Real Property Flashcards

Question

Foreclosure

Answer 1

1. Attornee's fees and expenses and any accured interest on the foreclosing bank's mortgage 2. then each claimant entitled to satisfaction in full be fore a junior lienholder may take 3. remainder is deficiency judgment First in time first in right. Necesary parrties - junior lien holders and debtor , failure to include a necessary party results in the preservation of that party's claim despite forclosure and sale. but until creditor records there is no priority equitable redemption exists up to foreclosure sale and then extinguished.

Answer 2

Variance - grants landowner permission to depart from lieteral restrictions of zoning ordinance. Must show undue harship and no diminution to neighboring values Non conforming use - once lawful now deemed nonconforming - cannot be shut down without just compensation - basically a taking. Changes to non conforming use - cannot be extended or intensified in ways that constitute a substantial change. Cumulative zoning - heiracrchy or uses of land : single family, apartment, etc.. where highest use can always be done.

Answer 3

Charters and bylaws that place requirements/restrictionson owners use of property : declaration of covenants, conditions, and restrictions

Answer 4

Right to have land supported in its natural state by adjoining land. * strict liablity if excavation causes adjacent land to substide when it is in natural state * Land with buildings on it: negligence required or show it would have happened if it didn't have buildings on it for strict liability. Mining companies must support buildings and surface existing on the date subajeacent estate was created, later buildings requires showing of negligence.

Answer 5

**Riparian Doctrine:** water belongs to those who own the land bordering the watercourse (attaches to contiguous tracts held by same owner) : **Natural flow theory**- riparian owner's use enjoinable if it results in substantial or material diminution of waters' quantity, quality or velocity **Reasonable Use Theory**: all ripariasn share right of reasonable use of the awater - does not interfere with the use of other riparian owners. Balance utility of the owner's use agaisnt gravity of harm: alteration of flow, purpose of use, pollution, extent of use, destinatio of water taken, miscellanious conduct that might give rise to litigation. Natrual v. Artificial Use - under either theory natural uses prevail over artificial uses (irregation) **Prior appropriation doctrine** - water belongs to the state, but the right to divert it an duse it can be acquired by an individual through their actual use. Determined by priority of veneficial use. First in time, first in right, for any productive or benficial use is sufficient. but can be lost by abandonment

Answer 6

Absolute Ownership Docrtrine: owner of overlying land an can take it all even for export Reasonable Use Doctrine : absolute ownership but exporting allowed only if it doesn't harm other owners who have rights in the same aquifer Correlative Rights Doctrine - own as joint tenants and each allowed reasonable amount for own use Appropriative Rights Doctrine - priority of use now ownership of overlying land is determinative. (western states) Retatement approach - surface owner may pump groundwater unless it (1) unreasonably harms neighboring landowners, exeeds pumpers reasonable share, directly and substantially affects surface waters and unreasonably harms surface water users

Answer 7

Natural Flow - owners cannot alter natural drainage patters Common enemy theory: many states owner can take any protective measures to get rid of the water or combat its flow (modified to prohibit unnessessary damge to others lands) Reasonable use - balancing utility of the use against gravity of the harm

Answer 8

**Fee simple absolute **(absolute ownership of indefinate or potentially infinite duration feely transferable devisable by will and descendible through intestacy) **Defeasible fee**Fee simple that can be terminated upon happening or stated event: 1. *Fee Simple Determinable and Possibility of Reverter *(for so long as, until, while, during) (transferrable, devisable and descendible but always subject to the condition) Reverter is automatic. Reverter goes back to Grantor. 2. *Fee Simple Subject to Condition Subsequent* - *reserves the right* to terminate the estate upon happening of a stated event (NOT AUTOMATIC) (upon condition that , provided that, but if, if it happens that) (reservation of right is not transferable) 3. *Fee Simple Subject to Executory Interest*: either of the above but then passes to a third party. Automatically forfeitted. **Life Estate** measured by the life or lives of one or more persons.

Answer 9

Entitled to all ordinary uses and profits from the land must not commit waste (voluntary, permissive or ameliorative) - can exploit where necessary for repair or maintenance of land, land suitable only for that use, expressly or impliedly allowed by grantor. Open mines doctrine- cannot expand. Duties: * must preserve the land and structures in a reasonable state of repair * pay ordinary taxes (limited to extent of total income or profits generated from the land or fair renatl value) Pay interest only on mortgages and, special assessments for public improvements of short duration. * Amerliorative waste - cannot engage unless all future interest holders are known and consent. : but today life tenant may - alter/demolish buildings if : market value of the future intersts is not diminished and either the remaindermen do not object or a substantial and permanent change in neighbordhood consitiond deprived property in its current form of reasonable productivity or usefulness.

Answer 10

By Grantor: * possibility of reverter * a right of entry * reversion By someone else: * *contingent remainder*: unborn or unascertained persons (to A for life then to B's first child) or subject to condition precident (conditions appears before language creatign remainder (if B graduates from college) * *vested remainder* existing and ascertained person and not subject to condition precedent 1. indefeasibly vested remainder - certain to aquire with no string (To A for life remainder to B) 2. vested remainder subject to complete defeasance - has condition subsequent (To A for life, then to B and his heirs, but if B dies unmarried then to C) 3. vested remainder subject to open - created in class of persons but can be subject to diminution - birth of additional kiddos (to A for life then to B's Children). Class clsoes with Rule ofconvenience - when some member of the class can call for distribution (womb rule applies) * *executory interest* - future interest in third parties that either divest a preceeding freehold state or follow a gap in possesion or cut short gransor's estate 1. shifting executory interst - follows a defeasible fee and cuts short someone other than the grantor - To A but if B returns from Canada to B and his heirs 2. springing executory interest - cuts short interest of Grantor - To A if and when she becomes a lawyer, A is in high school, or follows a gap.

Answer 11

Future interests are void if there is any possibility that the interest might vest more than 21 years after a person alive at the time of the grant has died. Applies only to contingent remainders, executory interests, vested remainders subject to open, options to purchase and rights of first revusal. NEVER grantor's interests. Begins to run : will - testator's death , deeds - ddate of delivery, irrevocable trust - date of creation, revocable trust - when it becomes irrevocable. Must Vest - 1. posessory, or 2. indefeasibly vested remainder or a vested remainder subject to total divestment

Real Property Flashcards

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