VT Bar Property Flashcards

A restrictive covenant runs with the land and binds successors if which of the following requirements is met?

Answer: The covenant is in writing, the original parties intended it to run, and there is privity of estate

For a restrictive covenant to run with the land, it must be in writing, the parties must have intended it to run, it must touch and concern the land, and there must be horizontal and vertical privity of estate.

Under Vermont law, a landlord's failure to maintain rental property in a habitable condition gives the tenant which remedy?

Answer: Rent withholding, repair and deduct, termination, or damages under the implied warranty of habitability

Vermont's implied warranty of habitability (9 V.S.A. § 4457) provides tenants with multiple remedies including rent withholding, repair and deduct, lease termination, and damages.

A mortgage in Vermont is which type of instrument?

Answer: A lien theory mortgage where the borrower retains title

Vermont follows the lien theory of mortgages, meaning the mortgagor retains legal title and the mortgage creates only a lien in favor of the lender.

The Rule Against Perpetuities (RAP) invalidates a future interest that might not vest within which time period?

Answer: 21 years after a life in being at creation

The common law RAP voids any interest that might not vest, if at all, within a life in being at the creation of the interest plus 21 years.

In Vermont, which document transfers title to real property from seller to buyer?

Answer: A deed

A deed is the legal instrument that transfers title to real property in Vermont.

Under Vermont's Act 250, large-scale land development requires which type of approval?

Answer: An Act 250 land use permit

Vermont's Act 250 (10 V.S.A. Chapter 151) requires a land use permit for developments meeting certain size thresholds, reviewed under 10 environmental criteria.