Term
| 4 Ways to Make an Easement |
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Definition
- Express (grant or reservation)
- Implication (prior use or necessity)
- Prescription
- Estoppel |
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Term
| Express Easement by Grant |
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Definition
| deed or will (writing that satisfied Statute of Frauds) expressly grants an easement to another |
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Term
| Express Easement by Reservation |
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Definition
- deed grants a fee (possessory interest) to the other party but reserves an easement
- benefiting "stranger" to title (courts split on this) |
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Term
| Easement by Implication - Prior Use |
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Definition
- an apparently permanent and obvious servitude
- imposed on one part of the an estate in favor of another
- is in use at the time of the severance of the estate
- reasonably necessary for the fair enjoyment of the other |
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Term
| Easement by Implication - Necessity |
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Definition
- united parcel owned by common owner
- parcel is divided
- one of the divided parcels is landlocked |
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Term
|
Definition
- open and visible
- actual
- continuous and uninterrupted
- hostile and adverse
- exclusivity
- required period of time |
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Term
| Easement by Estoppel (Irrevocable License) |
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Definition
- a license that matures into an easement
- the owner of the servient estate "permitted another to use that land under circumstances in which it was reasonable to foresee that the user would substantially change position believing that the permission would not be revoked
- the user substantially changed position in reasonable reliance on that belief
- injustice can be avoided only by establishment of a servitude |
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Term
|
Definition
| affirmative right to enter property |
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Term
|
Definition
| forbidding one landowner from doing something on his land that might harm a neighborhood |
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Term
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Definition
| the adverse use must be made in such a way that a reasonably diligent owner would learn of its existence, nature and extent; no knowledge by neighbors is necessary |
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Term
| Continuous and Uninterrupted |
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Definition
| generally 15 years but check the statute of limitations |
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Term
|
Definition
- a use without permission and without recognition of the right of the land owner
- if the claimant has shown open, visible, continuous, and unmolested use for the statutory period, the use will presumed to be under a claim of right and adverse
- servient owner has burden to rebut the presumption by evidence that the use was permissive |
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Term
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Definition
| oral or written permission allowing licensee to do an act that would otherwise by trespassing |
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Term
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Definition
- landowner benefits from parcel (i.e. driveway)
- runs with the land (transferable) |
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Term
|
Definition
- personal benefit rather than the landowner
- personally have a right to cross over land to get to something |
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Term
|
Definition
- Dominant: the benefitted land
- Servient: burdening a parcel of land |
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Term
|
Definition
- written conveyance or release
- merger
- prescription
-abandonment |
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Term
| Termination of Easement (Written Conveyance or Release) |
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Definition
| the holder of the easement releases the burdened land from the burden in writing |
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Term
| Termination of Easement (Merger) |
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Definition
| when both the servient and dominant estates become owned by the same person |
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Term
| 4 Traditional Types of Negative Easements |
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Definition
- Light
- Air
- Water
- Dirt
- Light
Modern adds conservation and scenic |
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Term
| Termination of Easement (Prescription) |
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Definition
- if the servient estate wrongfully interferes with the easement for the statutory period of prescription easement is terminated
- single owner violates covenant for prescriptive period
- covenant extinguished only for that owner |
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Term
| Termination of Easement (Abandonment) |
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Definition
- terminated if easement is abandoned
- acquiescence in widespread violations
- abandoned as to all owners |
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Term
| Prescriptive Easement Theories |
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Definition
Modern: protects uses that continue beyond the statute of limitations for bringing an action against the use
Traditional: protects uses that had continued for a long time with the "acquiescence" of the servient estate owner |
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Term
|
Definition
| landowner uses part of his/her tract to benefit another part while tracts are in unity of title |
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Term
|
Definition
- enforceable promises btwn a land owner and someone else
- negative covenant: promises that restrict the owner of land from making certain uses of the servient estate
- affirmative covenant: obligate the promisor to undertake affirmative acts |
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Term
|
Definition
- Real Covenants
- Equitable Servitude |
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Term
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Definition
