A. property is abandoned when the owner no longer wants it

B. Abandoned Property belongs to the finder against all others

a. owner voluntarily and intentionally places property where it is found by someone else

b. finder of mislad aquires no rights, owner of premises is owner against all but true owner

a. property that has been hidden or concealed for so long that the owner is dead

b. coins, or currency, includes antiquity

c. pirates booty

d. belongs to finder against all others but true owner

rsembles property and has similar rights

ex: News is not property, representation of it is

person with a voidable title can sell to a BFP, but is not the true owner.

in selling, the true owners claims are extinguished

statuory estopple

by giving a person who deals in goods of that kinds possession, you give him the right to sell your property

*purpose is to protect BFP's and create efficient market

equitable estopple

when you take somebody's land via possession for the duration of the statute of limitations

possession must be

actual

hostile

exclusive

continuous

open and notorious

effectively extinguishes owner's title, adverse possessor now has best title.

policy: puts property back into a useful status, punishes wasteful owner

- use of the land must be consistent with nature of land

- how would a normal owner have used

- adverse possessor can lease to someone else

- depends on statute of limitation

- requires that occupier have more than fragmented

- case by case

open and notorious

simply means that he adverse possessor plans to claim and treat the land as his own

Maine Hostility:subjective standard; did he know that it wasn't his and still act like true owner? if yes: owner

connecticut hostility: objective hostility; did he act like true owner? if so: hostile

Iowa: requires good faith; I thought this was mine, so it is

writing which the adverse possessor believes conveys good title, but is busted so it does not

person who enteres under color of title to one part of property, gains entireity of property

constructive possession

fiction by which possession of a portion of land that is encompassed in deed of land that is adversely possessed is deeded to adverse possessor

if any occupied by true owner, then you don't have constructive title

if occupied by a third party, only have title to what you occupy

siezen

fee simple

life estate

fee tail

-absolute ownership of potentially infinite time

-ADD

- this is your land, you can do with it as you like

-owner has a right of reversion if a condition is met

- ADD

- Fee simple AUTOMATICALLY ends when condition occures

- if stated condition is violated, automatically goes back to grantor

- possibility of reverter

- estate has the potential to be fee simpel perpetually

-land could go back to grantor if condition occurs

-grantor must pro-activley Re-enter property

- right of re-entry

- estate automatically decends to heirs

-virtually abolished

- grantor retains right of reversion

- estate lasts only as long as grantee is alive

- terminates on time of death of grantee

- at death of grantee, reverts to grantor or someone with remainder or executory interest

- alienable, but grantee 2 gets nothing more than grantee 1 had

is there a future interest?

- yes, grantor has a reversion

-yes, 3rd party has a remainder

life tenant must not commit waste

- voluntary waste: actual or overt conduct which causes decrease in value

- permissive waste: neglecte

- ammeliorative waste: do not improve value of property unelss all future interest owners are cool with it

O to A for life; remainder to B

- born or ascertained person

- person is certain to acquire present interest at sometime in future

-ADD

O to A for life; then to B's children (B is alive and has two kids)

- remainder that is vested in a group of takers, at least one of whom is qualified to take possession

- ADD

O to A for life, then to B

- remainder limited in favor of born or ascertained person or class

- subject to occurance or non-occurence of condition subseqent

- may not ever occur, or may occur and then divest

O to A for life; if B survives A, then to B and his heirs

- if the "if" comes before the remainder, it's contingent

- can be subject to a condition precedent

- can be to an unborn or unacertained person at time of grant

- ADD

- follows any kind of fee simple

- is not a remainder, only occurs when a previouse interest is terminated, cut short

-an intereste will fail the RAP, if there is any possibility, however remote, that the interest will not vest within 21 years of a measuring life of the initial grant

- this applies to contingent remainders, VRSOD, executory interest (not vested at creation)

- absolutely vested interest, VRSCD, interest retained by grantors

- estate owned or possessed by two or more persons with no right of survivorship

-each person owns an individual part and each has a right to possess the whole

-each co-tenant has undevided interest in the whole

- ADD

needs unity of possession

-

- when one cotenant wrongfully excludes another one

- if you oust, then you have to pay rent

- if a cotenant leases to a third party, he must account half of the rental income

- cotenants where at the death of one the remaining tenant takes full ownership

- four unities

- unitiy of time

-unity of title

- unity of interest

- unity of possession

- alienation invalidates JTROS

- As does sale, partition (voluntary or in kind)

tenants by the entirety

- essentially JTROS that arises presumptively between married persons unless otherwise expressed by grantor

- requires four unities (time, title, interest, possession) AND marriage

- only severable by divorce or mutual conveyance

- transfer of interest in real property by instrument complying with statute of frauds

- usually created by deed, sometimes via prescription

- enables the owner to prevent owner of land from making certain uses

-promises between adjacent landowners concerning uses of property

-

- easement by grant

- always run with the land

- must meet with statute of fruads

- must be in writing

- must be signed by owner of servient estate

- unity of title

- severence of title

- use for which implied easement is claimed existed prior to severence (quasi easement)

