Please enable JavaScript.

Coggle requires JavaScript to display documents.

Real Property (Real Estate Contracts (Creation and construction of…

- - - - Description of the property
      - Description of the parties
      - Price
      - Any conditions of price or payment agreed upon
  - - - Defects in chain of title
      - Encumbrances
      - Encroachment of your improvements onto another's land
      - Zoning and other land use restrictions (unless zoning violation exists)
- - - - Duty to repair and maintain
      - Duty to pay mortgage interest
      - Duty to pay all ordinary taxes
      - Duty to pay full cost of special assessments if the life of the public improvement is less than the duration of the life tenant's estate
  - - - Each co-tenant owns an undivided interest in the whole with no right of survivorship. Presumed form of co-ownership.
    - - Each co-tenant owns an undivided interest in the whole and has a right of survivorship
    - - At the death of one joint tenant, the interest of the surviving joint tenant absorbs the interest of the deceased joint tenant. Severed only if one joint tenant conveys his interest voluntarily or involuntarily.
    - - Reserved for married couples. Gives each spouse an undivided interest in the whole and a right of survivorship.
  - - - Types of leases
        
        Term of years (definite beginning and end)
        
        Periodic (set beginning and continues from period to period)
        
        At will: no fixed duration
        
        Tenancy at Sufferance/Holdover Tenancy: tenant remains in possession of leased premises after end of lease term
      - Duties of tenant
        
        Pay rent
        
        Not commit waste
        
        Repair
        
        Other duties as contracted
      - Duties of landlord
        
        Deliver legal right to possession of premises
        
        Water and heat
        
        Duties in lease document
        
        Quiet enjoyment
        
        Implied warranty of habitability
  - - - Identify whether or not the interest is subject to RAP
        
        Not subject: present possessory estates, charitable trusts, resulting trusts, fully vested interests at creation (such as reversionary interests and completely vested remainders)
        
        Subject: options to purchase land, powers of appointment, rights of first refusal, interests not fully vested at creation
      - Identify the life or lives in being, express or implied
      - Determine whether the interest will for certain either vest or fail to vest within 21 years of the life or lives in being
- - - - Present (covenant of seisin; covenant of right to convey; covenant against encumbrances)
      - Future (covenant of quiet enjoyment; covenant of warranty; covenant of further assurances)
  - - - Person who records first prevails
    - - An unrecorded conveyance is invalid against a subsequent bona fide purchaser for value and without notice
    - - An unrecorded conveyance is invalid against a subsequent bona fide purchaser for value who takes without notice and records first
    - - Provides protection for a subsequent purchaser who does not satisfy the applicable recording statute; a person who is a successor in interest to person protected by the recording statute is also protected