| promises are generally enforceable only by/against those who made the agreement |
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Term
|
Definition
- Enforceable Promise
- Intent to bind successors
- Touches and concerns land
- Privity (vertical and horizontal)
- Notice |
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Term
|
Definition
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Term
|
Definition
- enforceable promise
- intent to bind successors
- touches and concerns land
- notice |
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Term
| Remedy for Equitable Servitude |
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Definition
- injunction
- specific performance |
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Term
| Real Covenant v. Equitable Servitude |
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Definition
| Real Covenant requires privity of estate while Equitable Servitude does not |
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Term
|
Definition
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Term
| Horizontal Privity of Estate |
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Definition
- property connection between original parties
- successive interest (grantor/grantee)
- mutual/simultaneous interest (lease, easement) |
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Term
| Vertical Privity of Estate |
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Definition
- property connection between an original party and a successor
- successor has assumed the entire interest of one of the original parties |
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Term
| Privity is NOT required when.... |
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Definition
- trying to enforce the burden on an original party
- trying to enforce the burden upon a successor as an equitable servitude |
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Term
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Definition
| to enforce the burden of a covenant against a successor for monetary damages |
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Term
| Default Rule: Rule of Reason (Scope of Easement) |
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Definition
Servient Estate Owner
- may make any use of the burdened property that does not unreasonably interfere with the enjoyment of the easement
Easement holder
- may do what's reasonably necessary for enjoyment of the easement so long as it doesn't unreasonably damage/interfere with the enjoyment of the servient estate |
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Term
| Maintenance (Scope of Easements) |
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Definition
- look to parties' intent (if expressed)
- if not expressed...default rule
* easement holder has the right/obligation to maintain the easement |
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Term
| Change/Expansion (Scope of Easements) |
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Definition
- nature of the use
- the intensity of the use |
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Term
| Constructive Eviction Steps |
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Definition
- act/omission by landlord, landlord's agent or third party w/ paramount title
- causes substantial interference w/ tenant's use and enjoyment of the leased premises
- tenant gives notice and opportunity to cure
- tenant vacates |
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Term
|
Definition
- "let the tenant beware"
- placing upon the tenant all responsibility for the condition of the premises during the tenancy, except in those cases where the landlord expressly contracted to bear responsibility |
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Term
| Exceptions to Caveat Lease Responsibilities |
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Definition
- the property suffered from a defect the landlord knew or should have known and the tenant wouldn't have noticed at inspection
- maintaining the physical condition of the common areas under the landlord's control
- any repairs the the landlord contractually agreed to perform
- if there was a short-term lease for furnished premises the landlord would be responsible for those premises
- leasing a building under construction, the landlord would be responsible for the completion of the construction for the purposes of the tenant |
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Term
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Definition
| a covenant by the landlord, implied by law into residential leases, that the landlord will maintain the premises in a habitable condition throughout the duration of the lease |
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Term
| Implied Covenant of Quiet Enjoyment and Duty to Deliver Possession (English Rule - Majority) |
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Definition
| landlord has a duty to deliver actual possession on the first day of the lease |
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Term
| Implied Covenant of Quiet Enjoyment and Duty to Deliver Possession (American Rule - Minority) |
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Definition
| landlord must convey legal right to possession, but no duty to ensure that premises are vacant |
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Term
| General Test of Habitation |
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Definition
- defect that makes premises unfit for habitation
- housing code violation = some evidence, but not required |
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Term
|
Definition
POC
- landlord and tenant
- tenant and assignee
POE
- landlord and assignee |
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Term
|
Definition
POC
- landlord and tenant
- tenant and subtenant
POE
- landlord and tenant
- tenant and subtenant |
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Term
| Assignment + Assumption of Lease by Assignee |
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Definition
POC
- landlord and tenant
- tenant and assignee
- landlord and assignee
POE
- landlord and assignee |
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Term
| Assignment + Assumption and Novation (New) |
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Definition
- landlord and assignee have a new contract excluding the original tenant
- they now have POC and POE exclusively |
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Term
|
Definition
POE is btwn landlord and Assignee 2
POC
- landlord and tenant
- tenant and assignee |
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Term
| Lease as a Conveyance (Traditional) |
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Definition
