First Half
Name three rights in the bundle of sticks
What are the right to possess, right to exclude, right to sell
What is tenancy at sufferance?
What is when a tenant stays past their lease
What is the default type of concurrent tenancy?
What is tenancy in common
What is a marketable title?
A title free from defects and encumbrances that someone would reasonably expect the title to be free of.
What is a life estate?
What is an estate held only for the duration of a specified persons life and ends automatically at death
What is an easement by estoppel?
What is the granting of the easement caused the grantee to change their position in reliance on the easement
What is just compensation?
What is fair market value measured by the present market value of the owner's property rather than the value the government is getting
What is the implied warrant of habitability?
What is a non-waivable warranty that requires the landlord to maintain the property in a condition that is safe and livable
What is a special warranty deed?
What is a covenant against any defect in title caused by the grantor
Who does the land go to when the condition is met for a fee simple determinable?
What is the property automatically reverts to the grantor under the possibility of reverter
Whats the difference between mislaid and abandoned property?
What is (1) mislaid property is when the owner places it intentionally but forgets where it was and (2) abandoned property is when the owner deliberately gives up all rights
What is a Notice Statute recording act, and an example?
What is B prevails over A only if B didn't have notice
O -->A (no record) O --> B (No notice) = B prevails
What are the elements of Eminent Domain?
What is (1) that it is private property (2) that it must be put toward public use and (3) just compensation
What do sellers have a duty to disclose?
What is (1) known facts (2) that are material to the sale, and (3) not within reach of the diligent buyer
What interests include time-based language (during, while, so long as)?
What is a fee simple determinable and (potentially) a fee simple subject to executory limitation
What kind of liability applies to lateral support of your neighbors land?
What is strict liability
Define the three types of notice?
What is actual (you literally knew), constructive (you should've known because it was in the books), and inquiry notice (you should've known by looking into the red flags)
What is the major difference between a term of years and a periodic tenancy?
What is a term of years ends automatically at agreed upon time
What is periodic tenancy automatically renews at designated intervals, but can end early with notice
Who assumes the risk during the executory period, and what doctrine relates to this?
What is the buyer in theory, or the seller with insurance in practice. The doctrine of equitable conversion says the risk is on the buyer because they are the equitable owner at this phase
How do you apply rules against perpetuities (RAP)?
What is (1) identify the future interest and determine whether it is subject to RAP, (2) identify what needs to happen for the interest to fully vest, (3) identify all the lives in being, (4) inquire if there is any conceivable way that the interest could not vest within 21 years of the death of the last life in being
What are two defenses to nuisance?
What is (1) unusual sensitivity (beyond what a normal person would experience) and (2) coming to the nuisance (in plain sight, plaintiff put themseleves in the situation)
What is a wild deed and its consequence?
A deed recorded outside the chain of title and it does not give constructive notice to subsequent purchasers
What factors are considered for a zoning variance?
What is (1) undue hardship, (2) unique circumstances, (3) whether the owner created the hardship at issue, (4) intent of ordinance, (5) character of neighborhood
What are the 5 stages of real estate transactions?
What is (1) pre-contracting, (2) purchase and sale agreement, (3) executory period, (4) closing, (5) post-closing
O to A, but if A ever has a party at the house, then to B. What are the interests?
A has a present estate, which is fee simple subject to an executory interest; B has a future executory interest