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Property - Coggle Diagram

- - - - Life Estate: Duty to Maintain Property
        
        Duty to repair and maintain
        
        Duty to pay mortgage INTEREST
        
        Duty to pay special assessment (ex. HOA's fee bullshit) IF the life of the upgrade/repair is less than the duration of the life tenant's estate
        
        Court will apply equitable apportionment if improvements will last longer than the life tenant's estate.
  - - - Each Co Tenant owns an Undivided Interest in the Property. They both own ALL OF IT. (think COMMONLY owned)
        
        Because it's commonly owned, no right of survivorship (Co-tenant absorbs the dead guy's share of the property) = no chance that happens
        
        Interest in the property passes to the HEIRS
    - - Each co-tenant owns an undivided interest in the whole and has a right of survivorship
        
        1) they must TAKE at the same time
        
        2) they must take by the SAME INSTRUMENT
        
        Must take equal SHARES of the same type
        
        Each tenant has the right to possess the whole.
    - - At the death of one JOINT TENANT, the other joint tenant ABSORBS the interest of the dead guy
        
        The last surviving joint tenant can devise the property.
      - Can SEVER if one joint tenant conveys his interest (or loses it to vulture creditors). Tenancy in common then results.
    - - Married couples: Presumed in some states if conveyed to married couples.
      - undivided interest in the whole for each.
      - RIGHT OF SURVIVORSHIP: dead tenant gives his interest to other tenant.
  - - - Term of Years: definite beginning and end. No notice required to terminate.
      - Periodic: set beginning and continues from period to period, such as month to month, without a set termination date until NOTICE is given. Notice must be given at the end of the first period, and must be at LEAST one full period (one full month), but NO LONGER than 6 months.
      - At will: no fixed duration. Terminates if either party dies. The tenant commits waste, attempts to assign his interest, landlord transfers interest, or if the landlord transfers the premises to a third party for a term of years. Most states provide for 30 days notice.
      - Holdover Tenant: tenant stays beyond lease duration. Landlord, at any time, can recover possession of the property and collect the reasonable value of the holdover period.
    - - TENANT
        
        pay rent
        
        not commit waste
        
        repair
      - LANDLORD
        
        Deliver legal right to property
        
        water and heat
        
        duties in lease document
        
        quiet enjoyment
        
        implied warrant of habitability
  - - - 1) Identify whether or not the interest is subject to RAP:
        
        Options to purchase land, powers of appointment, Rights of first refusal, interests not fully vested at creation (remainders subject to open, contingent remainders, executory interests)
        
        Not subject to RAP:
        
        present possessory interests charitable trusts, resulting trusts, fully vested interests at creation, such as: remainders subject to open, contingent remainders, executory interests
        
        2) Identify the LIFE or LIVES IN BEING, express or implied
        
        3) Determine whether the interest will for certain either vest or fail to vest within 21 years of the life or lives in being.
- - - - Affirmative/Negative
        
        Affirmative
        
        Holder of the easement has the right to do something on the property
        
        Can be created by implication (prior use or by necessity)
        
        Can be created by PRESCRITION (same requirements as Adverse POssession) Open and Notorious, Continuous, Exclusive, Actual, Non-permissive
        
        Negative
        
        Holder can prevent the landowner from doing something on the land
      - Appurtenant/In Gross
        
        Appurtenant: Requires a DOMINANT and SUBSERVIENT estates
        
        In gross: Only requires a servient estate
  - - - Writing, Intent, Horizontal and Vertical Privity, Touch and Concern, Notice
- - - - Defects in chain of title, such as adverse possession, defective execution of a deed, or significant variation of the description of the land
      - Encumberances such as mortgages, liens, easements, leases and covenants.