- caveat lessee applied
- LL generally not liable for repairs
- covenant of quiet enjoyment was implied |
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Term
| Lease as Contract (Modern) |
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Definition
- LL may be obligated to make repairs under a warranty of habitability
- this warranty of habitability is another exception to the independent covenants rule |
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Term
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Definition
- damage is caused by waste
- if parties agreed that tenant would make repairs |
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Term
| Destruction of Premises Due to Casualty |
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Definition
- traditional: tenant was not required to rebuild structures, but still owed rent
- modern: lease is terminated and tenant is relieved of future liability for rent |
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Term
| Actual v. Constructive v. Breach of CQE short of constructive eviction |
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Definition
Actual: tenant is physically ousted/dispossessed by LL, LL's agent or someone with paramount title
Constructive: act/omission by LL, LL's agent or someone with paramount title that substantially interferes with use and enjoyment
Breach of CQE: tenant may seek damages/injunction (remains in possession and still pay rent) |
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Term
|
Definition
Traditional: Tenant relieved of all liability for rent (but still liable for quasi-rent for portion tenant still uses)
Modern: rent is apportioned |
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Term
| Partial Constructive Eviction |
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Definition
Traditional: constructive eviction doesn't exist if the tenant remains in possession of any part of premises
Modern: Tenant pays reduced rent |
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Term
| Does LL have duty to deliver possession? |
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Definition
English Rule (majority): LL has a duty to deliver actual possession on first day of the lease
American Rule (minority): LL must convey legal right to possession but no duty to ensure the premises are vacant |
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Term
| Evolution of Tenant's Rights to Habitable Premises |
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Definition
| Caveat Lessee --> Illegal Lease Doctrine --> Warranty of Habitability |
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Term
| Remedies for Breach of Warranty of Habitability |
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Definition
- Terminate
- Rent abatement
- repair and deduct
- specific performance |
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Term
| Easement in Gross (Transferability) |
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Definition
Traditional: only commercial easements were transferable
Modern: all easements are transferable except those deemed "personal" |
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Term
|
Definition
- survey and subdivision of property
- execution of master declaration and CCRs
- recording of declaration and CCRs
- conveyance of lots by deeds that incorporate CCRs |
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Term
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Definition
- no master declaration
- non-reciprocal covenants (promises by the buyer alone) are placed in deeds to each lot as it is sold |
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Term
| Two Problems w/ Haphazard Development |
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Definition
- covenants in buyer's deed typically benefit only the developer (and successors who acquire developer's retained property)
- developer may fail to include covenants in every deed to property within the CIC |
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Term
| Implied Reciprocal Servitude |
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Definition
- common owner of 2 or more lots
- general scheme of development to mutually benefit lots within the plan
- uniform restrictions in a substantial number of deeds from the common grantor
END RESULT: grantees acquire implied right to enforce restrictions against lots retained by grantor |
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Term
| Third Party Beneficiary Theory |
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Definition
| common development scheme implies that all lot owners are third party beneficiaries of restrictions in other lot owners' deeds |
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Term
| Enforcement of Restrictions (Two-Tier Reasonableness Review) |
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Definition
- if in master declaration/deed, enforceable unless arbitrary, unconstitutional, violates public policy
- if adopted later, enforceable if it meets the less deferential equitable reasonableness test below |
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Term
| Types of Listing Agreements |
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Definition
- Open
- Exclusive Agency
- Exclusive right to sell |
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Term
| Type of Listing Agreement (Open) |
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Definition
| selling process is open to any/all brokers; only the broker who actually procures the buyer gets the commission |
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Term
| Type of Listing Agreement (Exclusive) |
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Definition
| listing broker is the only broker the seller can use; gets commission if buyer is procured through efforts of anyone other than the seller himself/herself |
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Term
| Type of Listing Agreement (Exclusive Right to Sell) |
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Definition
| listing broker has the exclusive right to engage in marketing during the listing period; gets a commission even if the buyer is procured through the seller's own efforts |
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Term
| When is a broker's commission earned? |
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Definition
Traditional: when broker produces "ready, willing, and able buyer"
Illinois: when parties have an enforceable contract
Modern: when contract is consummated at closing |
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Term
| For whom does the broker work? |
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Definition