- use is continuous and appearant

- reasonably necessary to beneficial enjoyment of dominant estate

- buyer protection

- unity of title

- severence

- necessity is brought into existence by the severence

- necessity must be strict rather than reasonable

- open and notorious

- continuous

- actual

- knowledge and aquiescence by the owner

- hostility is not required

- no exclusivity

- tacking applies; for an easement appurtenant

- exercised in connection with occupancy of a particular parcel of land

- benefits a particular piece of property

- servient estate, and dominant estate

- automatically runs with land, regardless of mention in conveyance

- on benefits the dominant estate

- easement that gives the holder some personal or commercial benefit

- not related to enjoyment of land

- there is a servient estate, but no dominant estate

- generally not transferrable except for commercial purposes

priviledge to use land in possession of another

- is revocable at any time

- created by expressed or implied agreement

- not subject to statute of frauds

- generally they are unlimited

- an easement say for "the next 20 years"

if the servient estate is destroyed, if there is a building that gets destroyed or something

- yeah, like a bridge

- servient owner or third person uses easement in a manner inconsistent

- say the dominant fences off his easement

- holders conduct or words are reasonable likely to cause servient tenement to change his position

- servient actually does change his position

- words alone are insufficient to constitute abandonment

- there must be intent to abandon and actions that manifest that intent

- mere non-use is never enough to abandon

- you can't revoke an easement

- if you can, it was a license, not an easement

-(dumbass)

- promises with certain circumstances run with the land

- plaintiff seeks MONETARY DAMAGES

- contains:

- intent to bind

- Touch and Concern

- Privity (horizantal and vertical)

- the above must be analyzed for benefit and for burden

- promises concerning use of property that run with the land wherein the plaintiff will seek SPECIFIC PERFORMANCE

- intent

- touch and concern

- notice

- actual notice

- construction notice

- must analyze from benefit and burden side

- those accepting the covenant on either side intend that the cocenant run with the land

- the words "his heirs, successors, and assigns"

- sufficient if the intent can be gleaned from the terms

- four corners rule

touch and concern

- does it effect the interest of the land (remember, do both sides)

- on benefit side, does it make land more valuable

-on burden side, does it make land less valuable

-must be some land transfer between original promisor and original promisee

- most restrictive: there must be simultaneous interest in the same property

- intermediate: covenant created by deed; same time transferred by the land

- you don't need no stinking privity

- successor in interest has notice of promise made by the predecessor

- can be actual or construcive

- actual: hey, i told you about this

- constructive: can be in the chain of title

- was there actual knowledge?

- should they have had knowledge?

- when a prior purchaser acquires land in expectation of benefit of subsequently created servitudes, there is immediately an implied reciprocal servidtude against the developer's land

- traditional view: broker earns a commission when they have produced a purchasher who is ready, willing and able

- modern view: must produce ready, willing and able and person must enter binding contract

- must be in writing

- idntify buyer and seller

- describe subject matter of contract

- name the consideration

- include signatures of parties

-courts impose good-faith obligations with respect to conditions clauses

ex: you agree to find financing, you need to put in good faith

- when losses are difficult to quantify; deference is given to reasonable liquidated damages agreement

- ex: clause could say that if buyer defaults, seller can keep buyer's deposit

one which is free from reasonable doubt with regard to legal and factual questions

- pretty much its a clean title

- every contract for the sale of land carries an implied brurden on the seller to carry marketable title

- adverse possession

- encumberances

- zoning violations

- defects in recorded chain of title

- provides a less than marketable title

- gives the buyer whatever interest the seller may have

- buyers of land are entitled to specific performance when buyer can possibly perform

- property must be unique

- there must be no other remedy at law

 eqitable conversion

- when land-sale contract is signed, buyers interest becomes interes in real property (land) and seller's interest becomes one in personal property (money)

- buyer is viewed as owner from the date of the contract

- opportunity costs aka reliance damages

- market price - contact price

- risk that the property will be injured or destroyed between when the contract is signed and when deed is conveyed.

- traditional rule

- possession rule

- Massachussett's rule

traditional rule for risk of loss (majority)

-risk of loss goes to the party who has possession

- they are better suited to prevent against loss

- this is more efficient

- the provisions of the contract are discharged by the provisions of the deed

- the provisions of the contract are only valid between the date of the contract and the conveyance of title

- construction stuff doesn't merge (doctrine of collateral promise)

- common law: there is no warranty against latent defects (caveat Emptor)

- modern trend: courts are willing to allow first and subsequent purchasers against builder

- policy: latent defects may not manifest for a while; we want to prevent shotty construction

- must have:

- identifiable grantor

-identifiable grantee

- operative words of conveyance

- identification of the property being conveyed

- Grantor's signature

- grantor makes one or more promises about the state of the title

six covenants in waranty deed

- siesen:grantor owns the estate he is conveying

- right to convey: the grantor has the right to convey

- against encumber: there are no outside interest other than thos in deed

-quiet enjoyment: promise that title conveyed is equal to that the deed describes

