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Property - Coggle Diagram
Property
Rights in Real Property
easements
affirmative vs negative
appurtenant vs in gross
created by:
writing
implication
prior use
necessity
prescription: must be:
open and notorious use
continuous
exclusive
actual
hostile
estoppel
transferable
terminate by:
end of specified time
dominant estate releases interest
dominant and servient combine
abandonment
estoppel
by prescription
gov acquires servient via eminent domain
profits
licenses: a privilege to do something on someone else's property
restrictive covenants
promise attached to land
fixtures
zoning
takings
Ownership of real property
Present Possessory Interests
Fee Simple Absolute
Fee Tail
Fee Simple Determinable
Fee Simple Subject to Condition Subsequent
Fee Simple Subject to Executory Interest
Life Estate (Special duties)
Waste AKA don't adversely harm future interests
repair and maintain
pay mortgage interest
pay all ordinary taxes
pay full cost of special assessment improvements, or fair share of improvement lasting longer than life
Rule against perpetuities
Doesn't apply to present possessory estates, charitable trusts, resulting trusts, interests fully vested at creation
Applies to: options to purchase land, powers of appointment, right of 1st refusal, interests not fully vested at creation
Concurrent Estates
Tenancy in common
joint tenancy
right of survivorship
tenancy by the entirety
Landlord-tenant relationship
term of years
periodic
at will
tenancy at sufferance/holdover tenancy
assignment vs sublease
Titles
adverse possession AKA OCEAN
Exclusive
Actual
Continuous
Non-permissive aka hostile
Open and notorious
transfer by deed
General Warranty
Special warranty
Quitclaim
Present Covenants
Seisin
right to convey
covenant against encumbrances
mortgage/judgment liens
taxes
leases
water rights
easements
restrictions on use
Future Covenants
quiet enjoyment
warranty
further assurances
needs donative intent, delivery (words can count), and acceptance
transfer by operation of law and by will
recording acts
types of recording statutes
notice
race-notice
race
shelter rule
Real Estate Contracts
Statute of Frauds
desc of prop
desc of parties
price
any conditions of price/payment
implied marketable title
not marketable if:
defects in chain of title
encumbrances
encroachment
zoning violations
duty to disclose/warranty of quality
Mortgages/Security Devices
Mortgages
mortgages, 3 theories
lien theory
intermediate theory
title theory
Mortgagor = debtor, mortgagee = bank
mortgagor can't commit waste
assuming a mortgage vs taking prop "subject to" one
mult mortgages