Real Property

Question 1

Fee simple Absolute

Answer 1

Absolute ownership, potentially infinite duration.

Question 2

Fee simple defeasible

Answer 2

Fee simple estate that can be terminated upon the occurrence of a stated condition.

Question 3

Fee Simple Determinable

Answer 3

Automatically terminates upon the occurrence of a stated event (accompanied by a possibility of reverter).

Question 4

Fee Simple Subject to Condition Subsequent

Answer 4

Grantor has the right to terminate upon occurrence of the event (accompanied by a right of reentry).

Question 5

Fee Simple Subject to Executory Limitation

Answer 5

Terminates upon the occurrence of the event and passes to a third party.

Question 6

Life Estate

Answer 6

Ownership interest lasting for the life of a specified person

Question 7

Life Estate Pur Autre Vie

Answer 7

Duration is measured by the life of someone other than the life tenant.

Question 8

Reversion

Answer 8

Future interest

Interest left in the grantor who transfers less than his entire interest.

Question 9

Possibility of Reverter

Answer 9

future interest

Future interest following a fee simple determinable

Question 10

Right of Reentry

Answer 10

future interest

Future interest following a fee simple subject to condition subsequent.

Question 11

Remainder (generally)

Answer 11

Future interest following a life estate or term of years, which can be vested or contingent.

Question 12

Vested Remainder

Answer 12

Remainder to an ascertainable person and not subject to a condition precedent.

Question 13

Contingent Remainder

Answer 13

Remainder to an unascertainable person or subject to a condition precedent.

Question 14

Executory Interest

Answer 14

Future interest in a third party that cuts short a prior estate.

Question 15

Tenancy for Years

Answer 15

Lease for a fixed period.

Question 16

Periodic Tenancy

Answer 16

Lease for a repeating period until notice of termination.

Question 17

Tenancy at Will

Answer 17

Lease for no fixed period, terminable at will.

Question 18

Tenancy at Sufferance

Answer 18

Tenant remains after lease expiration

Question 19

Tenant’s Duties

Answer 19

Duty to Pay Rent: Obligation to pay rent as agreed.

Duty to Avoid Waste: Tenant must not commit voluntary, permissive, or ameliorative waste.

Duty to Repair: Tenant typically responsible for minor repairs and routine maintenance.

Question 20

Landlords duties

Answer 20

Duty to Deliver Possession: Must deliver actual possession at the beginning of the lease term.

Implied Warranty of Habitability: Premises must be fit for human habitation.

Covenant of Quiet Enjoyment: Tenant has the right to quiet use and enjoyment of the premises without interference from the landlord.

Question 21

Assignment

Answer 21

Transfer of the entire leasehold interest.

Question 22

Sublease

Answer 22

Transfer of less than the entire leasehold interest.

Question 23

Privity of Estate and Contract

Answer 23

Determines the relationship and liability between landlord, tenant, assignee, and sublessee

Question 24

Easement Appurtenant

Answer 24

Benefits a dominant tenement and runs with the land.

Question 25

Easement in Gross

Answer 25

Benefits an individual or entity, not a parcel of land.

Question 26

Creation of Easements

Answer 26

By express grant, implication, necessity, or prescription.

Question 27

Termination of Easements

Answer 27

By release, merger, abandonment, prescription, or frustration of purpose

Question 28

Real Covenants

Answer 28

Written promises to do or not do something on the land.

Question 29

what is required for a real covenant

Answer 29

Writing, intent, touch and concern, notice, privity

Question 30

Equitable Servitudes

Answer 30

Similar to real covenants but enforced in equity with injunctions

Question 31

requirements for equitable servitudes

Answer 31

writing intent touch and concern notice

Question 32

profit

Answer 32

right to enter land and take resources

Question 33

license

Answer 33

permission to enter land without an interest in the land

Question 34

joint tenancy

Answer 34

Co-owners with right of survivorship; requires four unities (time, title, interest, possession) and clear expression of intent.

Question 35

tenancy by the entirety

Answer 35

Joint tenancy between married couples with right of survivorship; requires marriage.

Question 36

Tenancy in Common

Answer 36

co owners with separate but undivided interests and no right of survivorship

Question 37

Possession (co-tenants)

Answer 37

each co-tenant has the right to possess the whole property

Question 38

rents and profits (co-tenants)

Answer 38

Co-tenants must account for rents and profits from third parties

Question 39

carrying costs (co-tenants)

Answer 39

each co-tenant is responsible for their share of property taxes, mortgage payments, etc

Question 40

repairs and improvements (co-tenants)

Answer 40

co-tenants have rights and obligations regarding necessary repairs and beneficial improvements

Question 41

statute of frauds (real estate transactions) (contracts for sale)

Answer 41

requires writing signed by the party to be charged containing essential terms

Question 42

marketable title (real estate transactions) (contracts for sale)

Answer 42

seller must provide good or clear title at closing

Question 43

equitable conversion (real estate transactions) (contracts for sale)

Answer 43

risk of loss shifts to buyer upon signing the contract so long as there is not a contrary agreement

Question 44

general warranty deed

Answer 44

warrants against all defects in title

Question 45

special warranty deed

Answer 45

warrants only against defects arising during the grantors ownership

Question 46

quitclaim deed

Answer 46

no warranties transfers whatever interest grantor has

Question 47

delivery

Answer 47

grantors intent to make the deed presently effective

Question 48

acceptance

Answer 48

generally presumed if beneficial to the granteer

Question 49

race statute (recording statutes)

Answer 49

first to record wins

Question 50

Notice statute (recording statutes)

Answer 50

subsequent bona fide purchaser without notice prevails

Question 51

race- notice statute (recording statutes)

Answer 51

subsequent bona fide purchaser without notice who records first prevails

Question 52

creation of a mortgage

Answer 52

must be in writing in order to satisfy the statute of frauds

Question 53

rights for the parties in mortgages

Answer 53

mortgagor (borrower) retains title and possession mortgagee (lender) has a lien

Question 54

judicial foreclosure

Answer 54

court supervised sale of the mortgaged property

Question 55

non-judicial foreclosure

Answer 55

foreclosure without court involvement

Question 56

Priority (foreclosure)

Answer 56

determined by recording (first in time, first in right) unless otherwise provided by statute or agreement

Question 57

equitable redemption

Answer 57

borrower right to redeem before the foreclosure sale

Question 58

statutory redemption

Answer 58

the borrowers right to redeem after the foreclosure sale if its allowed by statute

Question 59

authority (zoning)

Answer 59

local governments derive power to zone from state enabling acts

Question 60

types of zoning

Answer 60

residential commercial industrial agricultural

Question 61

nonconforming use

Answer 61

use that existed before the zoning change and is allowed to continue

Question 62

variance

Answer 62

permission to deviate from zoning requirements

Question 63

use variance

Answer 63

permission to use land in a manner not permitted by zoning ordinance

Question 64

area variance

Answer 64

permission to deviate from physical or dimensional zoning requirements

Question 65

conditional use permit (special exception) (zoning)

Answer 65

allowed under zoning ordinance but subject to conditions designed to minimize impact on surrounding areas

Question 66

takings clause

Answer 66

prohibits government from taking private property for public use without just compensation

Question 67

due process

Answer 67

zoning ordinances must be rationally related to legitimate government interest

Question 68

equal protection

Answer 68

zoning laws must not discriminate against individuals or groups