HADM 487 - Final Exam Outline

HADM 487 - Final Exam Outline - Final Exam Outline Liens...

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Final Exam Outline Liens Lien = legal right which may be exercised over property to satisfy a debt of the owner of the property Common Law Rule o First in time is first in priority for lien collection o Tax and IRS liens automatically take priority A judgement lien vs a mechanics lien o Judgement lien requires a lawsuit because it was a separate entity o Mechanics lien no lawsuit is necessary because mechanic added value to the house Strictly Construed = the contractor/liener has to follow rules of statute Exactly, otherwise, no lien Landlord Tennant Law Combination of Property Law, Contract Law and Liability Law Non Freehold Estates (tenancies) o Tenancy for Years Measured by time Expires on set date Must be in writing (Statute of frauds) Periodic Tenancy o No definite ending o Notice required to terminate (same period i.e. 30 day notice for month- month lease…in NY must have at least full 30 days) Tenancy at Will o No definite period o No notice required to terminate o Can become Periodic Tennancy if establish period Tennancy at Sufferance o Trespasser, holdover—expired lease Landlord Duties Covenant of Quiet Enjoyment o Ability to use…if not stated it is implied in lease o Landlord can not interfere with tenants use of property Warranty of Habitability o Is the property reasonably suitable for human habitation (implied in lease) Heat and water are legal standards Remedy = Constructive Eviction Had to be abandonment by tenant Tenant Remedies Withold rent Repair and deduct
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Terminate lease and seek damages LL has duty of reasonable care in Common Areas “jointly and severally liable” = LL can go after 1 tenant for whole amount Usually LL has duty to repair o Tenant is always liable for injuries. If LL knew, then LL could be liable too Sub Leases o Tenant remains liable (even after sublease) unless tenant gets express release from LL (written) Commercial Leases 1. Net Lease = only payment by tenant is for RENT ONLY o Does not include utilities o Tenant arranges services directly 2. Full Service Net Lease
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HADM 487 - Final Exam Outline - Final Exam Outline Liens...

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