What is a fee simple absolute?

A fee simple absolute is the largest present possessory estate. It has potentially infinite duration and is not subject to any condition or future limitation.

What is a fee simple determinable?

A fee simple determinable ends automatically upon the occurrence of a stated event. It uses durational language such as 'so long as,' 'while,' or 'until,' and is followed by a possibility of reverter.

What is the difference between a warranty deed and a quitclaim deed?

A warranty deed gives title with covenants of title, while a quitclaim deed conveys whatever interest the grantor has, if any, with no title covenants.

What is the shelter rule in recording law?

Under the shelter rule, a person who takes from a bona fide purchaser succeeds to that purchaser's recording-law protection, even if the transferee would not independently qualify as a bona fide purchaser.

What is an easement appurtenant?

An easement appurtenant benefits a particular parcel of land, called the dominant estate, and burdens another parcel, called the servient estate. It usually passes automatically with the benefited land.

What is equitable conversion?

Once a specifically enforceable land sale contract is formed, equity treats the buyer as the owner of the real estate and the seller as holding the purchase-money interest, affecting risk of loss in many jurisdictions.

What is the equity of redemption?

The equity of redemption is the mortgagor's right to redeem the property by paying the debt before foreclosure. Any clog on this right is invalid.

What does the Rule Against Perpetuities prohibit?

The Rule Against Perpetuities voids certain future interests that might vest too remotely, meaning later than 21 years after the death of some life in being at the creation of the interest.

What is actual notice in recording law?

Actual notice means a later purchaser actually knew of a prior interest. A purchaser with actual notice cannot qualify as a bona fide purchaser.

What is a taking for public use?

Government may take private property for public use if it pays just compensation. Public use is interpreted broadly, and compensation is usually measured by fair market value.

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Real Property | MBE Subject | Critical Pass Flashcards

Critical Pass IB

Real Property | MBE Subject | Critical Pass Flashcards

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Study 100 Real Property MBE flashcards covering estates, future interests, RAP, co-tenancy, landlord-tenant law, land sale contracts, deeds, recording acts, easements, covenants, mortgages, zoning, and takings.

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Real Property | MBE Subject | Critical Pass Flashcards

100 high-yield Real Property flashcards built for focused bar review. Study estates, future interests, RAP, co-tenancies, leases, land sale contracts, deeds, recording, easements, servitudes, mortgages, and land-use law in one clean study section.

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Real Property | MBE Subject | Critical Pass Flashcards

Real Property | MBE Subject | Critical Pass Flashcards

All 100 Real Property Cards — Quick Reference

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