- generally for the seller
- can be a buyer's agent
- or dual agency |
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Term
| Remedies for Risk of Loss |
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Definition
- actual/monetary damages
- specific performance
- liquidated damages
*Test: whether amount is reasonable (1) in light of anticipated damages and (2) difficulty of proving the damages |
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Term
| Basic Requirements of Land Transfer |
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Definition
- Statute of Frauds requires a writing (the deed)
- must have intent to transfer + delivery of the deed
- acceptance also required but is rarely an issue |
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Term
|
Definition
- manually/physically directly to grantee
- by escrow (to a third party "escrow agent" who makes delivery to the grantee)
- there is a presumption regarding delivery |
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Term
| Deed presumed to be delivered when... |
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Definition
- it is in the physical possession of the grantee
- it has been recorded |
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Term
| The presumption of a deed being delivered is... |
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Definition
- rebuttable
- BUT, if recorded some states recognize a irrebuttable presumption |
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Term
| Deeds Subject to Conditions Precedent |
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Definition
| a grantor may condition delivery upon a certain event (payment of purchase price) |
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Term
| Deeds as Will Substitutes |
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Definition
- a deed conveying a remainder to the grantee
- a "death escrow" (grantor has to give up all dominion and control over the deed)
- revocable deed (courts divided)
- a transfer on death or "beneficiary" deed (allowed in some jurisdictions) |
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Term
|
Definition
- metes and bounds
- plat maps
- government land survey |
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Term
|
Definition
- described in relation to natural monuments or artificial monuments
- starts at an identifiable point on the property then uses distance, compass point headings and the monuments and "closes" by returning to the point of beginning |
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Term
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Definition
| generally used for larger tracts when divided into a number of small parcels (subdivisions) |
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Term
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Definition
- rectangular survey system
- established by Congress in 1785 as a standardized way of describing all land conveyed to or acquired by the federal government
- done in intervals of six miles and establishes townships and range line
- sections in the townships are subdivided in one mile intervals into 36 sections
- sections can then be further subdivided into quarters, half of quarters and fourth of quarters |
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Term
| Federal Land Survey (North - South Line) |
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Definition
| principal or prime meridian |
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Term
| Federal Land Survey (East - West Line) |
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Definition
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Term
|
Definition
- file stamped; copy made; original returned
- copies placed in books in order of receipt |
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Term
| Document is indexed when... |
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Definition
Traditional: grantor-grantee index
Modern: tract index; or computerized |
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Term
| Title Search Four Step Process |
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Definition
- search title backwards in grantee index
- check title forwards in grantor index
- look at every document in the chain
- look for documents in other records (separate mortgage books, probate records) |
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Term
| Recording Acts provide for... |
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Definition
- recording interests in land
- prioritizing competing claims to the land |
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Term
| Derivative Title Rule (Common Law) |
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Definition
| first in time = first in right |
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Term
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Definition
- race
- notice
- race-notice |
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Term
| Recording Act Statute (Race) |
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Definition
| subsequent purchaser prevails if they record first |
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Term
| Recording Act Statute (Notice) |
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Definition
| subsequent purchaser prevails if they lack notice of prior conveyance at the time of purchase |
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Term
| Recording Act Statute (Race-Notice) |
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Definition
| subsequent purchaser prevails if they lacked notice and record first |
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Term
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Definition
| the protection of a recording act extends not only to the bona fide purchaser, but also to grantees who take from that person |
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Term
| Persons protected by Recording Acts... |
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Definition
| generally the subsequent purchasers for value |
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Term
|
Definition
- actual notice: actual knowledge of a prior conveyance
- constructive/record notice: knowledge imputed from the recording system
- inquiry notice: knowledge imputed from off-record facts/circumstances |
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Term
|
Definition
- wild deeds
- deeds recorded too early or too late
- multiple chains of title from a common grantor |
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Term
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Definition
| chain of title broken by unrecorded deed |
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Term
