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Property - Coggle Diagram
Property
rights in real property
easement
positive
negative
termination:
end of a time period, release of interest, common ownership, estoppel, prescription, gov acquires by eminent domain
profits
licenses
privilege to do something on someone's property, revocable at will
restrictive covenants
promise that attaches to the land
vertical privity
horizontal
fixtures
zoning
takings
ownership of real property
Present
make sure to memorize the chart in the Temm book
future estates
Life estates
duty to not adversely affect the future interest (waste)
duty to repair and maintain
duty to pay mortgage
duty to pay all ordinary taxes
duty to pay full cost of special assessment if the life of the public improvement is less than the duration fo the life tenant's estate. equitable apportionment is applied to improvements likely to last longer.
co-tenancy
tenancy in common
Joint tenancy
tenancy by the entirety
landlord-tenant
term of years
periodic
at will
tenancy at sufferance/holdover tenancy
Duty of tenant: rents, not commit waste, repair, other duties as contracted
Duties of landlord: deliver possession of premises, water and heat, duties in lease doc, quiet enjoyment, implied warranty of habitability
rule against perpetuities
identifywhether or not the interest is subject to RAP
Subject to RAP
options to purchase land, powers of appointment, rights of first refusal, interests not fully vested at creation, such as: remainders subject to open, contingent remainders, executory interests
Not subject to RAP
present possessory estates, charitable trusts, resulting trusts, fully vested interests at creation, such as reversionary interests and completely vested remainders
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
fair housing and discrimination
Mortgages/security/devices
titles theory: mortgagee recieves legal title to the mortgaged real property and has the right to take possession
Lien theory: mortgagee receives lien and the mortgagor retains legal and equitable title and possession to the property (majority rule)
intermediate theory: mortgagor retains legal title until default occurs, after default, legal title and possession pass to mortgagee. (limited # of states)
mortgagor can't commit waste
Real estate contracts
Statute of Frauds
writing must require: description of property, descriptions of parties, price, any conditions of price or payment agreed upon
marketable title= free of doubt of defects
defects in chain of title: adverse possession, defective execution of a deed, or significant variation of the description of land, encumbrances: mortgages, liens, easements, leases, covenants, be careful, encroachments, zoning
remedy for non-marketable titles
duty to disclose
Titles
OCEAN
Open and notorious
Contintious possession for hte statutory period
Exclusive
Actual
NOn-permissive (hostile)
general warranty deed
special warranty deed