Real Property and Landlord Tenant Law

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Chapter 37

• Real Property and Landlord Tenant Law

2
Real Property

• Land and buildings and other things permanently
  attached
• All else is personal property
• Air rights and subsurface rights
• Included, but can be sold separately
• In the west, water rights issues

3
Fixtures

• Personal property that has become attached to
  real property such that it has become part of the
  real estate
• Usually does not include basic building materials
• Examples

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Is it a Fixture?

• Intent when attached
• Hard to know, so often ask, is the real estate
  damaged if it removed?
• Also Who attached?
• Practical tip In real estate transaction
  specify what is and is not included so dont have
  to rely on if it is a fixture.

5
Fee Simple Ownership

• Real Estate Ownership can be split in many ways
• Fractional interest
• By rights
• By time
• Fee Simple Absolute
• Total ownership
• Still must comply with zoning, etc.

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Life Estates

• Ownership that expires upon the holders death
• Cannot pass on in a will (nothing left after
  death to pass on)
• Can sell, but limited to life of seller

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Nonpossesory Interests

• Easement
• Rights related to anothers land
• Profit
• An easement with a right to remove resourses
  (e.g. timber, oil)
• Licenses
• Short term right to use anothers land

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Deeds

• A document of transfer, not proof of present
  ownership.
• Somewhat like a receipt
• Newly created deed for each sale or other
  transfer
• Warranty Deed
• Quitclaim Deed
• How does a car title certificate differ from a
  deed?

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Recording of Deeds

• Notice to the world of your ownership
• Done at the county clerk and recorder office (in
  Boulder, on 33rd St.)
• Failure to do so? you might lose property
• Lenders will make sure this is done

10
Adverse Possession

• Obtain ownership by living on others land
  (squatters rights)
• Exclusive possession
• Open and visible
• Continuous long enough (colo is 18 years)
• Peaceful
• Hostile and Adverse (w/o permission)

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Leasehold Estates

• Tenancy for years (fixed term)
• Clear end date, most Boulder leases
• Periodic (e.g. month to month)
• Usually 1 month notice to end
• At will either can end w/o notice (rare today)
• Sufferance (holdover)

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Leases

• Old common law rule Oral ok if less than a year
• Many states now require all to be in writing
• Regardless, get it in writing!
• Make sure you understand it!

13
Landlord tenant

• Tenant is entitled to quiet enjoyment of
  property
• Landlord has duty to make sure this happens
• No general duty to maintain premises, other than
  to keep legal (building codes, etc.)
• Many leases provide a landlord obligation to do so

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Warranty of Habitability

• Some states require landlord to maintain minimum
  habitability.
• Very basic level
• Not required in Colorado

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Transfer of Landlord Interest

• Buyer/new landlord must respect old lease (e.g.
  cannot raise rent or impose new pet
  restrictions).
• As tenant, beware of damage deposit issues.make
  clear who has it after the sale.

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Leases Transferring tenants Interest

• Sublease used generally to describe 3
  situations
• Sublease Landlord not involved, original tenant
  collects from new
• Assignment New tenant takes over in all
  respects, but old tenant liable if new doesnt
  perform
• Novation An assignment where new tenant takes
  over in all respects and landlord releases old
  tenant