Property Tested topics

Question 1

Joint Tenancy

Answer 1

A tenancy where two or more persons own property w the right of survivorship

Question 2

Under VA law, if a right of survivorship is not expressly reserved in a grant, then tenancy will be construed as a

Answer 2

tenancy in common rather than a joint tenancy

Question 3

Is a joint tenancy alienable/divisible?

Answer 3

Alienable but not divisible

Question 4

Is a Tenancy in Common Alienable?

Answer 4

Yes, Each tenant can devise or freely transfer his interest to anyone w/o affecting the interest of any other tenant in common

Question 5

Joint tenancy must be created with each tenant having__

Answer 5

i_ equal right to possess or use property

ii) each tenant having equal interest in property

iii) at same time

iv) and in same instrument

Question 6

Tenancy by Entirety

Answer 6

Tenancy between two married persons.
Neither pparty can alienate or encumber property w/o consent of the other

Question 7

Tenancy by Entirety Upon Divorce

Answer 7

converted to a tenancy in common

Question 8

To transfer a real property interest, grantor must

Answer 8

demonstrate the intent to make a present transfer of the interest (ex, delivery of deed) and grantee must accept the interest

Question 9

Can title pass w/o recording?

Answer 9

In VA, title may pass w/o recording, so a deed need not be recorded to be valid and convey good title

Question 10

Upon divorce, tenancy by entirety/joint tenancy is converted to

Answer 10

tenancy in common w/ no right of survivorship

Question 11

Remainder

Answer 11

future interest created in a grantee that is capable of becoming presently possessory upon the natural expiration of a prior possessory estate that is created in the same conveyence in which the remainder is created

Question 12

Vested remainder

Answer 12

a remainder that is not subject to any conditions precedent and is created in an ascertainable grantee

Question 13

Are future interests transferrable/devisable/descendible?

Answer 13

In VA, all future interests, including vested remainders, are fully transferable inter vivos, devisable by will and descendible by inheritance

Question 14

Deed of Trust

Answer 14

Landowner delivers title to real property to a trustee as security for the payment of an obligation that typically the landowner owes another person (Eg, lender)

Functions as a mortgage in VA

Question 15

Can a vested remainder be encumbered by a deed of trust?

Answer 15

Yes

Question 16

Defaulting on Deed of Trust

Answer 16

On the landowner’s default on his obligation, the other person can instruct the trustee to sell the property and apply the sale proceeds to repay the obligation

Question 17

Prior to the trustee’s sale, landowner may regain title to the property by

Answer 17

repaying the obligation

Question 18

Landowner may sell the property that is subject to a deed of trust

Question 19

In that case, landowner may use proceeds from that sale to repay the obligation and thereby regain title to the property which landowner then transfers to the buyer of the property

Question 20

Fee Simple Determinable

Answer 20

A present fee simple estate limited by specific durational language, such that it terminates automatically upon the happening of a stated event and full ownership of the property is returned to the grantor

Question 21

Grantor’s retained future interest is called a

Answer 21

possibility of reverter…which arises automatically even if the grantor does not specifically reserve it

Question 22

Recording Statutes/Recording Easements in VA

Answer 22

Facially, Va’s recording statute reads as a notice statute

Question 23

However, in VA, the SC has found no error in trial ct’s conclusion that VA’s recording act makes VA a ___ jx

Answer 23

race notice jx

Question 24

Notice Statute

Answer 24

Subsequent bona fide purchaser who takes w/o notice will prevail over a prior property interest holder

Question 25

Under a race notice statute, subsequent purchaser must take

Answer 25

w/o notice and record their interest first

Question 26

Doctrine of Merger

Answer 26

Under doctrine of merger, provisions in a K for sale are extinguished and merged into the deed

Question 27

Merger: if a buyer has a claim against a seller, then the basis of the claim must be based on

Answer 27

the covenants in the deed, if any, and not on the K itself

Question 28

Merger: Exception

Answer 28

provisions which are collateral to the passage of title and not covered by the deed are not merged into the deed and survive its execution

Question 29

Collateral agreements

Answer 29

distinct agreements made in connection w the sale of the property that do not affect the title to the property, if they are not addressed in the deed and if they do not conflict w the deed

Question 30

Fraud/Intentional Misrepresentation

Answer 30

1) false representation of material fact 2) w intent to mislead 3) relied upon by P

Question 31

Curing Misrepresentation

Answer 31

can be cured and K is no longer voidable by adversely affected party if circumstances change in such a way that misrep becomes true before adversely affected party avoids the K

Question 32

Who can partition property?

Answer 32

Tenant in common or joint tenant has right to unilaterally partition property but a tenant by entirety does not have this right

Question 33

Partition in Kind Proceeding

Answer 33

Ct divides jointly owned property into distinct physical portions... If physical division is not practicable or fair, ct may order a partition by sale an distribute proceeds

Question 34

Does a Co-tenant have the right to reimbursement for improvements made to property?

