Property Flashcards

Under the rule against perpetuities, an interest must vest, if at all, within:

Answer: A life in being plus 21 years

The common law Rule Against Perpetuities requires that an interest vest, if at all, within a life in being at the creation of the interest plus 21 years.

A fee simple absolute grants the holder:

Answer: The largest possible ownership interest in property, potentially infinite in duration

A fee simple absolute is the most complete form of property ownership, unlimited in duration, fully transferable, and descendible without limitation.

Under Massachusetts law, adverse possession requires continuous, open, notorious, hostile, and exclusive possession for:

Answer: 20 years

Massachusetts G.L. c. 260, § 21 requires 20 years of adverse possession before the possessor can acquire title to the disputed land.

A covenant running with the land at law requires which of the following for the burden to run to subsequent owners?

Answer: A writing, intent that it run, touch and concern the land, and privity of estate

For the burden of a real covenant to run at law, there must be a writing, intent that the covenant run, the covenant must touch and concern the land, and both horizontal and vertical privity must exist.

A tenancy in common differs from a joint tenancy primarily because:

Answer: Tenants in common have no right of survivorship — each owner's share passes to their heirs or devisees

The key distinction is survivorship: joint tenants have a right of survivorship so the survivor takes the deceased's share, while tenants in common have no survivorship right and their share passes by will or intestacy.

Under the Massachusetts Homestead Act (M.G.L. c. 188), a declared homestead protects a primary residence from creditors up to:

Answer: $500,000

The Massachusetts Homestead Act provides an automatic $125,000 protection and an optional declared homestead protection of up to $500,000 against the forced sale of a primary residence by most creditors.