Real Property Flashcards
(133 cards)
Joint Tenancy
Two or more people owning a single, unified interest in a property with a right of survivorship which gives the deceased partner’s share automatically to the surviving partner. The joint tenancy is alienable but not devisable or descendible.
Joint Tenancy Creation
Joint tenants must take their interest 1) at the same time, 2) by the same title, 3) with identical interests and 4) equal right to possess the whole. The right of survivorship must be clearly expressed. A strawman may be needed to create the relationship.
Joint Tenancy Severance
May be through partition, sale or mortage.
Partition
A joint tenancy is severed when the interests are divided either by voluntary agreement or by court ordered sale or by court-ordered division of property.
Tenancy by the entirety
A marital interest in property with right of survivorship. Creditors of one spouse cannot reach property owned this way and neither spouse can defeat the right of survivorship alone through transfer.
Tenancy by the entirety is presumed in any conveyance between married partners unless explicitly stated otherwise.
Tenancy in Common
Two or more people own property with no right of survivorship. Each interest is descendible, devisable and alienable. Each co-tenant owns a part of the property with the right to possess the whole.
Universal Tenant Rights and Duties
Applies to all landlord-tenant relationships:
- Possession: May not exclude other co-tenants from any part of the property (called wrongful ouster).
- Adverse possession: Co tenants cannot acquire title unless there is ouster shown with hostility.
- Rent from Co-tenant in exclusive possession: Absent ouster, a co-tenant in exclusive possession is not liable to others for rent.
Rent from third parties - must provide co-tenants fair share
Carrying Costs: Each tenant is responsible for carrying costs based on undivided share of the property (taxes, mortgage and interest payments).
Repairs: May seek contribution for repairs that are reasonable or necessary if co-tenants were given notice
Improvments - no right to contribution for improvements (at partition co-tenant may seek credit for any increase in value due to improvements or is liable for any diminution in value that the improvements caused.
Waste: Co-tenant must not commit waste
Parition: May bring an action for partition by voluntary agreement or court action.
Universal Tenant’s Rights and Duties - Rent
Absent ouster, a co-tenant in exclusive possession is not liable to the others for rent.
Universal Tenant’s Rights and Duties - Carrying Costs
Applies to all landlord-tenant relationships:
Carrying Costs: Each tenant is responsible for carrying costs based on undivided share of the property (taxes, mortgage and interest payments).
Universal Tenant’s Rights and Duties - Repairs
Applies to all landlord-tenant relationships:
Repairs: May seek contribution for repairs that are reasonable or necessary if co-tenants were given notice.
Universal Tenant’s Rights and Duties - Improvements
Applies to all landlord-tenant relationships:
Improvements - no right to contribution for improvements (at partition co-tenant may seek credit for any increase in value due to improvements or is liable for any diminution in value that the improvements caused.
Universal Tenant Rights and Duties
Applies to all landlord-tenant relationships:
- Possession: May not exclude other co-tenants from any part of the property (called wrongful ouster).
- Adverse possession: Co tenants cannot acquire title unless there is ouster shown with hostility.
- Rent from Co-tenant in exclusive possession: Absent ouster, a co-tenant in exclusive possession is not liable to others for rent.
Rent from third parties - must provide co-tenants a fair share
Carrying Costs: Each tenant is responsible for carrying costs based on an undivided share of the property (taxes, mortgage and interest payments).
Repairs: May seek contribution for repairs that are reasonable or necessary if co-tenants were given notice
Improvements - no right to contribution for improvements (at partition co-tenant may seek credit for any increase in value due to improvements or is liable for any diminution in value that the improvements caused.
Waste: Co-tenant must not commit waste
Parition: May bring an action for partition by voluntary agreement or court action.
Tenancy for Years
The lease is for a fixed number of years and has a definite end date.
Periodic Tenancy
A lease that continues for successive intervals until one party gives notice of its termination
Periodic Tenancy Creation
Implied: 1) No provision is mentioned but rent is paid in set intervals, 2) a tenancy for years fails due to the statute of limitations, 3) a tenancy for years ends and an implied periodic tenancy (holdover tenancy) is created unless the landlord gives notice of a change of terms or an increase of rent before the tenancy for years ends. Commercial leases create a year-to-year tenancy with the lease’s terms unless notice is given before the lease ends.
Express: Expressly calling it month to month or otherwise explicitly agreeing to terms.
Termination: Written notice is required with at least as much notice as one period in the term unless otherwise agreed. If the lease is year-to-year then notice must be given six months before the end of the lease.
Tenancy at Will
A tenancy with no fixed duration that lasts as long as both parties desire. Either party can end at any time but a reasonable demand to vacate is required.
Tenancy at Sufferance
When the tenant stays past the expiration of the lease while the landlord accepts rent. This ends went he landlord evicts or elects to hold the tenant to a new lease.
Tenant Duties
1) Pay rent, 2) liable to third parties, 3) duty to repair
Tenant Duties - Pay Rent
Duty to pay rent.
1) Tenant in Possession of Premises:
- LL can evict and hold tenants liable for past rent, or allow tenant to stay and sue for past rent. LL may not use self-help such as changing locks or removing belongings.
2) Tenant NOT in possession:
- LL can treat tenants abandonment as a surrender through words or acts indicating the tenant’s intent and accept (unless the lease is greater than one year - then must be in writing), hold the tenant liable for unpaid rent, or re-let the premises and hold tenants liable for the deficiency.
Doctrine of Equitable Conversion
Once a contract is signed and each party is entitled to specific performance, equity regards the purchaser as the owner of the real property. The seller’s interest, which consists of the right to the proceeds of the sale, is considered to be personal property. This doctrine also affects the passage of title when a party to a contract dies before the contract has been completed. In general, it holds that a deceased seller’s interest passes as personal property and a deceased buyer’s interest as real property. If the seller dies, the bare legal title passes to the takers of his real property, but they must give up the title to the buyer when the contract closes. When the purchase price is paid, the money passes as personal property to those who take the seller’s personal property. If the buyer dies, the taker of his real property can demand a conveyance of the land at the closing of the contract. The majority rule is that takers of the real property will take it subject to the vendor’s lien for the purchase price. As a practical matter, the takers of the real property will have to pay the price unless the testator specifically provided to the contrary.
Area Variance granting requirements
The owner suffers a hardship due to the way the land is currently zoned, and the variance will protect the public interest.
Easement by necessity
Is created when the owner of a tract of land sells a part of the tract and by this division deprives one lot of access to a public road or utility line. When this happens, a right-of-way for absolute necessity is created by implied grant over the lot with access to the public road or utility line.
Accession
Term used to describe the intent of the annexor to make the chattels a permanent part of the real estate.
Fixture rules
Chattel that has been so affixed to land that it has ceased being personal property and has become part of the realty.
Common ownership refers to when a person owns both the land and the fixtures affixed to it. Divided ownership occurs when a landlord owns the property, but someone else affixes the chattel to the land. In both types of ownership cases, where the items become incorporated into the realty so fully that they lose their identity, they become part of the realty. Similarly, where identification of the chattel is still possible, but removal would cause considerable loss or destruction, the items are considered fixtures (like heating pipes in a house). For divided ownership cases, the question is whether the ownership of the chattel has passed to the landowner.