1The 3 types of fee simple estates are SAD:
S – Fee Simple SUBJECT to a Condition Subsequent or Precedent
A – Fee Simple ABSOLUTE
D – Fee Simple DETERMINABLE
2Fee Simple DETERMINABLE
- These interests can be recognized by SUD language
o S – “SO long as” liquor is not sold on the land
o U – “UNTIL” the land is not used for religious purposes
o D – “DURING” this period, the land is used only for residential
Purposes
3Fee Simple SUBJECT to a Condition Subsequent or Precedent
- You’ll recognize these interests when they BOP you on the head
o B – “BUT”, if liquor is ever sold on the land, then to G
o O – “ON condition that” the land is used only for residential purposes
o P – “PROVIDED” the land is not used for commercial purposes
4Freehold estates are LEFTS
LE – Life Estates
FT – Fee Tails
S – Fee Simple (SAD)
5Joint Tenancies are created in the PITT, and require unity of
P – Possession
I – Interest
T – Time
T – Title
64-D’s defeats a tenancy by the entirety
D – Death of one spouse automatically vests title in surviving spouse
D – If one spouse becomes a Debtor in bankruptcy, Fed law allows the trustee in
bankruptcy to sell TE & divide proceeds (½ to trustee in bankruptcy & other ½ to
non-bankrupt spouse).
D – Dual transfer of TE, in which both H & W take part
D – Divorce, annulment, or, in NY, a separation judgment
7PIP may enforce an oral realty k
P – Buyer who has Paid the purchase price, in whole or in part
I – Buyer making valuable Improvements on realty
P – Buyer taking Possession
8SEC FEW are in warranty deeds
S – Covenant of Seisin.
E – Covenant against Encumbrances
C – Covenant of the right to Convey
F – Covenant of Further Assurances
E – Covenant of Quiet Enjoyment
W – Covenant of Warranty
9The CIA gives notice to a real prop buyer
C – Constructive Notice
I – Inquiry Notice
A – Actual Notice
10PINTS for real covenants, but TINS for equitable servitudes
P – Privity of Estate
I – Intent by original contracting parties that covenant attach to land & run to future
assignees (Horizontal Privity)
N – CIA Notice of Restrictive Covenant
T – Must Touch & Concern the land
S – Must satisfy the SOF
'TINS' is PINTS withouth the element of privity of estate.
11A COW partitions realty
C – Court Decree
O – Oral Agreement between all (100%) of the co-tenants provided they all (100%)
go into possession
W – Signed Writing voluntarily partitioning property by exchange of deeds signed by
all co-tenants
12The hostility prong of AP is negated if, during 10 yr period, AP calls the owner OPA
O – Offers to buy land from true owner
P – Asks Permission of true owner to use land
A – Acknowledges title’s in owner
13TIP a chattel, and it becomes a fixture
T – Type of chattel that generally becomes part of real estate
I – Intent of person installing chattel (whether it was intended to be permanently
installed, or the person intended to subsequently remove it).
P – The parties’ relationship
14Even if a lease is silent on these topics, a
landlord HEARS these implied covenants
H – Habitability
E – Quiet Enjoyment
A – Assignability of the lease
R – Good Repair (this covenant is made by commercial landlords)
S – Minimal Security Precautions
15A landlord out-of-possession is liable in tort to the POLICE for injuries
P – Where the property was leased for a Public Purpose, and LL failed to inspect and
repair dangerous conditions before turning over the land to tenant
O – Arising Outside the premises, proximately caused by a dangerous condition on
the premises, which LL should have known about when he turned over the land
L – Caused by Latent defects that LL should have known about, where tenant has
not had reasonable time to discover and repair that condition
I – Where tenant’s Intended use created an unreasonable risk of harm to others, and
LL was aware of this intended use
C – Where LL has multiple leases in the same building, and the injury occurred in a
Common passageway
E – Where LL Expressly covenants to make repairs, and fails to do so, causing injury
16Rule Against Perpetuity - COPER
• Contingent remainders/class gifts
• Option to purchase connected with a fee
• Power of appointment
• Executory interests
• Right of first refusal
17Constructive Eviction - SING
Substantial Interference
Notify
Goodbye
18What types of eviction are there when a breach of quiet enjoyment occurs?
When you are evicted, PAC your things and go.
P - Partial Eviction
A - Actual Eviction
C - Constructive Eviction
19When the Implied Warranty of Habitability is breached, what do you do?
RATS
R - Repair and offset
A - Abate the rent
T - Terminate the lease
S - Sue for damages
20What makes a title unmarketable?
A property can be called "A FEE" and you have to pay "a fee" to check whether title is marketable
A FEE
A - Adverse possession
F - Future Interest holder unborn
E - Encumbrances exist
E - Existing violation of zoning ordinances
21When is a seller liable for defective property and when is disclosure failure?
Think of angry (MAD) relatives/kin (KNS) who a seller sold a house with a defect to
M- Misrepresentation
A - Active Concealment
D - Disclosure failure
K - Knows or has reason to know of defect
N - Not apparent on ordinary inspection
S - Serious defect
22Deeds - Void
NFF! The sound of void.
N - Not delivered
F - Forged
F - Fraud in factum
23No landlord liabity to tenant for defects in the rental except for:
CLAPS
-common areas
-latent defets (at start of lease - warn)
-assumption of repairs (must complete)
-public use rule
-short term lease of furnished dwelling
24Landlord-Tenant - Waste Types
PAV'ing your landlord's driveway is a waste.
P - Permissive waste
A - Ameliorative waste
V - Voluntary Waste
25Landlord-Tenant - Covenant to Repair
Duty vs. No Duty
Duty = wear and tear unless expressly excluded, reconstruction
No Duty = fire and casualty damage unless expressly included
26Easements - Termination of an Easement
CEES using the RAMP - terminate the easement
C - Condemnation and destruction
E - Estoppel
E - End of necessity
S - Stated condition
R - Release
A - Abandonment
M - Merger
P - Prescription
27Deeds - Voidable
DUMB MF'er
D - Duress
U - Undue influence
M - Mistake
B - Breach of fiduciary duty
M - Minor/incapacitated
F - Fraud in inducement
28Covenants in General Warranty Deeds
Quiet WARS
Fights involving covenants in general warranty deed are Quiet WARS involving mostly paper pushing.
Covenant of :
Q - Quiet enjoyment
W - Warranty
A - Against encumbrances
R - Right to convey
S - Seisin
29Tenant's entitlement for breach of implied warranty of habitibility
MR3
Move out and terminate lease
repair and deduct
reduce rent (keep money in escrow)
Remain in possession and seek damages
30Tenant breaches while out of possession
SIR
Surrender (words/action)
Ignore (hold responsible) or
relet (ry, find new T and mitigate then terminate lease)
31Tenants duties to Landlord
WIP RR
Waste not
illegal purpose NO
pay rent
repair