Answer 34

generally, co-tenant does not have right to reimbursement for improvements made to property.... However, upon partition of the property, a ct may allocate proceeds from the sale of the property to compensate the co-tenant for value of improvements

Question 35

Bailment defintion

Answer 35

Bailor's delivery of her personal property to another person (bailee) to possess for a period of time....NO TRANSFER OF TITLE

Question 36

Bailment elements

Answer 36

Bailee must 1) INTENT+POSSESSION---physically possess property w intent to exercise control over it 2) CONSENT---consent to bailment 3) Be AWARE aarticle exists

Question 37

Bailee standard of Care

Answer 37

varies based on reason for bailment

Question 38

Standard of Care When bailment is solely for benefit of bailor

Answer 38

duty of slight diligence...bailee liable for gross negligence

Question 39

Standard of care in a bailment when bailor and bailee receive an Equal Benefit

Answer 39

ordinary care

Question 40

Bailee benefit

Answer 40

upmost care... liable for slight negligence

Question 41

Detinue

Answer 41

An action to recover actual property Person wrongfully deprived of personal property may file action for detinue, trespass, trover

Question 42

Bailment Theories of recovery

Answer 42

1) negligence 2) Breach of K 3) conversion (unathorized act over property of another of such nature as is inconsistent w right of owner...usining property in manner inconsistent w bailment) 4) Strict Liability strictly liable if bailee uses property for a different purpose other than agreed to 5) Damages

Question 43

Holder in Ordinary Course

Answer 43

Generally, a seller can only convey property he has title over However, under UCC as adopted by VA, entrusting goods to a merchant who deals in goods of the kind has power to transfer all rights of the entruster to a buyer in the ordinary course of business

Question 44

Buyer in ordinary course of business

Answer 44

person who buys in good faith and w/o knowledge that the sale to him is in violation of the ownership rights of a 3rd party in the goods

Question 45

Limiting Liability on Bailment

Answer 45

A bailee may limit its liability as long as bailor knows or should know of limitation and EXPRESSLY CONSENTS TO IT

Question 46

Is a Limitation placed on a claim check valid?

Answer 46

claim check is not a K btwn parties. Therefore, any limitation placed on a claim check is not valid unless it can be proven that bailor knew or should have known of limitation

Question 47

Constructive/Quasi Bailment

Answer 47

Differs from true bailment in that the chattel has not been delivered by or w permission of its owner to the bailee Liable only for gross negligence

Question 47

Marketable Title

Answer 47

title free from defects ... ie free from an unreasonable risk of llitigation

Question 48

Defects in title rendering it unmarketable include

Answer 48

i) title acquired by adverse possession not yet been quieted 2) future interests wherein holders of such interests have not agreed to the transfer 3) private encumberance (mortgage, easement, covenant, option) 4) violation of zoning ordinance 5) significant physical defect

Question 48

Title obtained by fraud is

Answer 48

voidable, not void, and cannot be challenged if property is in hands of bona fide purchaser

Question 49

Subsequent mortgagee/purchaser who takes without notice

Answer 49

has priority over earlier transferee

Question 50

6 English Covenants of title

Answer 50

1) covenant seisin 2) covenant right to convey 3) Covenant of free from all encumberances 4) covenant no act to encumber 5) covenant for further assurances 6) Covenant of Quiet Possession

Question 51

Covenant of Seisin

Answer 51

grantor has right to property described in deed

Question 52

covenant right to convey

Answer 52

grantor has right to transfer title

Question 53

Covenant of Free From all encumberances

Answer 53

deed contains no undisclosed encumberances

Question 54

covenant no act to encumber

Answer 54

grantor has taken no act that results in encumberance of the property

Question 55

Covenant for Further assurances

Answer 55

grantor will do whatever necessary to perfect title should it turn out to be defective

Question 56

Covenant of Quiet possession

Answer 56

grantee's possession will not be interfered w by a 3rd party's lawful claim for title

Question 57

Easement

Answer 57

right held by one person (dominant estate) to make specific, limited use of land owned by another (servient estate)

Question 58

Easement by necessity

Answer 58

property must be virtually useless w/o benefit of easement for an easement by necessity to be created... Usually arise when property is divided and portion becomes landlocked and cannot be accessed w/o use of an easmeent

Question 59

Easment by Prescription

Answer 59

In VA, easements by prescription can be obtained by continnuous, actual, open and hostile use for a period of 20n yrs The use need not be exclusive and scope of an easement by prescription is limited to the nature and extent of the adverse use

Question 60

What happens when servient estate transfers interest and easement is on interest

Answer 60

New owner is bound by easement unless they took property for value in good faith w/o knowledge of easement

Question 61

Damages for Breach of Land K

Answer 61

Non breaching party is entitle to any amount representing difference between the purchase price agreed to and market value of property

Question 62

Vested remainder

Answer 62

absolute right to title to certain property after an earlier interest terminates

Question 63

Easement by prescription

Answer 63

Actual, open and notorious, hostile and continuous for stat period of 20 yrs

Question 64

Is a joint tenancy devisable?

Answer 64

No