1. CONCURRENT ESTATES A. G/R i. Property that is simultaneously owned & possessed by more than one person B.

JOINT TENANCY i. 4 unities time, title, interest, possession ii. Right of survivorship iii. Mortgages: A & B are JT. A takes out mortgage. A dies. Result: As death extinguished his interest and the mortgage, B now has a FSA free from As mortgage. iv. Severability: 1. conveyance/partition; mortgage (title theory yes, lien theory no); lease (c/l yes, m/l no); agreement, death (rt.of svsp) C. TENANCY BY ENTIRETY i. + 5th unity marriage ii. No unilateral severance D. TENANTS IN COMMON i. G/R: each co-t owns a distinct, proportionate, undivided interest with no right of survivorship ii. Mortgages: A & B are TIC. A takes out mortgage. Mortgage is now only good against half the property, if sold most bank recovers is half the proceeds. E. RIGHTS AMONGST CO-TENANTS i. Accounting --- One T account for profits to the others unless: 1. Ouster (requires notice of repudiation + deprivation of possession) 2. Agreement 3. Lease to a 3p 4. Depletion of natural resources ii. Contribution 1. Co-ts must equally contribute for: taxes, necessary repairs, joint mortgage 2. But, co-ts do not have to contribute for losses or improvements (except at sale/partition) iii. Recouping for laying it out 1. If one co-t pays more than theyre share for something (tax, repair, mortgage) then they dont have a right to collect personally 2. They can deduct the amount from the others share of rent paid by 3p, or 3. They can take it off the top at a sale iv. Overpaying to save 1. If one co-t has to pay for all costs to save the property from foreclosure and acquires title as a result, then they must give the other co-ts reasonable time to pay him back for the amount he expended beyond his share. If they pay back, title restored to pre-foreclosure interests. If they dont, then he gets entire title. 2. PRESENT ESTATES A. FEE SIMPLE i. An estate that runs forever without any limitation on inheritance or alienability B. DEFEASABLE i. G/R: Potential for infinite duration, interest terminates upon the happening of some event. ii. Determinable

1. Durational (so long as, while, during) 2. Grantor retains a possibility of reverter. When event occurs, interest automatically terminates and reverts back to grantor. 3. Freely transferable; subject to RAP iii. Subject to Condition Subsequent 1. Conditional (but if) 2. Grantor retains a right of entry. When event occurs, interest does not end until the grantor demonstrates an affirmative intent to terminate 3. Freely transferable; subject to RAP iv. Subject to Executory Limitation 1. Conditional or durational. 2. When event happens, automatically divests to some third party. 3. Freely transferable; subject to RAP C. LIFE ESTATE i. G/R: Estate that terminates at the death of someone; grantor holds a reversion. ii. Pur Autre Vie: can be measured by another life. iii. Duties 1. Pay Current Operating Expenses (property taxes, allocated portion of mortgage, & reasonable, maintenance repairs) a. Limitations: i. Cap: capped to amount of rent they get from tenant; if no tenant, capped to amount of fm rental value. ii. LE personally liable; grantor must pay out then recoup by lopping off the top of sales proceeds 2. Dont waste a. Cant unreasonably impair value: can only tear down shack to build mansion if substantial & permanent change in the neighborhood has deprived land of reasonable productivity or usefulness. iv. Freely transferable; RAP 3. FUTURE INTERESTS a. G/R: a non-possessory interest capable of becoming possessory at some time in the future. B. IN ANOTHER GRANTEE i. Remainder 1. G/R: A future interest capable of becoming posessory upon the natural termination of the proceeding estate, which is typically a life estate. 2. Vested: Ascertainable person & Not subject to condition precedent a. Subject to Partial Divestment (class gift) b. Subject to Total Divestment (condition subsequent) 3. Contingent: Either no ascertainable person or subject to condition ii. Executory 1. G/R: FI that cuts short a prior estate in favor of a 3P C. TECHNICAL RULES i. Rule in Shellys Case: a remainder in grantees heirs = a FSA in grantee ii. Destructibility of Contingent Remainders 1. C/L: contingent remainder is destroyed if it failed to vest before the termination of the preceding estate. 2. M/L: if it fails, than the grantor gets a FS subject to a springing executory interest.

