property

Largest estate recognized by law. 

Can be sold, divided, devised or inherited and has a potentially infinite duration 

Fee simple is presumed in the absnece of contrary language  

• Fee Simple Determinable (and possibility of reverter)
•        Automatically reverts back to grantor upon happening of stated event.

• Fee Simple Subject to Condition Subsequent (right of re-entry)
•        Gives grantor right to terminate the estate upon the happening of a stated event. (Right of reentry)

• Fee Simple Subject to an Executory Inerest  
•          Gives third party executory interest upon the hapening of a stated condition. 

No interest in property is valid unless it must vest, if at all, within 21 years after some life in being at the creation of the interst. 

Any possibility that the interest might vest more than 21 years after a life in being, the interst is void.  

• Contingent remainders 
• executory interests
• vested remainders subject to open
• options to purchase (not attached to a leasehold)
• rights of first refusal
• powers of appointment  

date of the testators death

date of delievery

date trust is created

date trust becomes revocable

Affirmative (vountary waste)

Permissive Waster

Ameliorative Waste 

when necessary for repair or maitenance

the land is suitable only for such use

when expressly permited  

preserve land and structures in a reasoanble state of repair

pay interst on mortages

pay ordinary taxes on the land  

the market value of the future interest is not diminished and either:

the remaindermen do not object or

a change in the permanet change in the neighborhood conditions has depreived the property in its corrent form of reasonable productivity  

• future interest in third parties that etierh divest a transferee's freehold estate, follow a gap in possession or cut short a grantor's estate. 
•  

springing executory intersts: cuts short grantors estate

shrifting: divests a transferee's preceding estate 

disabling restraints 

forfieture restrains

promissory restraints

 

Joint Tenancy 

Tenancy by the Entirety

Tenancy in Common  

Rule of convience: 

Absent contrary intent, a class closes when some member of the class can call for distrubution  

• Vested Remainder Subject to Open 
• Contingent Remainder
• Shifting Executory Interest
• Springing Exeutory Interest  

Indefeasibly vested remainder 

Vester remainder subject to total divestment  

Transferable, descendible, and devisable

• Indefeasibly Vested Remainder
• Vested Remainder Subject to Total Divestement  

Transferable, descendible and devisable. 

Distinguishing characteristic: right of surivorship, if joint tenant dies, the property is freed from her concurrent interst 

CL requires four unities to create a joint tenancy: Time, Title, Interst, Possession. Two tenants must have equal interests in all these regards. 

Intervivos conveyance: transferee takes a tenant in comon

Contract to convey  

Marital estate

Terminated by: death, divorce, mutual agreement, or execution by a joint creiditor of both the husband and wife can sever a tenancy bhe the entirety.

A deed or mortgage against one spouse is ineffecitve  

no right right of survivorship 

each can different interests but are entitled to possesion of the whole 

pro rata duty for share of necessary repairs 

no right of contribution for improvements

contribiution can be demanded for taxes and mortgages payements  

• Created by written lease. 
• Continues for a fixed period of time at which time is automatically terminates. Most landlords reserve right of entry for a breach of covenants. Tenant can also surrender.  

run for successive periods until terminate by notices by either party. Created by, express agreement, implication, operation of law. 

Termination: automaticallly renewed until proper noitce of its termination is given: usually one full period in advance.  

created by express agreement that the lease agreement can be terminated at any time 

can be terminated by giving notice and a reasoanbel time to quit by any party with the power to do so 

creation: a tenancy at sufferance arises when a tenant wrongfull remains in possession after expriation of a lawful tenancy 

termination: lasts until landlord takes steps to evict 

Tenancy for years 

Periodic Tenancies

Tenancy at will

Tenancies at sufferance  

landlord may evict or bind to new period tenancy. 

old terms will govern.

commercial will be held to year to year

residential month to month  

Tenant on premises but fails to pay rent: evict or sue for rent

Tenant abandons: do nothing or repossess  

• Duty to dleiver actual possession of the premises 
• Quiet enjoyment: landord nor paramount title houder will not interefer with tenants quiet enjoyment
• Implied warrant of habiltability, non waivable  

• landlord must follow local housin codes. if not tenant may:
•      terminated lese, repair and offset cost against future rent, remain in possession and pay full rent and sue for damages  

