Term
| When does a grantor have "possibility of reverter" as a future interest? |
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Definition
| FSDPOR (frank sinatra didn't prefer orville redenbacher): Possibility of reverter follows fee simple determinable. |
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Term
| What are the four exceptions to the general rule that a life tenant must not consume or exploit natural resources on the property? |
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Definition
| PURGE! Prior Use: prior to the grant, the land was used for exploitation; Reasonable Repairs; Grant; Exploitation: land is only suitable for exploitation |
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Term
| How is a JOINT TENANCY created? |
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Definition
| T-TIP! Joint tenants must take their interests at the same TIME, in the same TITLE, in IDENTICAL shares, and with the right to POSSESS the whole |
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Term
| How is a joint tenancy severed? |
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Definition
| SPAM! Sale, Partition and Mortgage (only in states following "title" theory of mortgages). |
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Term
| What are the elements of constructive eviction? |
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Definition
| SING!! SUBSTANTIAL interference, NOTICE, GOODBYE |
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Term
| What are a tenants entitlements when the implied warranty of habitatiblity is breached? |
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Definition
| MR^3: MOVE out (end lease); REPAIR and deduct from rent; REDUCE rent, or REMAIN in possession |
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Term
| What are the FIVE most important exceptions to the general principle of caveat lessee, where the landlord is under no duty to make the premises safe? |
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Definition
| CLAPS! Common areas: L must maintain all common areas; LATENT defects: L must warrant T of hidden defects that L knows or should warn about. This is NOT a duty to repair. ASSUMPTION of repairs: a landlord who voluntarily makes repairs must complete them with reasonable care; PUBLIC use rule; and SHORT term lease of furnished dwelling. |
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Term
| What are the four ways to create an affirmative easement? |
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Definition
| PING! Prescription, Implication, Necessity, Grant. |
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Term
| What are the four recognized negative easements? |
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Definition
| LASS! Light, Air, Support, Streamwater |
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Term
| What is required for the burden created by a real covenant to run with the land? |
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Definition
WITHN: WRITING, INTENT, TOUCH AND CONCERN, HORIZONTAL AND VERTICAL PRIVITY, NOTICE.
NOTE: Notice is ONLY required if a recording statute applies. However, notice is never required if the burdened property owner is a donee, devisee, or heir. |
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Term
| What is required for the benefit of a real covenant to run with the land? |
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Definition
| WITV: writing, intent, touch and concern, vertical privity |
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Term
| How is an equitable servitude created? |
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Definition
| WITNes: writing (usually), intent, touch and concern, notice |
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Term
| How is an easement terminated? |
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Definition
| END CRAMP! Estoppel, Necessity, Destruction of servient land, condemnation, release, abandonment (need some PHYSICAL action), merger, prescription |
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Term
| What are the three forms of notice potentially imputed to defendant? |
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Definition
| AIR! Actual, Inquiry, Record. |
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Term
| What are the elements required for adverse possession? |
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Definition
| COAH: continuous, open, actual, hostile. |
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Term
| How does the deed pass legal title from seller-grantor to buyer-grantee? |
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Definition
| It must be LEAD! Lawfully Executed And Delivered |
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Term
| What are the seven "real" defenses that can be raised against mortagee-creditors and even holders in due course? |
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Definition
| MAD FIFI^4! Material alteration, Duress, Fraud in the fictum, Incapacity, Illegality, Infancy, Insolvency. |
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