Embed Code - If you would like this activity on your web page, copy the script below and paste it into your web page.
Normal Size Small Size show me how
Normal Size Small Size show me how
MBE Property I
Property - Ownership and Rights in Land
| Term | Definition |
|---|---|
| Ownership and Rights in Land - Coverage Areas | -Ownership --Future Interest ---FSD ---FSCS --Joint Tenancy --Partition Proceedings -RIGHTS IN LAND --Licenses --Easements-creation and destruction --Covenants |
| Checkpoint Items | -Co-Tenants --Joint Tenancies -Licenses -Easements -Issues concerning equitable principles |
| Future Interests | -Future Interest in Grantor --POR (auto) --ROR (Duty) --Reversion -Present Possessory Interest --FSA --FSD --FSSCS --FSSEL --Life Estate -Future Interest in Third Party --Executory Interest --Remainder |
| Rule Against Perpetuities | 1)Contingent Remainders 2)Options to Purchase (Fee options) 3)Powers of Appointment 4)Executory Interests 5)Rights of First Refusal |
| Restraint on Alienation I | -A restriction prohibiting the recipient from selling or otherwise transferring his interest in the property. -Such restraints are void as against public Policy of allowing landowners to freely dispose of their property. |
| Restraint on Alienation II | ...-Certain restraints are valid including: --A prohibition against partition of property fro a limited time |
| Restraint on Alienation III | ...--The right of first refusal - a sells property to B, A may req' that if B later decides to seek the property she must first give a the opportunity to buy it back. |
| Concurrent Estates I | -JOINT TENANCIES 1)4 unities - time, title, interest, possession 2)Survivorship-Estate passes to the survivor -TENANT BY THE ENTIRITIES (TBE) 1)Reserved for husband and wife 2)5th unity person |
| Concurrent Estates II | -SEVERANCE-JT becomes Tenancy in Common (TIC): 1)Conveyance Inter vivos 2)Death of one of two remaining JT's 3)Mortgage under the title theory 4)Final Partition Action -TENANCY IN COMMON 1)Unity of possession only. |
| License | A revocable personal privilege to enter the servant tenement of the licensor with liability for trespass. |
| Easements I | -A non-possessory interest in the use of land of another -Easements in Gross 1)No dominant tenement 2)Do not run with the land -Easements Appurtenant 1)2 Parcels- benefitted -dominant; burdened-servient 2)Does run with the land |
| Easements II | -Creation 1)Expressly in writing-grantor to grantee 2)Necessity-landlocked, but allow jude to decide 3)Implication-reflect practices and customs of property 4)Prescription-adversely possessed (no exclusivity) |
| Easements III | -Termination 1)Written release 2)End of necessity 3)Abandonment-Req intent & physical act 4)Merger-Unity of ownership |
| Covenant | A contract in which the covenanter makes a promise to covenantee to do or not do some action tied to the use of land. A covenant running with the land, imposes duties or restrictions upon the use of that land regardless of the owner! |
Created by:
Gkell001
Popular Law sets