Property Midterm

Possessory Estates

100

To __ for Life

What is a life estate?

200

To A unless X happens, then to B

What is a Fee Simple subject to Executory Limitation? 

300

To A so long as, A does x. 

Fee simple determinable 

400

O gives A a life Estate, but only if A smokes weed everyday. If not, then B receives the property. 

O: Nothing 

A: Life Estate in Fee Simple Subject to Executory limitation? 

B: Shifting EI in fee simple 

500

To A for life, then to B and her heirs, but if B ever uses the property for commercial purposes, then to C and his heirs

A: Life Estate

B: Vested Remainder in Fee Simple Subject to Executory Limitation

C: Shifting Executory Interest

O: Nothing

Leases & Tenancy

100

A lease that ends at a fixed time

What is a term of years?

200

• Inactive landlord prefers
• Prime lessee will serve as the lessor to sublessee, collecting rent, etc.

What is a sublease? 

300

• Active Landlord prefers
• Tenant in possession owes a duty to pay rent and perform other obligations that run with the land directly to you under privity of estate.
• If the new lessee defaults, the prime lessee is still on the hook to you under privity of contract.
• Prime lessee acts as a surety of  performance of the assignee.

What is an Assignment? 

400

• Prime tenant is still bound by privity of contract, but now the two parties are bound by the same privity of contract to the landlord. 

What is an assumption? 

500

Aspects of the lease that define the original leasehold interest

What touches and concerns the land? What enhances and confers value to the land? 

Easements

100

An easement that belongs to a particular grantee, as opposed to a particular tract of land. 

What is an Easement in Gross?

200

Permit the easement holder to perform some affirmative act on the land of another servient tract. 

Affirmative Easements

300

The tract benefited or enhanced by the Easement

What is a dominant tract? 

400

Use of the property which is originally permitted by the true owner. User relies on this permission. It would be inequitable to revoke this permission. 

What is prescription by estoppel?

500

Use adverse to owner's rights. Open and notorious, continuous.

Easement by Prescription

Titles

100

Acquiring goods with a check that bounces or by means of fraud

What is a voidable title?

200

Property acquired by theft

What is a void title?

300

You can only give what you have

What is nemo dat?

400

The delivery of the gift is required, and the donor must die before the gift is given. 

What is Causa Mortis?

500

Is based on the actual belief of the party and not the reasonableness of the belief. 

What is good faith?

Deeds & Everything Else

100

Ownership to the Heavens and Earth

What is Ad Coelum doctrine?

200

No Covenants regarding a title

What is a quitclaim deed?

300

Seller promises there are no title defects stemming from their actions, but doesn't generally promise against defects to title

What is a special warranty deed?

400

Time, Title, Interest, Possession

What are the 4 unities?

500

Is available to tenants in common and joint tenants. Tenants by entirety must either convert the property into a tenancy in common or joint tenancy by mutual agreement, or sever the unity of marriage (by divorce) in order to obtain. 

What is partition?