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PROPERTY (Possessory Interests (Concurrent Estates (Tenancy in Common,…
PROPERTY
Possessory Interests
Fee Simple Absolute
Fee Tail
Fee Simple Determinable
Possibility of Reverter
Fee Simple SCS
Right of Entry OR Power of Termination
Fee Simple Ex
Shifting/Springing
Life Estate
#
Reversion OR Remainder
Rule Against Perpetuities
(1) Is interest subject to RAP? (2) Who are lives in being? Express/Implied (3) Will interest vest or not within 21 years of life in being?
Concurrent Estates
Tenancy in Common
Joint Tenancy
Right of Survivorship
Tenancy by Entirety
Rights
Easement (affirmative/negative; appurtenant/in gross)
License (privilege)
Covenant (runs w/land)
Equitable Servitude
Zoning
Taking
Mortgages
Title
(Ee has title and right to take possession unless/til loan paid)
Intermediate
(Or retains title until default)
Lien
(Ee receives, Or retains title unless foreclosure)
Multiple Mortgages:
priority determined by order of recording
Real Estate Contracts
Landlord-Tenant
Term of Years
Periodic
At Will
Holdover
Marketable Title
Defects
Encumbrances
encroachment
Land use restrictions
Title
Adverse Possession
(1) Open & Notorious; (2) Continuous; (3) Exclusive (4) Actual (5) Non-permissive
Deeds
General Warranty
(no defects)
Special Warranty
(no defects currently but possibly before)
Quitclaim
(no warranty)
Covenants
Present
: (1) Seisin; (2) Right to Convey; (3) Against Encumbrances
Future
: (1) Quiet Enjoyment (2) Warranty (3) Further Assurances
Recording
Race
(first come first served)
Notice
(BFP)
Race-Notice
(BFP & Notice)