INTERESTS IN REAL PROPERTY

1
INTERESTS IN REAL PROPERTY

• FEE SIMPLE ESTATES
• LIFE ESTATES
• LEASEHOLD ESTATES

2
LIFE ESTATES

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

3
LEASEHOLD ESTATE

• LANDLORD TENANT RELATIONSHIP
• INTERESTS OF LANDLORD AND TENANT

4
LEASES - TYPES

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

5
TENANTS RIGHTS

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

6
TRANSFER OF TENANTS INTEREST

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

7
MORTGAGES AND DEEDS OF TRUST

• NATURE AS LIEN INTEREST
• RIGHTS OF MORTGAGOR AND MORTGAGEE

8
FORECLOSURE

• JUDICIAL AND POWER OF SALE FORECLOSURES
• SALE PROCEEDS DEFICIENCY
• RIGHT OF REDEMPTION
• COMMON LAW EQUITY OF REDEMPTION
• STATUTORY REDEMPTION

9
EASEMENTS

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

10
EASEMENTS CREATION

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