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Property
1L Property course
| Term | Definition |
|---|---|
| Adverse possession | A trespasser can gain title to land by adverse possession, whereby the true owner fails to eject the adverse possessor within the statute of limitations |
| Adverse possession elements | 1. Open and Notorious-visible 2.Actual- engaging in actives that a typical owner would (e.g gardening etc). 3.. Exclusive-possession in exclusion of the owner 4. Hostile/adverse |
| Tacking | Adverse possession can meet the statutory time period by tacking his possession onto possession by a previous possessor, if the subsequent possessor is in privity with the prior possessor by deed |
| Vested remainder | A vested remainder is a present right to future possession that is (1) given to a presently existing and identified person other than the grantor and (2) is not subject to a condition precedent. |
| Contingent remainder | A contingent remainder is a present right to future possession in favor of a person other than the grantor that is subject to a condition precedent, and/or the grantee (or purchaser) is either unborn ( typically issue) or unascertained (typically heirs |
| Class gift | A class gift refers to a gift given to group of persons other than the grantor. It takes the form of a contingent remainder if any potential takers (aka "grantees" or "purchasers) are unborn or unascertained and/or must meet a condition precedent before t |
| Possibility of reverter | A possibility of reverter is a present right to future possession in favor of the grantor that becomes possessory upon the occurrence or failure to occur of a certain condition embedded in a conveyance to a grantee. |
| Right of entry or power of termination | A right of entry or power of termination is a present right to future possession in favor of the grantor that becomes possessory (1) upon the occurrence or failure to occur of a certain condition embedded in a conveyance to a grantee and (2) upon the gran |
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spremysler
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