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Definition
- if grantor, by the language in the deed, represents that a title of certain quality is being conveyed, the grantor is estopped to deny later that such title has passed to the grantee
- generally limited to warranty deeds |
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Term
|
Definition
- recorded out of sequence
- unacknowledged
- forged
- undelivered |
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Term
| Three Types of Title Protection |
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Definition
- Promises in the real estate contract
- title investigation
- post closing title assurance |
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Term
| Promises in the real estate contract |
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Definition
Default: marketable/merchantable title
Alternative: marketable record title, insurable title |
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Term
|
Definition
- title search
- title insurance commitment
- attorney opinion letter |
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Term
| Post Closing Title Assurance |
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Definition
- deed warranty
- title insurance |
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Term
|
Definition
- title not subject to reasonable doubt; one that persons of reasonable prudence (with legal advice) would be willing to pay the fair value for
- not a perfect title, but title reasonably secure against litigation or flaws decreasing market value |
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Term
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Definition
| title that an insurance company is willing to insure unconditionally and without exception (other than those recognized by the contract) |
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Term
|
Definition
| title that is proved marketable by the public records |
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Term
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Definition
- flaws in title
- encumbrances
- events that have deprived the seller of title (eminent domain, adverse possession) |
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Term
|
Definition
| mortgages, liens, leases, easements, covenants |
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Term
| Title v. Non Title Defects |
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Definition
Non-Title Defects = physical defects of the property
Title Defects = existence of outstanding rights in the property |
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Term
| When is seller required to convey title? |
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Definition
| seller is required to convey title at closing unless otherwise stated in contract |
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Term
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Definition
- once a deed is delivered, all contract provisions relating to title merge into the deed
- buyer can now only sue on covenants in the deed
- cannot sue on "marketable title" promise in contract
- does not apply to collateral matters, can sue on promises in the contract not related to title |
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Term
|
Definition
- general warranty deed
- special warranty deed
- quitclaim deed |
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Term
| Damages under a Warranty Deed |
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Definition
| generally, grantor's liability is limited to the purchase price received |
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Term
| Who Can enforce deed warranties? |
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Definition
| grantees under the present covenant successors because it runs with the land under future covenant |
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Term
| Is the grantor liable for encumbrances the grantee had knowledge of? |
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Definition
- some courts find the grantor NOT liable
- some courts will hold the grantor LIABLE |
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Term
|
Definition
- generally insures "marketable title"
- subject to exclusions and exceptions from coverage |
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Term
| Exceptions from Title Insurance Coverage |
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Definition
- taxes/assessments not yet due or payable
- encroachments/boundary line disputes that could be disclosed by a survey
- rights of parties in possession
- easements, liens not shown by public records
- any defects/interests found in insurer's title search |
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Term
| What is the duty of a title insurer? |
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Definition
- to provide payment for insured loss
- in some states they have a duty to conduct the title search and identify defects in title commitment |
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Term
| Who gets title insurance? |
|
Definition
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Term
| What happens during the investigation period of the loan process to get a home? |
|
Definition
- credit checks
- property appraisal |
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Term
| What two documents are executed at closing for a home? |
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Definition
- promissory note
- mortgage |
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Term
| What happens during the investigation period of the loan process to get a home? |
|
Definition
- credit checks
- property appraisal |
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Term
| What two documents are executed at closing for a home? |
|
Definition
- promissory note
- mortgage |
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Term
| How do you foreclose on a mortgage? |
|
Definition
- judicial (court-supervised)
- power of sale (no court supervision) |
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Term
| What are the alternatives to foreclosure? |
|
Definition
- loan workout
- deed in lieu of foreclosure
- short sale |
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Term
| Types of Land Use Regulations |
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Definition
- nuisance (common law)
- servitudes (private regulations)
- zoning and other government regulation |
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Term
|
Definition
- use districts
- height districts
- area districts |
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Term
|
Definition
