called a fee on limitation characterized by "so long as" language

called fee on condition characterized by "but if" language.

remainder vested subject to complete defeasement or subject to total divestment. 

remainders subject to condition precedent are not subject to destructibility in NY. terminaion of preceding estate does not terminate the remainder.

1) fee tail: O to A and the heirs of A's body. Becomes fee simple in A.

2) Rule in Shelley's Case: O to A for life remainder to As heirs. creates life estate in A and remainder in As heirs.

3) Doctrine of Worthier Title:  O to A for life remainder to Os heirs. Creates life estate in A and a remainder in Os heirs. 

right of reacqiusition is transferable to a third party like any possessory estate. 

1) NY requires an owner of future interest record a declaration of intention to preserve restrictions on use of land not less than 27 years but not more than 30 years after the future interst was created.

2) then must refiel that declaration after every 9 to 10 years unless holder of interst has already retaken possession under conveyance. 

3) right of reverter in NY is not necessarily self-executed.

NY applies. 

But Ny presumes that a woman over the age of 55 cannot have additional children. modification of fertile octogenarian rule. 

Also applies to commercial options.

general life tenant cannot make changes to property. modified the multistate definition NY provides life estate holder with a defense against ameliorative waste so they can make changes so long as

1) proposed alteration is one which a prudent owner in fee simple absolute would make in view of condition on porperty.

2) proposed alteration when complete will not reduce the market value

3) proposed alteration is not in violation of the terms of any agreemetn regulating the conduct of the life estate holders

4) life expectancy of the life tenant or the term left on a term of years interst is not less than five years and

5) person proposing the alteration has served on all future interest holders notice of alteration at least 30 days prior to the commencemnet of the alteration.

in NY a lien does not sever a joint tenancy only default or foreclosure sale does.

NY law recognizes a tenancy by the entirety which prvents spouse from unilaterally ocnveying away the property

- NY requires residential leases ot be written in a clear and coherent manner failure to comply subject landlord to damages.

creates implied month to month tenancy if 1) tenant continues to pay rent AND 2) landlord accepts rent.

becomes a periodic month to month tenancy if landlord accepts rent.

requires landlord to give 30 days notice

1) if landlord resorts to self help but wrongly evicts tenant may recover treble damages

2) although commercial lease may contain a provision authorizing landlord to reenter premises such reentry must be preceded by demand for rent due

3) when remains in possession past term of the lease a new incoming tenant may either bring an action against holdover tenant or void lease.

4) if the premises are destroyed the tenant does not ahve to pay rent

5) leases cannot include a no children clause excpet for facilites exclusively  for people over 55 years old. 

6)landlords are under a duty to keep the property in good repair.

1) landlord does not ahve a duty to mitigate damages by trying to relet the premises 

2) landlord amy colelct double rent from a tenant who remains in possession after lease ends if tenant gave notice of intention to leave

3) tenant can be liable for damage resulting from tenants acts or negligence

4) landlord may withold consent to an assignmetn of the lease for any reason. (not sublese nees reason)

period is 10 years (good faith?)

Co tenants adversely posess against each other required to show more than mere possession the cotenant must commit acts constituting ouster

- co tenant alternatively can begin to claim an implied ouster if cotenant held property exclusively for 10 years (then hodl for adverse period 20 years total)

remedies for umarketable title if the seller is not at fault are 1) recover purchase money 2) expenses of title examination 3) nominal damages.

existance of possibility of reverter makes title unmarketable.

seller required to provide buyer with statutory disclosure form called property condition disclosure statement and requires sellers to provide detailed info about condition of the property. 

- applies to 1-4 family dwellings NOt co-ops and condos.

- sellers can choose not to fill out the form and credit the buyer with 500 at closing.

risk of loss is with the seller until the buyer takes posession in or title is transferred.

NY does not have a statutory right of redemption. mortgagee has two optiosn for recovering unpaid debt 1) suing to recover unpaid debt and ringing forclosure action as part of the recovery OR 2) filing a foreclosure aciton on property. 

NY has abolished non-judicial foreclosures power of sale clause in mortage is immediate effect.

Before foreclosing bank must 

1) send notice 90 days in advance

2) advise the debtor to avoid default and enter state counseling

3) appear at a mandatory conference in 60 days with someone authorized to settle the debt. 

usury is available in NY as a defnse for a mortgage so long as the mortgage hoolder is not dead?

race-notice jurisdiction in order for a subsequent purchaser to take good title she must 1) take without notice of the prior interest and 2) be first to record.