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Doctrines of Waste in a Landscape of Waste
Missouri Law Review Volume 72 Issue 4 Fall 2007 Article 8 Fall 2007 Doctrines of Waste in a Landscape of Waste John A. Lovett Follow this and additional works at: https://scholarship.law.missouri.edu/mlr Part of the Law Commons Recommended Citation John A. Lovett, Doctrines of Waste in a Landscape of Waste, 72 MO. L. REV. (2007) Available at: https://scholarship.law.missouri.edu/mlr/vol72/iss4/8 This Conference is brought to you for free and open access by the Law Journals at University of Missouri School of Law Scholarship Repository. It has been accepted for inclusion in Missouri Law Review by an authorized editor of University of Missouri School of Law Scholarship Repository. For more information, please contact [email protected]. Lovett: Lovett: Doctrines of Waste Doctrines of Waste in a Landscape of Waste John A. Lovett* I. INTRODUCTION One of the virtues of William Stoebuck and Dale Whitman's seminal hornbook, The Law of Property, is its extensive treatment of the subject of waste. ' Using half of a chapter, Stoebuck and Whitman introduce their read- ers to one of the great subjects of the common law of property, one that at- 2 3 4 tracted the attention of Coke, Blackstone, Kent, and many others. Their detailed analysis of the subject, which provides a general historical overview, a discussion of the seminal voluntary waste cases, Melms v. Pabst Brewing Co.,5 and Brokaw v. Fairchild,6 and a presentation of the legal and equitable remedies for waste, may strike some readers as old-fashioned. Although one recent law review article has called attention to several early nineteenth century waste cases, 7 relatively little contemporary academic scholarship has addressed waste doctrine in depth. -
Woods to Purchasejbond Issue Edsel Ford. Estate
SAVE, FOOD TO THE NEWS HAS MO~D. , HELP FEED COME SEEUS IN OUR , 'P • NEW BUilDING, UNDER THE WORLD'S. ~Grosse 01 .News THE ELM AT 99 STARVING PEOPLE nte Complet~ News Coverag~ of. All the Pointes KERCHEVAL f VOLUME 7~O. 32 GROSSE POINTE, MICHIGAN. AUGUST a. 19% $2.00 Per Year-5c Per Copy Fully Paid Circulation ETTER STREEtS ARE ON THE WAY! - i;,~...... -------- .. 1 Park Youngster Sets Record.in Soap Box Derby tIIEADLINES. Woods To PurchaseJBond Issue ~ of IN ~.. WEEK I :. Edsel Ford. Estate t 'As CMllpiW ", IN ~1:3~~.~~~ ~.. G1'OIS' PoitU. Newl "-1: . List Shows How M~ney Is to i ...ThllJ'ldaT. AapsL 1 For Par k on Lake 8e Spent; Projects Lis{ed ltNRY J'ORD n &oswers Wlllt- I I d in Full for Readers erl:tWther'a invitation addre&$ed Date for Special E ection at Which Voters Wi! Deci e on to &1tomoblle manufacturers to I!t Bond .Issues to Be Named Next Monday The City of Grosse Pointe at i round table and d!:;eus waYs . has sold i'ts $300,000. bond is. and me&11I to increue production The Woods village ComnusslOners have decld~d, ~o go I. sue, authorized, by the voters .:!FOrd say. noth1Dc dolllC unW through with the purchase of the 43.7 acres of the ~dsel, to inaugurate a general, streP.t .t.rlies in 18 partI plantl which '11 d' thr.ten ~to ahut down p~uetlon Ford estate for a lake front park for the village and they WI repair an paving program, In lord a.re first o!ettJed ••. -
Declarations-Part 1
, ";IV..JULU ;......... '''' -..... iJ 111 ~ ~, CONOOPlIl'IIU!1 DECLARATION GOLDeN RI DGE. CONOOH IN! UHS WDeX Title Section No. Page No. Submis.;on to Condominium CMnersh!p, .............. 1 ........... C1!!finitions •••••• ~~.~ •• ~. ~" •• _ ~ ~ •• ,,~ ••• ~~ ••• ~. ~.# .2. ~ ..... 6.,."" Divi.ion of Property in the Condominium Units and Conveyance of Unit6 ••••.•••...••....• 3 .••.• $ •••• ~. 3 Limited Common Element5 ••••• ~.6 ••• " •••••••• 4" •••••• 4."' ........... 4; Description of Condcninium Unit •• W ...... H •••• ~.H.S ........ "'.H ... '" Condom!n!= ~ap ................................... 6 ............ 5 lnsepl'lt'Jibility of a Condominium Unit. •••• " ......... 7 •• ~ .......... " 5 Repsrate Assersment and Taxation - Noticb' to A5sesBor .............................. 