iii. Merger 1. If A gets LE + every FI but a CR, then the CR is destroyed and A has a FSA. iv. Worthier title 1. LE to A & remainder to grantors heirs = LE to A & remainder in grantor D. RAP i. G/R: No interest is good unless it must vest or fail to vest within 21 years of some life in being at the time of its creation. 4. ADVERSE POSSESSION A. ELEMENTS i. Open and Notorious 1. So the owner is put on notice ii. Hostile 1. A claim of exclusive right of ownership ( LT, Co-t) iii. Actual 1. Consistent with the character of the land iv. Continuous 1. For the SOL B. ISSUES i. Extent of land is color of title ii. Disabilities: incarceration, incapacity, infant tolls the SOL iii. Tacking: can tack but only if there is gapless privity up the chain C. OTHER POINTS i. A/P marketable title, need action for quiet title ii. Can only A/P the interest currently on the land; so if you A/P a L/E then you only have possession for that life iii. Cant A/P a future interest 5. LANDLORD/TENANT A. TYPE i. T for years: beginning and end of term are fixed at outset, so it expires automatically w/o notice. If > 1 yr, SOF. ii. Periodic T: continues for successive periods until terminated with notice. iii. T at will: terminates at will by either party, w/o notice. iv. T at sufferance: T who was rightfully in possession remains, thus becoming wrongfully in possession. B. LS DUTIES i. Duty of Care/Tort 1. No general duty of care to keep premises safe, except: a. If knew/should of defect but fails to disclose at start of lease. Normally, no duty to inspect for dangers. But, if L has reason to know T will hold out premises to public, then there is a duty to inspect (think invitee law) 2. Must use reasonable care to keep common areas safe ii. Delivery Possession iii. Make Repairs iv. Covenant of Quiet Enjoyment: neither L nor anyone acting under L will interfere w/ Ts possession & enjoyment of the premises 1. Non-L: If one not acting under L asserts superior or paramount title, get abatement v. Implied Warranty of Habitability: L must provide property that is reasonably fit for residential use/human habitation

1. Majority of jur.: Commercial property TS REMEDIES i. Total Eviction: obligations cease, get general (cover) or special (hotel costs) damages. ii. Constructive Eviction: 1. If violation is a substantial interference that makes the premises uninhabitable & you vacate within a reasonable time, obligation for rent excused. iii. Partial Eviction: 1. If violation makes it physically impossible to occupy some portion of the premises 2. Then w/hold entire rent, but you dont have to move out. 3. NOTE: If damage is because of 3P, then no damages from L but injunction against 3P. iv. For Failure to make repairs & other violations: stay and sue for damages or repair and deduct v. If L assigns to L1: 1. If failure to keep common areas safe, T sue L until enough time has passed that L1 had a reas. opp.to perform maintenance. 2. If failure to disclose dangerous condition, T sue L until L1 discovers condition. D. TS DUTIES i. Pay rent 1. Subject to Breach of Ls duties and entire condemnation. 2. If entire condemnation then excused from rent & get compensation; if part then pay full rent but get compensation. ii. Make ordinary minor repairs iii. Duty to Behave Reasonably iv. Dont commit waste 1. Affirmative (intentionally damaging); permissive (not fixing things); ameliorating (you think its improvement, L doesnt) v. Rights Re: Fixtures 1. G/R: A fixture is chattel so affixed that it becomes part of land. L compensate Ts for fixtures. 2. Factors: a. Firmly embedded b. Peculiarly adapted/fitted c. Removal would destroy chattel or significantly harm the real estate d. Intent of attachor 3. Trade Fixtures part of land; a. Usually req. commercial tenant b. Removal would destroy chattel or significantly harm the real estate c. Custom vi. Re: 3Ps 1. All l/o duty of care concepts apply to T regardless of Ls role; e.g. trespasser, licensee, invitee. E. LS REMEDIES i. Unlawful Detainer 1. If T fails to pay rent, then any/all: a. Sue for damages, b. terminate lease, c. Evict.
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ii. Abandonment 1. If T abandons: pick one a. Sue for damages, b. treat as a surrender (Ts duties and liabilities end), c. or re-rent on Ts account iii. Ts Defenses 1. Failure to mitigate 2. Retaliatory Eviction a. Cant evict in response to T exercising a legal right; b. Presumed for: either evicted w/in 3-6 mos. of exercising right, or reporting a defect. F. ASSIGNMENT & SUBLEASE i. G/R: an assignment is the complete transfer of all interests under a lease; a sublease is a partial transfer of interests. ii. Assignment 1. Under a valid assignment, the L and T1 are under privity of K by virtue of the original lease, and L and T2 are under privity of estate by virtue of T2 residing on the property. 2. As such, L can sue T1 under a privity of K theory, and L can sue T2 under a privity of estate theory, for any violations. 3. T3: T2 can assign to a T3, who will then be in privity of estate with L, unless the L was a 3PB of T2. iii. Sublease 1. Under a valid sublease, the L and T1 remain in privity of K by virtue of the original lease, but there is no privity of estate between the L and T2. 2. As such, T2 is not personally liable to the L. But, the L can still oust T2 or terminate the original lease for failure to pay. iv. Novation: as long as it is explicit, parties can contract to relieve T1 of liability. v. Restrictions 1. If the lease is silent, then either L or T can freely transfer their interests. 2. If Anit-Assignment Clause, then --- Majority: strictly construed; Minority: enforced as long as denial is reasonable. 6. NONPOSSESSORY A. EASEMENT i. G/R: An easement is an interest in land. Specifically, it is the right to enter land, make limited use (aff.), or restrict use (neg.). ii. Characteristics 1. Appurtenant: easement involves two pieces of land. The parcel that benefits from the easement is deemed the dominant estate, while the parcel that is burdened is deemed the servient estate. 2. In Gross: one piece of land that benefits a particular person. iii. Creation/Types: 1. Express: a. by grant --- if grantor specifically conveys an ease.; by reservation --- if grantor reserves ease. for own benefit. b. SOF: because it involves an interest in land; if not then go to license. 2. Implication a. Severance/Common grantor b. Quasi-easement in existence before conveyance (previous use), c. Reasonably necessary for dominant estate 3. Necessity