• objective intention of the party who made the annexation of the item: factors in this determination are
• nature of article,
• manner of attachement,
• amount of damage that would be caused by removal and
• adaption of the item into the realty 

easement holdr has the right to use anothe's tract of land for a special purose but has not right to possess or enjoy that land. an easement is presumed to be of prepetual duration unless the grant specifically limits that interest. 

an easement that runs with the land regardless of whether it is mentioned in the conveyance. dominant tract is benefited by the servient tract.  

easement that does not require the holder to have another parcel. Right to use. this is not transferable if non economic

• Express grant
• Epxress reservation
• Implication
• Perscription  

• Prior to the division of a single tract 
• An apparent and continuous use exists on the servient part
• that is reasonably necessary for the enjoyment of the dominant tract
• the court determines that the parties intended the use to continue after the division of the land.  

subdivison plat 

• open and notorious use 
• adverse
• continous uninterrupted
• for statutor  period  

• stated conditions 
• unity of ownership (merger)
• deed of release
• abandonment
• estoppel
• prescription
• end of a necessity that created the easement
• condemnation and destruction  

• estoppel 
• license coupled with an interest  

• Intent of the original parties 
• Notice (if BFP)
• Hoizontal Privity (shared interst between original parties in the land)
• Vertical Privity (successor must hold entire durational interst)
• Touch and Concern  

• intent 
• vertical privity
• touch and concern  

Written promise to do somethign on the land or not to do something on the land usually found on in the deed. 

• written release 
• merger of the benefit and burdened estatess
• condemnation of the burdened property  

a covenant that regardless of whether it runs with the land, equity will enforce agaisnt the assignees of the burdened land who have notice of the covenant. The usual remedy is injunction. 

The remedy sought. Real covenants=money. Equitable servitudes = Injunction. 

A single promise can create both a real covenant and an equitable servitude.  

negative equitable servitudes may be implied from a common scheme for development of a residentail subdivision. 

evidence of a common scheme by a : recorded plat, general pattern of restrictions, oral representations by early buyers

notice (actual, inquiry, record) 

• Intent of orignal parties 
• Successor of the porimsory has acutal, inquiry or record notice of the servitude
• Covenant touches and concerns the land  

original parties intdneded 

servitude touches and concerns the benefited property  

• Actual entry giving exclusive possession 
• Open and notorious
• adverse
• continuous throught the statutory period  

statute of limitations does not run when the true owner was under some type of disability when the cause of action first accrued 

Parties enter into land contract 

Time Between contract and closing

Closing

Recordation  

The contract must be in writing to comply with the statute of frauds 

The Prsumption will be that time is not of the essence unless so stated 

Implied covenant of marketibiltiy arises

Buyer inestigates  Seller's title. If tefective, buyer must notify seller and give him an opportunity to cure. 

During this time, the risk of loss is on the buyer  

Title passes if deed is valid ly executed and delievered. 

Land sale contract is extinguished along with implied covenant of marketabiltiy if title passes

At this point the only basis for a suit by the buyer is an express covenenat. There are 6.

Buyer records deed to protect title against a subsequent purchaser for value

if the contract states, the circumstances indicate that it was the parties intent, one party gives the other party notice 

• must be in writing 
• signed by the grantor
• reasonably identify the parties and the land

 

It has been delievered and accepted 

• General warranty deed
• Special warrranty deed
• Quitclaim deed

Seisin  

Covenant of right to convey

Covenant agaisnt encumbrances

Covenant for quet enjoyment

Covenant of warranty

covenant for further assurances  

grantor covenants that he has title and possession of the poperty at the time of the grant 

covenant that grantor has authroity to make the grant 

grantor covenants that grantee will not be distrubed in possession by a thrid party's lawful claim of title 

grantor agrees to defend agaisnt reasonable claism of title by a thrid party and to compensate the gratee for any loss sustained by the claim of superior title 

the grantor promises to perform acts reasonable necessary to perfect title conveyed 

seisin, right to convey, against encumberances 

quiet enjoyment, warranty and further assurances

that the grantor has not conveyed the same estate or any interest therein to anyone other than the grantee 

that the estate is free from encumbrances made by the grantor