Review Slides –Test 1 Chapter # of

Questions

Ch 8– Co-Ownership of Real Estate 8

Ch 9 – Landlord Tenant 9

Ch 10 – Commercial 8

Ch 11 – Multi-Unit 5

Ch 12 – Broker 10

Ch 13 – Purchase Agreement 8

Ch 14 – Transfer of Property 4

Total 200 Points – Test will be based on 50 questions (four points for each correct answer )with 3 free questions. No essay on this one.

53

Chapter 8 – Co-Ownership

Tenancy in Common Joint Tenancy

– Severance of joint tenancy – time, interest, title, possession– Right of survivorship– Examples of what happens at death– Cases what happens if joint tenancy severed

Tenancy by the Entirety Other

– Easements– Air Rights – Life Estates

Community Property – share property acquired during marriage.

Chapter 8 – Co-Ownership

Rents/Expenses Partition Prenuptial Agreements

– No fault laws. Diosdado - $50,000 for infidelity – Lawyer review, time before wedding, full assets disclosed…

Chapter 9 – Landlord Tenant

Lessee’s Remedies– Wrongful Eviction– Constructive Eviction Knudsen v. Lax

sex offender moves in next door.– Damages– Rent Withholding (self-repair)

Antitrust – Rent Control Case – MLS Agreements – Fisher v. City of

Berkeley CA Liquidated Damages Clauses

– Difficult to estimate damages– Reasonable approximation of actual

damages – Berlinger - motorcycle parking

$50/day

Term – For years– At Will– Periodic – At Sufferance

Lessor’s Obligations– Covenant of Quiet Enjoyment– Right to Possession– Warranty of Habitability – Duty to Repair

Lessor’s Remedies– Eviction– Wrongful Abandonment– Action for Rents/Damages

Chapter 9 – Landlord Tenant

MN Law– Written lease– Cold weather notice – Covenants of both – (no

prostitution, etc.)– Late fees– Security deposit – (interest paid)– Required disclosure – Right of entry

Chapter 10 – Commercial

Common Lease Clauses Continued– Right of Entry– Alterations– Utilities– Waiver/Indemnity – Insurance– Assignments– Maintenance – Non-Compete – Term that says

lessee will not rent to a competitor – numerous class examples

Terms– Gross Rent– Net Rent– Triple Net Rent– Percentage Rent Circle K case –

lottery ticket – CPI Adjustment– CAM

Commercial Lease Clauses– Define premises– Term/Termination– Rent– Permitted Use

Chapter 10 – Commercial

ADA– When required – open to public – What required

Reasonable accommodations 7 Eleven Case Quadriplegic movie goer case

Demonstrations– Right to remove demonstrators– First amendment issues

Injunction to Remain Open– Summit Towne Centre v. Shoe Show

Constructive Eviction– Bijon case

Liability for Customer’s Torts– Pichardo v. Diamond, Inc. – car

causes accident after stealing gas.

Chapter 11 – Multi Unit

Ownership– What does multi-unit buyer

own?– Condo v. Coop– Common areas– Air rights

Board Duties/Powers– Business Judgment Rule– Scope of Bylaws– Rules passed pursuant to

bylaws and proper procedures followed.

– Liability of Board for criminal acts (common areas versus individually owned areas)

Definitions– Condominiums– Townhouses– Cooperatives – Time-sharing – Hybrids

Covenants, Conditions, Restrictions (CCRs)

– In deed?– Pets– Restriction on sex offenders Mulligan v.

Panter – Asphalt Roof v. Wood Shakes– Enforcement – fines, liens, foreclosure…– Public policy

Chapter 12 – Broker

Terminology– Broker– Sales person– Listing agent– Dual agency– Selling agent– Exclusive listing

Broker Duties– Fiduciary duty– Duty of disclosure (must disclose

poor financial condition of buyers – 2 cases on this point.

– Warren v. Merril Broker had daughter buy the house with buyer in order to get financing.

Broker’s Duties Continued– Terra Firma Co. v. Morgan Did

not disclose it’s a coal company.– Capiccioni v. Brennan. Wrong

school district. – Fulller v. Croston. Water damage

in home – not disclosed on state required disclosure sheet but buyer found out anyway.

Chapter 12 – Broker

Listing Agreements– Term Listing

Agreement. Ben Farmer case – cancelled contract and agent still sold home.

– Right of Broker to Commission. Antrim, Piper, Wenger, Inc. v. Lowe – seller did all the work to sell farm.

Antitrust – Freeman v. San Diego

Ass’n of Realtors

MN Law– Listing Agreement

Must be in writing Must have a definite expiration date Description of the property Price Compensation Dual agency disclosure Standard MN disclosure Broker License Requirements (Fee, 3

years work under licensed provider or degree, 18, take exam.

– Disclosure Material Facts Not material – AIDs, suicide/accidental

death, paranormal activity, adult home, sex offenders, airport.

Chapter 13 – Purchase Agreement

Terminology– Offer – Acceptance.

Acceptance Sent Via fax – Consider 13.5 oil and gas acceptance

– Counter offer– Rejection – Option contract

Does an Options Contract Stay Open After Revoked?

– Consideration Trengen v. Mongeon – Farm sold to

son

Contract Issues – Two Acceptances– As Is– Liquidated Damages– Statute of Frauds– Parol Evidence Rule.– Contingencies– Required “material” disclosures

Haunted house Murder house Noisy neighbors

– Misrepresentation– Home Warranties

Chapter 14 – Transfer

Terminology– Quickclaim deed

Michaelson v. Michaelson. Property held in a corporation.

– Warranty deed (best protection)– Judicial deed

Undue Influence Adverse Possession

Gift– Delivery of gift– Intent of donor– Acceptance

Recording of Deeds– Race– Notice– Race/Notice– Notice/Race

Title Insurance