HADM 487 - Midterm Exam Outline - Real Estate Law Outline...

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Real Estate Law Outline Freehold VS Non Freehold: 1) Freehold has seisin which is an attribute of ownership that is passed down 2) Non Freehold = tenant Deeds and Wills (used to pass property) “‘To A” = words of purchase Words of Limitation = “For Life” Freehold Estates Life Estate Fee o Fee Simple Absolute (free inalienability and infinite duration) o Fee Tail (To A and the heirs of A’s body) restricted A from conveying land outside of bloodline o Defeasible Fees (limited, uncertain) Fee Simple determinable “ so long as…certain conduct is avoided” Possibility of Reverter is Automatic Fee Simple Subject to a Condition Subsequent “ on the condition that”/”provided that” Right of Entry (reverter requires some legal action) Not transfer intervivously In both, grantor retains a future interest Fee Subject Absolute – once given away there aren’t any conditions Laws of Intestacy usually says spouse gets some percent and children get rest Co Ownership Whole = right of survivorship, part = partition rights Joint Tenancy “By the part and by the whole” o Unity of time , title , interest and possession o Ways to break Joint Tennancy: Sale
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This note was uploaded on 02/25/2008 for the course H ADM 487 taught by Professor Aklausner during the Fall '06 term at Cornell University (Engineering School).

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HADM 487 - Midterm Exam Outline - Real Estate Law Outline...

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