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Term
| Cumulative Zoning Classifications |
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Definition
| most restrictive to less restrictive, moving up and down the pyramid |
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Term
| Constitutional Provisions and Zoning |
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Definition
- 5th Amendment
- 14th Amendment |
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Term
| Constitutional Provisions and Zoning (5th Amendment) |
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Definition
| no person shall...nor be deprived of life, liberty or property without due process of law; nor shall private property be taken for public use without just compensation |
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Term
| Constitutional Provisions and Zoning (14th Amendment) |
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Definition
| no state shall...nor shall any State deprive any person of life, liberty, or property without due process of law |
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Term
| Due Process Clause (5th Amendment) |
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Definition
Procedural: notice and opportunity to be heard
Substantive
- rational basis test: most government regulations
- strict scrutiny test: actions affecting fundamental rights |
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Term
|
Definition
- eminent domain (actual acquisition)
- inverse condemnation (regulatory taking) |
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Term
| Substantive Due Process (Rational Basis Test) |
|
Definition
- legitimate government objective
- law bears rational relation to the objective |
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Term
| Substantive Due Process (Strict Scrutiny) |
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Definition
- substantial/compelling government interest
- law narrowly tailored to achieve the objective |
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Term
| Zoning Flexibility Options |
|
Definition
- zoning amendments
- exceptions
- variances
- non-conforming uses |
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Term
|
Definition
| modification of the entire zoning ordinance/plan |
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Term
| Zoning Exceptions (special use) |
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Definition
| use is authorized by the plan, but requires special approval/permit by the zoning board |
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Term
|
Definition
| deviation granted to a particular parcel for hardship |
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Term
| Non-Conforming Use (Zoning) |
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Definition
| existing use that deviates from a new zoning plan; grandfathered in, but cannot substantially change use |
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Term
| Zoning Commission Responsibilities |
|
Definition
- comprehensive plan
- zoning ordinance
- zoning amendments |
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Term
| Zoning Board of Adjustment Responsibilities |
|
Definition
- variances
- special uses
- errors in enforcement |
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Term
|
Definition
| Covenants, Conditions, Restrictions |
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Term
|
Definition
| the inherent power of a sovereign to take private property for a public use |
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Term
|
Definition
Early Law = required actual public ownership/use
Midkiff: public use = public purpose
Berman: public use = police power (health, safety, morality, law and order, and the public welfare)
Kelo: public use includes economic development |
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Term
| When is something categorically a taking? |
|
Definition
- permanent physical invasion
- land owner deprived of all economic value |
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Term
| When is something categorically NOT a taking? |
|
Definition
| use was prohibited by background laws (nuisance law) |
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Term
| Character of Government Action (More likely to be a taking) |
|
Definition
- temporary physical invasions
- acquired for uniquely public function |
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Term
| Character of Government Action (Less likely to be a taking) |
|
Definition
- public health, safety, welfare
- adjusts economic benefits and burdens for common good |
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Term
| Economic Impact (More likely to be a taking) |
|
Definition
- disproportionate burden on a few
- unduly frustrates investment-backed expectations |
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Term
| Economic Impact (Less likely to be a taking) |
|
Definition
- reciprocal burdens on land owners
- land owner still gets a reasonable return on investment |
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|
Term
| Can someone get just compensation for a temporary taking/invasion? |
|
Definition
|
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Term
| How does a marketing enforceable contract to purchase a home satisfy the Statute of Frauds? |
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Definition
- a writing evidencing the agreement
- essential terms are included
- signature by the party to be charged |
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Term
| Essential Terms for an Enforceable Contract |
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Definition
- Parties
- Property Description
- Intent to Obligate
- Price
- Signature |
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Term
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Definition
| the one attempting to avoid the duty (the one resisting the contract) |
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Term
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Definition
| agreed to by both parties |
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Term
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Definition
- has clean hands
- no adequate remedy at law (damages would be inadequate and the subject matter of the breach is unique)
- has performed or is ready, willing and able to perform |
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Term
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Definition
- applied to risk of loss situations
- once a contract has been executed, buyer has equitable title to the property
- making them responsible for any damage to the property during the gap period |
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Term