6 •••••••••••• 6 Porm of O\tnership - Title ...... ~ ... ~ •••••••• ~ ••••••. 9 ....... ~.~ •• ~ 6 Non-Pr.rtitionability Bnd Transfer of. ~mrncn element.~~ ......... ~ ... ., •• e ......... * ••••• ~10 .. .,~~~ .... ~ .. " .... 6 Common Ele1lent.5 .............. ~ ............. ~ ......... ,,~ .. 11 .............. ~ .. 6 Use and Occupancy .............................. $ ........................ 12 ..... , " .. .. .. .. .. .... 6 Ea8ements ........................................... 1) .• ~ ..... ., .. ~ .. 7 Termination of Mechanlc l g Lien Rights and Indemnification •••••••••••••....•.. 14 .••••••••••• S C-olden Ridge CondGnliiniurt Association, IfiC ••••• q .. j5 •• ~ ............ "' ... 8 Re8ervation for Access - Maintenance, Repair Bnd Emergenciea~"'""'~~~,.~"' -
Future Interests
Future Interests Interests in the Transferor • Reversion • Possibility of Reverter (NOT a possibility of reversion) • Right of Entry/Power of Termination Interests in the Transferee • Executory Interest • Vested Remainder • Contingent Remainder U N I V E R S I T Y of H O U S T O N Professor Marcilynn A. Burke Copyright©2007 Marcilynn A. Burke All rights reserved. Provided for student use only. D E Present and Future Interests F E Present Interest Future Interest A S Fee Simple Determinable Possibility of Reverter I B (transferor) L Fee Simple Subject to Executory Interest E Executory Limitation (transferee) E Fee Simple Subject to Right of Entry/Power of S Condition Subsequent Termination (transferor) T A T E S U N I V E R S I T Y of H O U S T O N Professor Marcilynn A. Burke Copyright©2007 Marcilynn A. Burke All rights reserved. Provided for student use only. 1 Vested Remainders • If given to an ascertained person AND • Not subject to a condition precedent (other than the natural termination of the preceding estate) • Precedent: (pri-seed-[c]nt) preceding in time or order; contingent upon some event occurring • Note: Not subject to the rule against perpetuities U N I V E R S I T Y of H O U S T O N Professor Marcilynn A. Burke Copyright©2007 Marcilynn A. Burke All rights reserved. Provided for student use only. Types of Vested Remainders 1. Indefeasibly vested remainders • Certain to become possessory in the future • Cannot be divested U N I V E R S I T Y of H O U S T O N Professor Marcilynn A. -
Nysba Fall 2006 | Vol
NYSBA FALL 2006 | VOL. 34 | NO. 2 N.Y. Real Property Law Journal A publication of the Real Property Law Section of the New York State Bar Association LLakeake GGeorgeeorge SSiteite ooff tthehe 22006006 SSummerummer MMeetingeeting Inside How Assignment Restrictions in Leases Apply to Real Property Transfer Tax and Mortgage Tax Traps in Corporate Transactions ........................................................................54 Conveyance of Condominium Units in New York City ..................89 (Joshua Stein) (Yosi (Joe) Benlevi) Nonprimary-Residence Holdover Proceedings ...............................63 RPLS Task Force on Attorney Escrows Current Practice, (Gerald Lebovits and Matthias W. Li) Alternatives and Improvements ...........................................................93 Roommates in New York Law ............................................................73 Model Bank Escrow Deposit Agreement .............................................98 (Gerald Lebovits) Extension of Reduced Real Estate Transfer Tax Rate for Subletting in New York Law ...............................................................79 Real Estate Investment Trusts .............................................................106 (Gerald Lebovits) BERGMAN ON MORTGAGE FORECLOSURES: Scenes from the Summer Meeting ......................................................81 Forgetting Assignment Proves Fatal ..................................................109 (Bruce J. Bergman) realprop-newsl-fall06.indd 1 11/21/2006 9:23:29 AM How Assignment Restrictions -
2005 Annual Report on the New York City Property