- waranty: the same damn thing as quiet enjoyment

- futher assurance: grantor promise to make the title what the deed purports to convey

- describes property by mounuments with directions to next monument

- traces outline of property

- found only west of the APP mountains

- contains detailed description of each individual lot

- contains individual descripstions via metes and bounds or government survey

- each lot is given a number and plat map is recorded

- if there are problems, the intent of the parties is the controlling factor

- all rules of construction are to be aides to determinging intent

- when descriptions conflict, state employs a hierarchy

- deed with insufficient description is void

- mutual mistake may yeild a reformed deed in court of equity

- reformed in favor of grantee, grantor made the contract and should have been clearer

- merger rule applies, deed is final expression

delivery of a deed

- for a deed to be valid it must not only be executed, but also delivered

- delivery requires:

- physical transfer of the deed to from the grantor to somebody else

- words or conduct of the Grantor's intention to vest title in the grantee

what is necessary to convey a deed?

 - delivery

- intent

- acceptance

- delivery to the grantee is to occur on the death of the grantor

- conveyance only occurs when grantor gives up all control

common law method of title assurance

- first in time, first in right

- pretty much if you are first, you get the title unless superceded by a recording act

- exception is a bfp

- warranty deed

- the builder makes a warantee for skillful construction of the home

- buyers can sue later for latent defects

- a seller who misrepresents the condition of the property is liable for damages

- false statement of material fact

- knowledge that seller knew it was false

- intent that the buyer rely on it

- injury

- were in response to common law first in time first in right rule

- give subsequent purchaser ability to check on prior transactions

- places a premium on the race to the records office

- subsequent purchaser wins against earlier, unrecorded interest

-

protects subsequent purchaser ONLY if he meets two req's:

1. he records BEFORE earlier purchaser records

2. he takes without actual notice of the earlier conveyance

eligible for protection against unrecorded prior interest, only if the person took the interest for value and without notice of the prior interetst.

In order to be a BFP you must...

give adequate consideration

and

not have notice of prior interest

actual: knew, heard, generall aware

inquiry: you know enough to where you probably should have asked

you're not bound by easements which occur only in the dominant chain of title

act which reduces period of title search req'd / limits period of title examination. Req's that you search back XX years (depending on statutory period), whatever you find is the root of title. Once you find that, you don't have to search back any farther.

estate for a fixed period of time.

-does not have to be for 'years' (6mo is fine)

-no notice necessary to terminate

-ADD

-can be converted into a periodic tenancy, when lease expires

automatically renews from one period to the next unless one of the parties gives notice

-commonlaw: notice must be given at least 1 rental in advance and can only specify the end of a period as the termination date

mere permission for tenant to be on the premises

-may be terminated at any time by either party

only occurs in 1 RARE situation where a tenant holds over at the end of his lease

-ends when landlord evicts tenant OR hold him to another term

-landlords 'right of election' = he has the choice of evicting TatS or charge him for another rental period

-Identification of landlord and tenant

-Adequate description of the premises subject to the lease

-Amount of rent and times payable

-Term of lease

commonlaw: no such thing implied (caveat Emptor) - must be expressly provided

contract to supply housing IS SEPERATE from contract to pay rent.

you have to pay even if the landord doesnt supply you a 'habitable' place.

how you would get out of your lease if the premises arent habitable (taking a chance - courts will rule on it)

-if landlord fails to perform some act / performs wrongful duty (to which he is under a duty to perform) which results in a substantial interference w/ tenants use and enjoymen of premises, the tenant may 1) notify the landlord, and if problem persists, 2) vacate ->relieves him from paying rent

-tenants obligation to pay rent is mututally dependant on landlords implied warranty of habitability

-representative of the shift from caveat emptor where dwellings were secondary to the land leased to modern view where tenant, with vastly inferior bargaining power is interested in the dwelling itself and its being suitable for habitation

breach = basic libing conditions are not maintained

-breach may occur even if housing standard codes are met (codes are a floor not a ceiling)

1. vacate and stop paying rent

2. stay in possession and assert implied warranty of hability defense - entitles him to reduction in rent

3. make repairs and deduct from rent

commonlaw: landlord did not impliededly warrant that leased premises were suitable for any particular purpose

Modern trend: implied warranty of suitability by landlord in commercial lease that premises are suitable for intended purpose

reasons: no reason to assume that a commecial entity has equal bargaining power with a landlord. commerical entities are just as stupid as habiters

(habitability for commercial purposes)

-when tenant transers their ENTIRE interest to another person.

-privity of K between L and T1

-privity of estate between L and T2

transfer for less than entire interest

- L and T2 have NO privity of estate NOR privity of K

-T2 is liable to T1 and vice versa

Maj: if lease contains an approval clause, landlord may arbitrarily allow assignment or sublease no matter how unreasonable refusal is

Min: even if there is an aproval clause, landlord may only refuse for commercially relevent reasons