VT Bar Property Flashcards

Which type of tenancy is created when a tenant remains in possession after the lease expires without the landlord's consent?

Answer: Tenancy at sufferance

A tenancy at sufferance arises when a tenant wrongfully holds over after the lease term expires without the landlord's permission.

Under Vermont's homestead exemption, a debtor may exempt how much equity in their primary residence from creditors?

Answer: $125,000

Vermont's homestead exemption under 27 V.S.A. § 101 protects $125,000 of equity in a debtor's primary residence from creditors.

A license to use another's land differs from an easement in that a license is which of the following?

Answer: Revocable at will and not an interest in land

A license is a personal, revocable permission to use land; unlike an easement, it creates no property interest and is not binding on subsequent purchasers.

Under the doctrine of equitable conversion, when does a buyer under a land sale contract become the equitable owner?

Answer: At contract execution, before closing

Under equitable conversion, the buyer becomes the equitable owner and the seller holds bare legal title as soon as the land sale contract is signed.

A prescriptive easement is acquired by use that is open, notorious, hostile, and continuous for the adverse possession period. In Vermont, that period is how many years?

Answer: 15 years

Vermont requires 15 years of the requisite use to acquire a prescriptive easement, mirroring the adverse possession period.

Which Vermont law governs the disclosure obligations of residential real estate sellers to buyers?

Answer: Vermont Residential Property Disclosure Act (27 V.S.A. § 1154)

Vermont's Residential Property Disclosure Act (27 V.S.A. § 1154) requires sellers of residential property to disclose known material defects to prospective buyers.