The City of New York • Department of Finance • Office of Tax Policy Michael R. Bloomberg • Mayor Martha E. Stark • Commissioner ANNUAL REPORT ON THE NYC REAL PROPERTY TAX Fiscal Year 2005 MICHAEL R. BLOOMBERG MAYOR MARTHA E. STARK COMMISSIONER REPORT PREPARED BY THE OFFICE OF TAX POLICY AUGUST 2005 Table of Contents Fast Facts ………………………………………………………………………. i Highlights ………………………………………………………………………. ii Part I. Current Year Profiles …………………………………………. 1 Market and Assessed Value by Property Type ………………………….. 1 Exempt Value by Property Type ………………………………………... 7 Exemptions by Exemption Type ………………………………………… 13 Part II. Tax Levy ………………………………………………………… 25 Reconciliation of Assessment Roll, Tax Levy and Net Levy Billed ……. 27 Abatements by Property Type and Abatement Type ……………………. 28 Part III. Office Buildings ………………………………………………… 29 Part IV. Home Sales ……………………………………………………… 33 Part V. Cooperative and Condominium Tax Abatement Program ….. 35 Part VI. Delinquencies …………………………………………………… 36 Part VII. Building Permits ………………………………………………... 39 Part VIII. Historical Data ………………………………………………….. 41 Market Value by Tax Class and Borough FY 1993 – 2005 ……………… 41 Assessed Value by Tax Class FY 1991 – 2005 ………………………….. 42 Taxable Billable Assessed Value by Borough FY 1991 – 2005 ………… 43 Tax Levy by Tax Class FY 1991 – 2005 …………………………………. 44 Tax Rates FY 1991 – 2005 ……………………………………………….. 45 Tax Levy and Revenue FY 1991 – 2005 ………………………………….. 46 Unused Operating Margin FY 1991 – 2005 ……………………………… 47 Appendix ………………………………………………………………………… 48 The Real Property Tax -
Property—Future Interest—Partition by Remaindermen Allowed
University of Arkansas at Little Rock Law Review Volume 4 Issue 3 Symposium on Developmental Article 8 Disabilities and the Law 1981 Property—Future Interest—Partition by Remaindermen Allowed Jo Carol Jones Gill Follow this and additional works at: https://lawrepository.ualr.edu/lawreview Part of the Property Law and Real Estate Commons Recommended Citation Jo Carol Jones Gill, Property—Future Interest—Partition by Remaindermen Allowed, 4 U. ARK. LITTLE ROCK L. REV. 543 (1981). Available at: https://lawrepository.ualr.edu/lawreview/vol4/iss3/8 This Note is brought to you for free and open access by Bowen Law Repository: Scholarship & Archives. It has been accepted for inclusion in University of Arkansas at Little Rock Law Review by an authorized editor of Bowen Law Repository: Scholarship & Archives. For more information, please contact [email protected]. NOTES PROPERTY-FUTURE INTERESTS-PARTITION BY REMAINDER- MEN ALLOWED. Henry v. Kennedy, 273 Ark. 383, 619 S.W.2d 632 (1981). J.C. Kennedy died owning 560 acres in Desha County, Arkan- sas. He devised a life estate to his widow with a remainder, in equal shares, to his nephews Wilburn Kennedy and Cecil Kennedy. Wil- burn Kennedy conveyed his undivided one-half remainder interest to E.R. Henry, Jr. and Sterling L. Henry. The Henrys petitioned for partition under the Arkansas partition statute,' as owners of one- half of the remainder interest, against Cecil Kennedy. Because the property was not susceptible to partition in kind, the chancery court ordered a sale of the property, subject to the widow's life estate. On appeal, the Arkansas Court of Appeals reversed, holding that re- maindermen have no right to bring a partition action against other remaindermen when they have no present possessory interest in the property.2 On certiorari, the Arkansas Supreme Court reversed, holding that citizens of Arkansas who have a remainder interest in property may compel partition of their future interests regardless of whether they have any present possessory interest. -
Condominiums and Cooperatives
