Real Property Flashcards

Question

Negative Easement (LASS)

Answer 1

Light, Air, Support and Stremwater | Created only by writing signed by grantor

Answer 2

Created by writing signed by grantor Burden runs WITHN: Writing, Intent, Touch and concern, Horizontal and vertical Privity, Notice (if restriction in chain of title = notice) Benefit runs WITV: Writing, Intent, Touch and Concern, Vertical Privity **right of first refusal = covenant

Answer 3

Writing signed by grantor (unless implied by general scheme) | Successors bound if WITNes: Writing, Intent, Touch and concern, Notice (no privity)

Answer 4

Estoppel Necessity (expires when need ends) Destruction of servient land Condemnation of estate Release - written release given to servient holder Abandonment - phsyical action w/ intent to never use again Merger - easement and servient land vested in the same person Prescription - adverse possession

Answer 5

Actual - D literally knew Inquiry - lay of the land/inspect Record - public documents/recording statutes

Answer 6

Continuous (20 yrs in IL) - uninterrupted; except tacking as long as privity Hostile - possessor does not have consent Actual - entry must be literal Open and Notorious - owner should be able to realize you are on the land **Possessor state of mind is irrelevant Time will toll if owner has disability AT START of possession Payment of property taxes required to obtain AP under color of title (7 years)

Answer 7

Priority is determined by the time mortgage placed on the property At foreclosure, foreclosing party must include subordinate/junior interests or else pay off junior's interest

Answer 8

If owner consents to one transfer without reserving right to prohibit future transfers without consent, waives right to do so in the future

Answer 9

Borrower has right PRIOR TO foreclosure sale to redeem land by paying off amount due, or if acceleration clause, full balance (some states give right after foreclosure) Clogging Redemption = right to redeem cannot be waived in instrument

Answer 10

(1) must be in writing signed by party to be charged (except part performance by taking possession, paying all or part and/or making subs. improvement) (2) Describe the land (pro rata price reduction) (3) State some consideration Risk of Loss - buyer until closing (*seller in IL)

Answer 11

(1) Provide Marketable title (free from lawsuits, encumbrances, zoning) (2) Seller may not make any false statements of material fact or failing to disclose latent material defects

Answer 12

ONLY applies to sale of new home and in IL that follows to subsequent buyers even though no privity

Answer 13

(1) Lawful execution - writing and good lead to land description (2) Delivery - physically transfers; present intent. Presumed delivered unless express rejection or still in possession at death

Answer 14

No covenants - still promises to provide marketable title

Answer 15

Present Covenants: Seisin (owns estate); Right to Convey (power to transfer); and Against encumbrances (no servitudes or mortgages) Future: Quiet enjoyment (3rd parties try to claim title); Warranty (grantor defends against claims); Further Assurances (do what needed to perfect title)

Answer 16

Grantor makes on behalf of self: (1) hasn't conveyed property to anyone else and (2) free from encumbrances

Answer 17

2 Rules: BFP prevails if w/out notice (in notice jx) BFP prevails if no notice and records before prior (race-notice) *Notice refers to time of conveyance not time of recording *Buyer of real estate has duty to inspect property

Answer 18

One who takes from BFP prevails against others that transferor-BFP would have prevailed against **EVEN IF HAD ACTUAL NOTICE OF PRIOR UNRECORDED CONVEYANCE

Answer 19

One who conveys realty in which he has no interest is estopped from denying validity of conveyance if later acquires property that was previously transferred

Answer 20

(1) Assume mortgage - both mortgagor and buyer personally liable (2) Subject to mortgage - buyer assumes no personal liability

Answer 21

(1) Attorney's fees, foreclosure expenses, interest (2) Priority of mortgages entitled to full satisfaction Subordinate interests are necessary parties to foreclosure sale and if not joined, mortgage remains *Note PMM has superpriority

Answer 22

(1) Redemption in equity - prior to foreclosure sale debtor can redeem (pay missed payments or full amount of acceleration) and cannot be waived (2) Statutory Redemption - right to redeem after foreclosure sale

Answer 23

(1) If improved land caves in by excavators negligence = liable (2) Strict liability if P shows that improvements on his land did not contribute to land's collapse

Answer 24

Water beneath surface entitles surface owner to make reasonable use of water if NOT wasteful

Answer 25

Those from rain, springs or melting snow and have not reach natural watercourse Landowner may change drainage or make other changes to combat flow of surface water

Answer 26

Nonpossessory interest in land; holder is entitled to enter the servient land and take substance entitled to compensation in condemnation proceeding