenancy at sufferance
landlord has future reversion interest
when do the leaseholds end
YEARS
-auto at end date
-usually has right of entry if lessee breaks lease covenant (like failure to pay rent)
-SoF (must be in writing if over 1 yr)
PERIODIC
-when lessor OR lessee gives reasonable WRITTEN notice (usually one term) [so, continuous until properly terminated] [1 yr-1 month]
WILL
-terminable by either landlord or tenant [or potentially just tenant] w reasonable notice
how to create periodic tenancy
-express (e.g., A conveys to B month to month)
-implication (1. no mention of duration but provision is made for payment at set intervals; 2. oral term of years in violation of SoF; 3. lease after holdover tenant)
tenancy at will
“To T for as long as L or T desires”
no fixed period or duration
create expressly (if not, usually seen as periodic)
if the lease gives only the landlord the right to terminate, courts will find tenant also can. but if only tenant can terminate, courts won’t find landlord can.
is notice required for tenancy at sufferance
no
holdover tenants and instituting new lease
can bind them to new periodic tenancy. holdover equals assent.
residential = month to month
commercial = previous terms
exceptions to holdover doctrine
-tenant remains in possession for only a few hours after termination or leaves a few articles of personal property
-delay is not the tenant’s fault (for example severe illness)
in such cases, the landlord cannot bind the new tenant to a new tenancy
main tenant duties
-maintain premises
-make routine repairs (other than those due to ordinary wear & tear) [if says need to keep in good condition, heightened standard]
-don’t commit waste