NYC Living: Coops and Condos HEIBERGER SDK ATTORNEYS AT LAW OFFERED BY: RE CREDITS, LLC PRESENTED BY: JAMIE HEIBERGER, ESQ SDK HEIBERGER, LLP 205 East 42nd St., 6th Floor, New York, NY 10017 475 Port Washington Blvd Port Washington, NY 11050 Direct: 212.532.2067 Mobile: 917.697.5853 1 Overview • Cooperative Apartment • Ownership • Due diligence • Board approval • Subletting • Loan documents in a co-op lendingHEIBERGER transaction • Condominium SDK ATTORNEYS AT LAW • Ownership of a condo unit • Condo waiver of Right of First Refusal • New Development Projects • Townhouses • Characteristics • Engineers Inspection • Legal Aspects • Due Diligence 2 HEIBERGER SDK ATTORNEYS AT LAW Co-Operatives 3 Form of Ownership • A cooperative corporation owns the real estate (land, buildings, and property rights and all interests). • title to the property, as shown on the deed, is in the name of the corporation • The ownership interest in a co-op is evidenced by shares of stock. • Ownership of cooperative stockHEIBERGER is essentially the same as stock in corporationsSDK such as Microsoft,ATTORNEYS Facebook, Yahoo, AT etc. LAW • However, accompanying the shares of stock in a cooperative is a proprietary lease granting the right of the shareholders to reside in a particular apartment. • Leasehold Coops (a Co-Op with a ground lease) 4 Proprietary lease- what does it mean to owners? • Rights and obligations included in proprietary lease and corporation bylaws • Receive proprietary lease • long-term lease or estate for years • Receive stock certificates HEIBERGER SDK ATTORNEYS AT LAW 5 Due Diligence • Financial Statements: • Each shareholder of the corporation is obligated to pay monthly maintenance charges which are aggregated and used to pay all costs and expenses in operating and maintaining the building. -
Florida Sea Grant College Program Use of Future Interests in Land As A
Florida Sea Grant College Program Building 803 McCarty Drive A statewide university program for P O Box 110400 Coastal Research, Education & Extension Gainesville, FL 32611-0400 U.S.A. (352) 392-5870 FAX (352) 392-5113 [email protected] www.flseagrant.org Use of Future Interests in Land as a Sea-Level Rise Adaptation Strategy in Florida By: Thomas Ruppert, Esq.1 In a 2011 paper, James Titus of the U.S. EPA spends considerable time discussing the potential for the use of defeasible estates and future interests in land as potential tools for adaptation to sea-level rise (SLR). Defeasible estates and future interests in land—such as a fee simple determinable and fee simple subject to a condition subsequent—offer many potential strengths as tools for adaptation to SLR. As Titus indicates, for example, a fee simple determinable would allow a developer (D) to grant land to a buyer (B) “for so long as B does not attempt to armor the shoreline.” D thus has a possibility of reverter should B seek to protect B’s property from SLR via use of armoring. In theory this is an excellent idea as it would allow maximum use of land and would only impact B once SLR or erosion reaches a point that construction on the land is at the water-land interface and negatively impacting the coastal system—one of the harms that regulation often seeks to avoid. In reality in Florida, the situation presents more difficulties. Titus’ discussion mostly involves a generalized version of the common law of property. -
Future Interests in Property in Minnesota Everett Rf Aser
University of Minnesota Law School Scholarship Repository Minnesota Law Review 1919 Future Interests in Property in Minnesota Everett rF aser Follow this and additional works at: https://scholarship.law.umn.edu/mlr Part of the Law Commons Recommended Citation Fraser, Everett, "Future Interests in Property in Minnesota" (1919). Minnesota Law Review. 1283. https://scholarship.law.umn.edu/mlr/1283 This Article is brought to you for free and open access by the University of Minnesota Law School. It has been accepted for inclusion in Minnesota Law Review collection by an authorized administrator of the Scholarship Repository. For more information, please contact [email protected]. MINNESOTA LAW REVIEW FUTURE INTERESTS IN PROPERTY IN MINNESOTA "ORIGINALLY the creation of future interests at law was greatly restricted, but now, either by the Statutes of Uses and of Wills, or by modern legislation, or by the gradual action of the courts, all restraints on the creation of future