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a. Severance/Common grantor b. No requirement of previous use, but must be c. Strictly necessary at time of conveyance 4. Prescription a. Open & Notorious, hostile, actual, continuous and uninterupted b. NOTE: differs from a/p bce prescript. ease only gets you right of use not ownership. Rights & Duties 1. Servient has no obligation to repair or maintain, but cant obstruct dominants right to use 2. Dom. does have a right to maintain (its implied in the eas.) as long as it doesnt unreas. interfere w/ servients use of parcel. a. Can get contribution from servient for repairs in form of servients allocated share so long as serviant shares in use. Scope 1. G/R Defined by terms, in Prescriptive its defined by amount used 2. Increase? Use can increase due to normal foreseeable development up until its an unreasonable interference. a. If dominant excessively uses, servient can get an injunction (but easement not terminate). 3. Re-Locate? Generally, serviant cant relocate the easement; some jurisdictions allow if it doesnt increase burden. Transfer 1. Burden runs with the land unless land sold to a BFP w/o notice; 2. Benefit always runs with the land 3. NOTE: c/l easements in gross transfer; m/l they do if theyre commercial Termination 1. By terms, in a written release, in an agreement 2. Cant be non-use. Has to be Intent to abandon + conduct (because words not enough) 3. Prescription (by another party) 4. If no longer necessary (when its by implication or by necessity) 5. Sale to BFP w/o notice; Merger; Estoppel (oral st or conduct that it will end & detrimental reliance)

PROFIT i. G/R: the right to enter land of another and remove something ii. Same as above, except: 1. Creation: by Writing (SOF), or by Prescription 2. Can be terminated by excessive use C. LICENSE i. G/R: 1. Permission to go onto the land of another, revocable at will. 2. Because licenses can be oral, easements that fail bce of SOF are often characterized as licenses. ii. Revocable: at will, death of licensor or licensee, or attempted assignment. Exception: if money spent, will be enforced by estoppel iii. Stays in existence unless purpose is terminated 7. COVENANTS A. REAL COVENANTS i. G/R: A written (SOF) agreement between the two parties which binds them to act or to refrain from certain conduct ii. Characteristics 1. Dominant/Servient

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2. Affirmative (if servient must do something) / Negative (if servient must refrain) iii. Transfer 1. Burden Runs a. Intent --- did parties intend for covenant to run b. Notice --- was notice of covenant given c. T & C --- does it make the land more or less valuable or useful d. Privity i. Horizontal --- original parties have interest in the land at the same time (grantor/ee, L/T, neighbors in yard) ii. Vertical --- must transfer entire servient estate to successor in interest 2. Benefit Runs a. Intent --- did parties intend for covenant to run b. T & C --- does it make the land more or less valuable or useful c. Vertical Privity --- must transfer entire servient estate to successor in interest iv. Remedy: damages measured by difference in value of land w and w/o the covenant attached to it. B. EQUITABLE SERVITUDES i. G/R: Alternate remedy pursued in a court of equity. ii. Transfer 1. Burden Runs a. Intent b. Notice c. T & C 2. Benefit Runs a. Intent b. T & C iii. Termination: same as easements, BFP w/o notice, A/P doesnt extinguish iv. Remedy: equitable such as injunction or specific performance C. IMPLIED NEGATIVE RECIPROCAL EASEMENTS i. Elements 1. Common grantor & plan or scheme, 2. Other restricted lots 3. Notice ii. Defenses 1. Changed neighborhood conditions --- but only if all houses are affected; all or nothing 2. Unclean hands --- unethical conduct in the particular matter at hand 3. Laches --- unreasonably delay that prejudices the D 4. Estoppel 8. LAND SALES K A. SOF B. MARKETABLE TITLE i. G/R: Implied in every land sales k is an implied warranty that at closing Seller will give buyer title that is reasonably free from defects regardless of the type of deed contemplated in the contract.

