This is an extract of our Real Property Super Summary document, which we sell as part of our Real Property - Bar Exam Outlines collection written by the top tier of Thomas Jefferson School Of Law students.
The following is a more accessble plain text extract of the PDF sample above, taken from our Real Property - Bar Exam Outlines. Due to the challenges of extracting text from PDFs, it will have odd formatting:
PROPERTY PRESENT POSSESSORY ESTATES Fee Simple Absolute: Largest estate in terms of duration. Presumption in favor of. Fee Tail: heirs of her body. ML treat as FSA. Life estate: Estate based on the life of grantee [or another - per autre vie]; alienable to extent of interest. Entitled to ordinary use / profits Restraints on Alienation: No absolute on FSA. Conditions ok, no rest. on actual transfer. Right of first refusal ok to grantor. Fee simple Determinable: Automatically reverts to grantor (so long as, until, while, during). Followed by Possibility of Reverter Fee simple subject to Condition Subsequent: Grantor may act to reenter land (but if, provided that). Followed by Right of entry Fee simple subject to Executory Limitation: Automatically passes to TP. Followed by Executory interest in TP: springing / shifting FUTURE INTERESTS: Includes possibility of reverter; right of entry; executory interest. Reversion: What's left over for grantor when he grants less than he owns. Remainders: Express future grant to TP; possessory, if at all, at the natural expiration of prior estate. Vested: Unconditional grant in existing person. Right against prior estate for waste, taxes, mortgage interest. Absolute, class gift/subj to open/partial divestment, or subj to comp divestment (exec interest, cond subseq, etc.) Contingent: Condition precedent, or unascertained/unborn person. RAP applies, no rights for waste/taxes. Class gift: Some r.men not yet known. Class closes when any member entitled to take (usually when parent dies) Waste: Tenant must maintain (repair, pay taxes/interest) estate; normal use. Liable to vested remainders for anything more/less. Destruction of CRs: CR destroyed if not vested at end of preceding estate
[ML; Property reverts to O and they have springing EI) RAP: CR, EI, VRO, opt to purchase. No interest is good, unless it must vest or fail no more than 21 years after some life in being. JOINT TENANCIES: All tenants have right to possess the whole. No adv poss unless ouster. J/T: TTIP Unity of Time, Title, Interest & Possession. Express "w/right of survivorship." Conv to T/C severance of unity; partition. T/C: Unity of possession. Freely transferable. No right of survivorship. Partition available. T/E: Unity of time, title, interest, possession & person (H&W). Any transfer is void unless by both spouses. T/C at divorce. Contribution: Liable for necessary repairs, mortgage, taxes, but not improvements (adjustment at sale). LANDLORD-TENANT T's duties: Pay rent (unless LL release, 100% condemnation, const evict); all repairs if expressed in lease (except wear and tear) Abandonment: LL can accept, retake & terminate lease, or rerent and hold T for damages.
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