interests, except those arising from remoteness, have been done away. This practically reduces the law restricting the creation of future interests to the Rule against Perpetuities,"' Generally in common law jurisdictions today there is but one rule restricting the crea- tion of future interests, and that rule is uniform in its application to real property and to personal property, to legal and equitable interests therein, to interests created by way of trust, and to powers. In 1830 the New York Revised Statutes went into effect in New York state. The revision had been prepared by a commis- sion appointed for the purpose five years before. It contained a code of property law in which "the revisers undertook to re- write the whole law of future estates in land, uses and trusts .. -
Listing Appointment Checklist
75-hour New York Prelicense Course Syllabus Course Description This Pre-License course focuses on New York Real Estate Law and the everyday practice of Real Estate approved by the New York Real Estate Commission. This course covers all the subjects mandated by New York Real Estate License Law, for those interested in gaining their license. This course is expressly designed for, and geared to, all those potential licensees as defined by the New York Real Estate Commission, for the purpose of sitting for the real estate salesperson's exam. Anyone who assists or desires to assist others in the sale, leasing, management, or exchange of real estate must hold at least a real estate salesperson's license. Course Learning Objectives Unit 1: License Law Overview and Procedures for Licensing 1. State the purpose of the NY licensing law, the Department of State and the Board of Real Estate. 2. Explain the rules for obtaining a license in New York, state the types of licenses and their respective requirements. 3. Explain the New York real estate licensing exam requirements, procedures and policies. Unit 2: License Law Rules and Regulations 1. Define and explain the rules for license issuance, license information changes and branch office management. 2. Define and explain the rules for license renewal, continuing education and reciprocity. 3. Identify at least five Department regulations including handling of kickbacks and proper advertising. Unit 3: Unlicensed Assistants and License Law Violations 1. Name three allowed and three prohibited activities for unlicensed assistants and list at least five licensee activities that violate NY license law. -
NYS TEST STUDY GUIDE Exam
ABSTRACT This is a proprietary study guide created by the Alexander Anderson Center for Real Estate Education. This guide is intended for New Jersey real estate agents who wish to take their New York State real estate license NYS TEST STUDY GUIDE exam. Written by Coura For New Jersey Real Estate Agents Gaye-Sow Edited by Noelle Frieson Copyright © 2020 by the Alexander Anderson Center for Real Estate Education All rights reserved. No part of this document may be reproduced, distributed, or transmitted in any form or by any means without the prior written permission of the publisher. First, Congratulations! You are taking the first steps towards becoming a dual licensed agent in both New Jersey and New York states. To take your New York State exam you must mail in the necessary forms for your New York Real Estate Education Waiver along with your certificate of completion from your original real estate school. The NY forms are located in the back of this book. Please read all of the requirements and directions provided by New York State before sending in the forms. Upon successful completion of the NY required steps you will receive an education waiver which will allow you to take the NY State exam. Please note, you must be a licensed NJ real estate agent before you can request the education waiver for New York State. This packet contains the following: • A study packet for the NYS State Test. We here at the Center for Real Estate Education have compiled out the information from the NYS text book that is NYS specific.