Master Property Law

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Questions and Answers

What are the three rights included in property rights?

The right to exclude others from your land, the right to build, and the right to use and exploit the land

The right to exclude others from your land, the right to lease, and the right to use and exploit the land

The right to exclude others from your land, the right to sell, and the right to use and exploit the land

The right to exclude others from your land, the right to transfer, and the right to use and exploit the land (correct)

What are the two types of covenants?

Present and future

Written and oral

Express and implied

Affirmative and negative (correct)

What is cyber property?

The right to access network-connected resources

The right to exclude others from access to network-connected resources (correct)

The right to use network-connected resources without permission

The right to sell network-connected resources

What is the difference between a covenant and an equitable servitude?

A covenant is enforced through an injunction, while an equitable servitude is enforced through damages. Signup and view all the answers

What is the Touch and Concern Doctrine?

It requires that the covenant or equitable servitude must affect the use or enjoyment of the land in some way. Signup and view all the answers

What is the rule of capture?

A rule that applies to animals and provides ownership rights through occupancy Signup and view all the answers

What is adverse possession?

When someone who is initially a trespasser is declared by the law to be the rightful owner of the property Signup and view all the answers

What is the Running of the Burden and Benefit?

It requires that both the burden and the benefit of the covenant or equitable servitude run with the land in order for it to be enforceable against successors. Signup and view all the answers

What are the two types of covenants?

Affirmative and negative Signup and view all the answers

What is the difference between actual notice and constructive notice?

Actual notice means the subsequent purchaser knew or had actual knowledge of the prior interest, while constructive notice means the subsequent purchaser should have known of the prior interest if they had conducted a reasonable search of the records. Signup and view all the answers

What is the bona fide purchaser exception?

A subsequent purchaser who pays value, without notice of a prior interest, will prevail over the prior interest. Signup and view all the answers

What is the Touch and Concern Doctrine?

A requirement that the covenant or equitable servitude must affect the use or enjoyment of the land in some way Signup and view all the answers

What is the bona fide purchaser exception?

A subsequent purchaser who pays value, without notice of a prior interest, will prevail over the prior interest Signup and view all the answers

Study Notes

Property rights are a bundle of rights that include the right to exclude others from your land, the right to transfer, and the right to use and exploit the land. Property has been limited in terms of development, necessity, and equity/fairness. Cyber property includes the right to exclude others from access to network-connected resources. The rule of capture applies to animals and provides ownership rights through occupancy. Adverse possession occurs when someone who is initially a trespasser is declared by the law to be the rightful owner of the property. The rule against perpetuities prevents landowners from controlling land for too long a period of time. Class gifts are a gift to a group of people identified by a group label, not by their names specifically.requirements for a covenant or an equitable servitude? A covenant is a promise to do or not do something related to the use of land. It must be in writing and run with the land in order to be enforceable against successors. There are two types of covenants: affirmative and negative. An affirmative covenant requires the owner to take a specific action, while a negative covenant prohibits the owner from taking a specific action. An equitable servitude is similar to a covenant, but it is enforced through an injunction rather than damages. It must also meet the same requirements as a covenant, including being in writing and running with the land. To determine whether a covenant or an equitable servitude applies, you must look at whether the burden or benefit runs with the land. If it runs with the land, it is likely a covenant or an equitable servitude. The Touch and Concern Doctrine requires that the covenant or equitable servitude must touch and concern the land, meaning that it must affect the use or enjoyment of the land in some way. The Horizontal and Vertical Privity requirements ensure that there is a connection between the original parties and their successors, and that the successors have notice of the covenant or equitable servitude. The Running of the Burden and Benefit requires that both the burden and the benefit of the covenant or equitable servitude run with the land in order for it to be enforceable against successors. Termination of covenants and equitable servitudes can occur through mutual agreement, merger, abandonment, or through a change in circumstances that makes the covenant or equitable servitude impractical or impossible to enforce.that the tenant is not forced to continue paying rent for a space that is uninhabitable. To prove constructive eviction, the tenant must show that the landlord breached a duty, that the breach was material, that the tenant gave the landlord notice of the breach and a reasonable opportunity to cure, and that the tenant vacated the premises within a reasonable time after the breach was not cured. In Village Commons LLC v. Marion County Prosecutors Office, the court held that the MPCO was not constructively evicted because they did not give the landlord notice and a reasonable opportunity to cure before vacating the premises. The court also held that the landlord was entitled to back rent and damages for the remaining lease term.the recording system and to protect innocent purchasers who rely on the record. Under the bona fide purchaser exception, a subsequent purchaser who pays value, without notice of a prior interest, will prevail over the prior interest. The key elements of the exception are payment of value and lack of notice. Notice can be either actual or constructive. Actual notice means the subsequent purchaser knew or had actual knowledge of the prior interest. Constructive notice means the subsequent purchaser should have known of the prior interest if they had conducted a reasonable search of the records. There are two types of recording acts that can affect the priority of interests: race-notice and race statutes. Race-notice statutes protect subsequent purchasers who pay value and have no notice of a prior interest, but only if they record before the prior interest is recorded. Race statutes protect the first person to record, regardless of notice or payment of value. The Shelter Rule is another important principle in recording acts. It provides that a person who takes from a bona fide purchaser will also be protected as a bona fide purchaser, even if they had notice of a prior interest. This rule encourages free transferability of property and protects innocent parties who may have unknowingly received an interest in property with a clouded title.

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Description

Test your knowledge of property law with this quiz! From property rights to covenants and equitable servitudes, learn about the requirements and limitations of property ownership. Explore the concepts of constructive eviction and the recording system, and understand the importance of the bona fide purchaser exception and recording acts. Sharpen your understanding of property law and take this quiz today!