| What kind of recording statute does IL have? |
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Definition
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Term
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Definition
| Transferable Development Rights |
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Term
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Definition
- a promise that the grantor owns the interest that the deed purports to convey
- the covenant is only breached when the grantor does not have all of the legal rights the grantor purports to convey |
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Term
| covenant of right to convey |
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Definition
| - grantor's promise that the grantor has the right to convey the interest in the property identified in the deed |
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Term
| covenant against encumbrances |
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Definition
| - the grantor promises the grantee that there are no encumbrances affecting the title to the property |
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Term
| covenant of warranty (to warrant and defend) |
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Definition
- promise to defend the grantee against any lawful claim made against the grantee's title AND
- promise to compensate the grantee for successful claims made against title
Covenant BREACHED if:
- actually or constructively evicted OR
- grantor fails to provide a defense for the grantee |
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Term
| covenant of further assurances |
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Definition
| - grantor promises to take whatever steps are necessary in order to perfect the grantee's title |
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Term
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Definition
- seisin
- right to convey
- against encumbrances |
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Term
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Definition
- warranty
- further assurances
- enjoyment |
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Term
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Definition
- greatest protection against title problems
- contains all six title covenants
- covers breaches from the grantor and grantor's predecessor in title |
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Term
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Definition
- transfers to the grantee only whatever interest the grantor MIGHT have in the property
- contains NO covenants
- NO protection |
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Term
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Definition
| - same as the general warranty deed but only covers breaches from the grantor, NOT the grantor's predecessor |
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Term
| Notice Statute Clue Words |
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Definition
- good faith
- without notice |
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Term
| Installment Contracts and Warranty Deeds |
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Definition
- you get the deed at the last payment
- you aren't promised good title until you make the last payment |
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Term
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Definition
| - all future covenants run with the land and successors can sue for breaches of those warranties |
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Term
| Damages for Breach of Deed Warranty (Partial) |
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Definition
- pro-rated
- entire amount up to the purchase price |
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Term
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Definition
- the covenant must affect the legal relations, burdens, and advantages of the land
- a physical or negative covenant is more likely to touch and concern |
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Term
| Reciprocal Implied Servitude v. Third Party Beneficiary |
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Definition
- RIS does not require a covenant being in the deed, just that there is notice
- TDB does require the covenant to be in the deed in order for the theory to apply |
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Term
| Non Exclusive v. Exclusive Easement |
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Definition
- exclusive easement allows you to divide the land (you have the right to share the easement)
- that is not the case with a non-exclusive easement, the servient landowner only has that right
Exclusivity is ONLY applicable to easements in gross |
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Term
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Definition
| cure default for 90 days after service |
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Term
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Definition
| pay entire mortgage balance three months after foreclosure |
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Term
| Landlord - Tenancy Analysis |
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Definition
- What tenancy exist?
- Can the tenant sub-lease or assign?
- Relationship between the parties? |
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Term
| Tenancy for Years (Fixed Term) |
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Definition
| a tenancy for any fixed term or duration measured in years, months, or days and expires automatically at the end of the fixed term without a need for either party to give notice |
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Term
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Definition
- measured by successive, identical periods of time
- automatically renews for successive periods unless one of the parties gives notice |
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Term
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Definition
- a tenancy without a fixed duration and without any defined renewable periods
- last as long as both parties wants it to and ends when one party demonstrates an intent to discontinue the tenancy |
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Term
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Definition
- not really a tenancy
- happens when the tenant operates as a "hold over" in possession after the lease has expired
- last until the landlord evicts the tenant OR the parties agree to create a new tenancy |
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