LEASEHOLDS
Tenancy at Will
A tenancy at will is a tenancy that may be
terminated by either party.
Periodic Tenancy
A periodic tenancy is an estate for a stated period
that automatically renews at the end of each
period and may be terminated with proper notice.
Tenancy for Years
A tenancy for years is an estate for a fixed period
that automatically terminates at end of the period,
thus the landlord has a reversionary interest.
Tenancy at Sufferance
A tenancy at sufferance is when a tenant stays
after a lease expires.
Landlord’s Obligations and Rights
A landlord has a duty to maintain common areas
under the landlord’s control.
A landlord has a duty to make the leasehold
comply with the implied covenant of habitability.
A landlord may evict a tenant but may not employ
self- help.
Tenant’s Obligations and Rights
A tenant has a duty to pay rent but non-payment
is allowed when the lease involves an illegal
purpose, the landlord breaches the implied
covenant of quiet enjoyment, the leasehold is
taken by eminent domain, or if the purpose for
leasing the premises becomes impossible.
Evictions
-An actual eviction is when a landlord deprives a
tenant of possession of the leasehold.
-Constructive eviction occurs when the landlord’s
conduct substantially interferes with the tenant’s
possession of the leasehold.
-A partial eviction is when a tenant is deprived of
part of the leasehold.
A landlord may not retaliate when a tenant
informs authorities of the landlord’s wrongdoing.
OWNERSHIP TYPES
Life Estate
A life estate is a lifetime ownership of real
property.
Fee Simple Defeasible
A fee simple defeasible is real property that is
subject to possibly being taken away.
Fee Tail
A fee tail is real property that passes only to lineal
descendants.
Fee Simple Absolute
A fee simple absolute is a complete ownership of
real property.
Joint Tenancy
A joint tenancy is when two or more co-owners
take identical interests and rights of possession
simultaneously by the same instrument. Joint
tenancies generally come w/ right of survivorship.
Tenancy in Common
A tenancy in common is when each tenant is
deemed to own by himself, a physically undivided
part of the entire parcel with no right of
survivorship.
Tenancy by the Entirety
A tenancy by the entirety is an estate owned by
husband and wife, which is subject to right of
survivorship.
FUTURE INTERESTS
The Rule Against Perpetuities limits ability of
owners to control future dispositions of their
property. Under RAP, interest in real property is
void if there is a possibility it may vest more than
21 years after life in being when interest is
created.
Under Doctrine of Merger, if one person owns two
estates, e.g. a present interest in land and a
future interest in land, the interests merge.
Under the Doctrine of Worthier Title, a grantor
may not convey a remainder to her heirs.
Executory Interests
An executory interest is a future contingent
interest in real property.
A shifting executory interest cuts short a
preceding estate in favor of another grantee.
A springing executory interest cuts short a
reversion held by the grantor.
Remainders
A remainder is a future interest arising in a third
person that takes after the natural termination of
the preceding estate.
A contingent remainder is a remainder given to
an unascertained person or made subject to a
condition precedent.
A vested remainder is a remainder ascertained to
an existing individual.
A remainder subject to open is a vested
remainder that is given to one person but that
may later have to be shared with others.
Grantor’s Future Interests
A right of re-entry is created in the grantor of an
estate that is subject to a condition subsequent.
A reversion is a future interest in real property
arising by operation of law whenever an estate
owner grants to another an estate but the grantor
does not dispose of the entire interest. Examples
include life estates and estates for term of years.
USE RIGHTS
Easements
-An easement creates a right for the easement
holder to use land owned by another.
-Easements may be created by Rx, reservation,
necessity, estoppel, grant or dedication.
-Mutual agreement is required to change an
easement’s location.
-Easements can be terminated by estoppel,
abuse, merger, written release, abandonment, or
destruction of servient estate.
-A gross easement is not attached to the land, but
an easement that’s appurtenant is attached to the
land.
A servient tenement is the real property whose
owner is burdened by the easement, while a
dominant tenement is the real property whose
owner is benefited by the easement.
-A negative easement prevents the owner of the
servient estate from lawful use of her real
property, while an affirmative easement benefits
the easement holder by allowing him to use the
servient estate.
-Types of negative easements are light, air,
subjacent support, and lateral support.
CONVEYANCE CONTRACTS
A land sale contract must be written and signed
by the seller unless part performance has
occurred. The writing must contain essential
terms and title to the land must be reasonably
free from doubt.
ADVERSE POSSESSION
Adverse possession is the hostile, adverse, open,
notorious, actual, continuous, and exclusive use
of land belonging to another. An adverse
possessor may tack on her own possession
periods unless the statute of limitations is tolled.
EQUITABLE SERVITUDES AND COVENANTS
An equitable servitude is a restriction on the use
of real property. An equitable servitude must be
written, an intention to bind the real property must
exist, and the transferee must take the real
property with notice of the equitable servitude.
A covenant running with the land is not as good
as an easement but better than a personal
contract. A valid covenant must run with the land,
touch and concern the land, and a privity of
estate must exist.
RECORDING ACTS
A race statute holds that the first person to record
has priority.
A notice statute holds that the last bona fide
purchaser has priority.
A race-notice statute holds that the first bona fide
purchaser that records has priority.