LAW OF REAL PROPERTY

1
LAW OF REAL PROPERTY

• NATURE OF REAL PROPERTY
• INTERESTS/RIGHTS IN
• THE LAND, ITS ELEMENTS, AND ATTACHMENTS TO THE
  LAND

2
INTERESTS IN REAL PROPERTY

• FEE SIMPLE ESTATES
• LIFE ESTATES
• LEASEHOLD ESTATES

3
LIFE ESTATES

• LIFE ESTATE
• PRESENT ESTATE
• LIFE TENANT RIGHTS
• WASTE
• REMAINDER OR REVERSION
• FUTURE ESTATE

4
LEASEHOLD ESTATE

• LANDLORD TENANT RELATIONSHIP
• INTERESTS OF LANDLORD AND TENANT

5
LEASES - TYPES

• SET TERM LEASES TENANCY FOR YEARS
• PERIODIC TENANCIES
• MONTH TO MONTH
• YEAR TO YEAR

6
TENANTS RIGHTS

• EXCLUSIVE POSSESSION AND USE
• CONSTRUCTIVE AND ACTUAL EVICTION
• CONDITION OF THE PREMISES
• WARRANTY OF HABITABILITY

7
TRANSFER OF TENANTS INTEREST

• ASSIGNMENTS AND SUBLEASES
• LIABILITY OF THE ASSIGNEE AND SUBTENANT
• CONSENT REQUIREMENTS AND OTHER RESTIRCTIONS ON
  TRANSFER

8
CO-TENANCIES

• JOINT OWNERSHIP OF PROPERTY REAL OR PERSONAL
  PROPERTY
• TWO COMMON FORMS
• TENANCY IN COMMON
• JOINT TENANCY WITH RIGHT OF SURVIVORSHIP

9
CO-TENANT RIGHTS

• CO-TENANTS - TENANTS IN COMMON AND JOINT TENANTS
  HAVE
• UNDIVIDED INTEREST IN PROPERTY
• EQUAL RIGHT TO POSSESSION/USE
• RIGHT TO TRANSFER THEIR PERCENTAGE INTEREST IN
  PROPERTY
• RIGHT TO SEEK A PARTITION

10
TENANTS IN COMMON

• MAY HAVE UNEQUAL INTERESTS IN PROPERTY (E.G.,
  60/40)
• A TENANTS INTEREST PASSES TO HEIRS AT DEATH
• A TRANSFER OF A TENANTS INTEREST HAS NO EFFECT
  ON THE TENANCY

11
JOINT TENANTS

• INTERSTS MUST BE EQUAL
• SURVIVORSHIP FEATURE INTEREST OF A DECEASED
  JOINT TENANT PASSES TO OTHER JOINT TENANTS UPON
  DEATH
• TRANSFER SEVERS THE JOINT TENANCY BECOMES
  TENANCY IN COMMON IN WHOLE OR IN PART

12
EASEMENTS

• NATURE OF EASEMENT
• NONPOSSESSORY INTEREST IN REAL ESTATE
• RIGHT TO USE ANOTHERS REAL ESTATE FOR A
  SPECIFIC PURPOSE

13
EASEMENTS CREATION

• EXPRESS EASEMENT
• BY DEED
• IMPLIED EASEMENTS AND BY NECESSITY
• PRESCRIPTIVE EASEMENTS