ii. Encumbrances 1. Mortgages, tax assessments, easements, A/P without quieting title 2. Violations of covenants (not just the existence of them) 3. Zoning violations (but not building code violations) iii. Purchasers duty: must report defects to give seller reasonable time to cure REMEDIES i. Damages (K price FMV of property with encumbrances) ii. Restitution (money paid out) [special note-deposits are liquidated damages clauses] iii. Specific performance (& if its about an acerage deficiency, s/p with abatement) D. MERGER i. Once buyer accepts title, he waives all rights under contract E. EQUITABLE CONVERSION i. G/R: buyer becomes equitable owner of property during pendency of contract & assumes risk of loss; seller retains legal title. ii. If the seller dies his heirs get the money, if the buyer dies his heirs get the property 9. DEEDS A. G/R i. A valid conveyance requires: ii. a valid deed; complies with the SOF (subject matter must be specifically described but no consideration is necessary) iii. Present delivery, and iv. Acceptance B. DELIVERY/PRESUMPTIONS i. G/R: 1. Delivery turns on the grantors intent. 2. Delivery is valid if there is physical transfer + intent to make it immediately effective. 3. There will be no delivery if grantor retains an absolute right to recover ii. Conditional Delivery 1. No conditional delivery to a grantee. 2. Can give conditional delivery to an independent 3P agent a. Escrow: requires that deed be irrevocably delivered to escrow agent & escrow agreement in writing. iii. No revocability: once present intent to deliver is found, cant be retracted iv. P/E: can use p/e to decipher intent. v. Presumptions 1. Grantee possession rebuttable presumption deed is valid 2. Grantor possession rebuttable presumption invalid 3. Deed recorded rebuttable presumption valid C. RECORDING ACTS i. G/R: 1. All prior interests in land 2. are void if not duly recorded 3. as to a subsequent BFP for value. ii. BFP
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1. Acts in good faith, 2. w/o notice of earlier transaction 3. for valuable consideration iii. Recording Statute 1. Race --- first to record wins, irrespective of notice 2. Notice --- subsequent BFP without notice prevails over prior 3. Race/Notice --- subsequent prevails if they are first to record and werent on notice COVENANTS i. Present --- Personal to grantee, dont run with land. Breached immediately 1. Seisin: has ownership 2. Convey: has right to convey 3. Encumbrances ii. Future --- Runs with land. Breached after possession + requires some victorious adverse claim in order to recover under 1. Quiet enjoyment: buyer not disturbed by lawful claim of title 2. Warranty: seller will defend against all claims 3. Further assurances: do what is necessary to perfect iii. Types 1. General Warranty: warrants all covenants, before and after grantors ownership 2. Special Warranty: warrants only those defects that existed during grantors possession 3. Quitclaim: no warranties E. CHAIN OF TITLE i. In order to be properly protected, a deed must fall within the chain of title; thus wild deeds dont give notice ii. Estoppel by deed: if you convey but dont have title, once you get title it immediately passes to grantee iii. Shelter rule: subsequent BFP is protected by original grantees chain of title 10. SECURITY A. TYPES i. Mortgage: a conveyance to a creditor to secure loan on real property (Mortgagor = homeowner; Mortgagee = bank) ii. Deed of trust: a deed thats given to a private person, allows private sale on default (mortgage allows public) iii. Installment land k: when seller takes title until paid. B. CONSEQUENCES i. G/R: first in time, first in right; if its a purchase money mortgager then they take priority over other mortgages taken at that time. ii. Foreclosure: destroys junior interests who get notice; if junior doesnt get notice they can go after senior/foreclosure/property iii. Order: costs and attorney fees; mortgage thats foreclosed, junior interests in order C. TRANSFER i. G/R: each party can freely transfer his/her interest ii. By mortgagor: if subject to then land liable; if assumes then personally liable (+ so is original absent Novation) iii. By mortgagee: 1. new mortgagee stands in shoes of old 2. Holder in due course a. Mortgagee transfers note by endorsing and delivering to a transferee b. Transferee who pays valuable consideration takes free from any personal defenses by maker
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c. Elements i. Note negotiable ii. Original note endorsed iii. Original note delivered iv. Transferee takes in good faith, must pay money value d. Effect : transferee is not bound by payments to an old mortgagee, even if mortgagor knew nothing of the transfer FIXTURES 11. WATER RIGHTS A. RUNNING i. Riparian: if domestic owner uses all he needs; if non-domestic owner uses reasonable amount ii. Prior Appropriation: anyone who makes beneficial use of the water has a right to use it B. UNDERGROUND i. Right to reasonable use C. SURFACE i. Natural Flow: O can take reasonable steps ii. Common Enemy: O has unlimited discretion 12. RIGHTS OF SUPPORT A. ADJACENT i. S/L for land ii. S/L for improvements only if weight of improvement did not cause collapse, in this case go to negligence B. SUBJACENT i. S/L ii. Holder of minerals is S/L for failure to support the surface
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