Easements in General : Land Investing 101

Okay, the secret is out.  I am currently studying for my bar exam.  In the process, I must study real property law and other areas of law that pertain to real estate and may be helpful to a real estate or land investor.  I figured since I was studying anyways, I might as well put each topic one video at a time.  I also started a YouTube channel which can be seen here.

Easements are a non-possessory interest in land.  They allow someone not in possession of the land the have the right to use the land for some purpose.  In other words, easements allow you to use the land possessed by someone else. 

For example, if the owner of X Acre allows the owner of Y Acre to use a path on his property to access another piece of land, this is known as an easement.  There are two types of easements.  The affirmative easement and the negative easement.  Very similar to how they sound, the affirmative easement gives the right to do something on the land or property and the negative easement restricts the land owners from doing something on the property. In other words a negative easement compel a servient tenement to refrain from in engaging in a activity on the property. 

The land that is burdened by the easement (the land that must allow an activity ie like a driveway) is called the servient tenement.  Let me explain further.... 

Follow me on Twitter @NicholasCoriano or follow @homeskape for real estate tips, architecture, tiny homes and land investing advice and feel free to email at Homeskape@gmail.com

Privity of Estate & Privity of Contract : Land Investing 101

Okay, the secret is out.  I am currently studying for my bar exam.  In the process, I must study real property law and other areas of law that pertain to real estate and may be helpful to a real estate or land investor.  I figured since I was studying anyways, I might as well put each topic one video at a time.  I also started a YouTube channel which can be seen here.

Privity of estate is a "mutual or successive relation to the same right in property" such as the relationship between a landlord and tenant. Thus, privity of estate refers to the legal relationship that two parties bear when their estates constitute one estate in law.

The doctrine of privity in the common law of contract provides that a contract cannot confer rights or impose obligations arising under it on any person or agent except the parties to it. The premise is that only parties to contracts should be able to sue to enforce their rights or claim damages as such.

Let me explain...

Follow me on Twitter @NicholasCoriano or follow @homeskape for real estate tips, architecture, tiny homes and land investing advice and feel free to email at Homeskape@gmail.com

Assignments & Subleases : Land Investing 101

Okay, the secret is out.  I am currently studying for my bar exam.  In the process, I must study real property law and other areas of law that pertain to real estate and may be helpful to a real estate or land investor.  I figured since I was studying anyways, I might as well put each topic one video at a time.  I also started a YouTube channel which can be seen here.

Absent an express writing in a lease agreement, a tenant has the right to transfer their interest in the property.  If a tenant transfers their entire interest in the lease - this is called an assignment.  If the tenant transfers only a partial interest in their lease - this is called a sublease.

For example: If a tenant leasing 1000 square feet allows another to rent from him 500 square feet, this is commonly known as a sublease.  Now if the tenant has 9 months left on the lease and gives another person the right to the entire 1000 square feet for the remaining 9 months, this is known as an assignment of the lease.  Let me explain further...

Follow me on Twitter @NicholasCoriano or follow @homeskape for real estate tips, architecture, tiny homes and land investing advice and feel free to email at Homeskape@gmail.com

Tenancy at Sufferance : Real Estate Investing 101

Okay, the secret is out.  I am currently studying for my bar exam.  In the process, I must study real property law and other areas of law that pertain to real estate and may be helpful to a real estate or land investor.  I figured since I was studying anyways, I might as well put each topic one video at a time.  I also started a YouTube channel which can be seen here.

A tenancy at sufferance occurs when a tenant overstays their lease agreement in wrongful possession of the property.  Let me explain....

Follow me on Twitter @NicholasCoriano or follow @homeskape for real estate tips, architecture, tiny homes and land investing advice and feel free to email at Homeskape@gmail.com

Tenancy At Will : Real Estate Investing 101

Okay, the secret is out.  I am currently studying for my bar exam.  In the process, I must study real property law and other areas of law that pertain to real estate and may be helpful to a real estate or land investor.  I figured since I was studying anyways, I might as well put each topic one video at a time.  I also started a YouTube channel which can be seen here.

A tenancy at will is a tenancy where either party has the right to terminate the leasehold agreement.  The creation of a tenancy at will must be expressly created so that both parties have a firm understanding that their lease can be terminated by either party at any time.  If only the landlord has the right to terminate, most courts will read into the lease the right for the tenant to terminate.  If only the tenant has the right to terminate most courts will read the conveyance as a life estate or periodic tenancy.  To be clear, a tenancy at will must expressly state that BOTH parties have the right to terminate the lease at any time throughout the lease.  

To terminate a tenancy at will either party may give notice that the agreement (tenancy at will) has been terminated.  A tenancy at will can also be terminated by operation of law if (1) one party dies (2) one party commits waste (3) the tenant tries to assign their interest (4) landlord transfers their interest in the property or (5) landlord executes a periodic or written agreement/lease.

Let me explain further....

Follow me on Twitter @NicholasCoriano or follow @homeskape for real estate tips, architecture, tiny homes and land investing advice and feel free to email at Homeskape@gmail.com

Periodic Tenancy : Real Estate Investing 101

Okay, the secret is out.  I am currently studying for my bar exam.  In the process, I must study real property law and other areas of law that pertain to real estate and may be helpful to a real estate or land investor.  I figured since I was studying anyways, I might as well put each topic one video at a time.  I also started a YouTube channel which can be seen here.

In this video I explain a periodic tenancy.  A periodic tenancy is a tenancy that continues by successive terms.  For example year to year, month to month, or week to week.  In a periodic tenancy, the start date is certain but the end date is not certain.  Let me explain further.....

Follow me on Twitter @NicholasCoriano or follow @homeskape for real estate tips, architecture, tiny homes and land investing advice and feel free to email at Homeskape@gmail.com

Term For Years : Real Estate Investing 101

Okay, the secret is out.  I am currently studying for my bar exam.  In the process, I must study real property law and other areas of law that pertain to real estate and may be helpful to a real estate or land investor.  I figured since I was studying anyways, I might as well put each topic one video at a time.  I also started a YouTube channel which can be seen here.

A term for years, also known as a tenancy for years have 3 well known elements including:

• Creation: A term for years is generally created in a written lease agreement
• Fixed period of time: A term for years has a fixed period of time, meaning there is an express start date and end date.  This It may be for more or less than a year but they all have a beginning and an end.
• Termination: The termination of a tenancy for years is automatic upon the end date of the lease.

Let me explain a bit further....

Follow me on Twitter @NicholasCoriano or follow @homeskape for real estate tips, architecture, tiny homes and land investing advice and feel free to email at Homeskape@gmail.com

Non-Freehold Estates (Lease Hold Estates) Real Estate Investing 101

Okay, the secret is out.  I am currently studying for my bar exam.  In the process, I must study real property law and other areas of law that pertain to real estate and may be helpful to a real estate or land investor.  I figured since I was studying anyways, I might as well put each topic one video at a time.  I also started a YouTube channel which can be seen here.

A leasehold estate is an interest in land.  The tenant has a present possessory interest in the land and the landlord has a future interest in the property (a reversion).  Certain rights and liabilities are derived by a leasehold estate.  Three major leasehold estates exists (1) tenancies at will (2) periodic tenancies and (3) tenancy for years.

A Tenancy at Will is where there is not set time and the tenant and landlord can cancel the relationship at anytime.

A Tenancy for Years is where the relationship is fixed to a specific time period.  It may be for more or less than a year and terminates upon the expiration of the specified time period. 

A Periodic Tenancy is formed period by period, when one period ends the next begins.  For there to be a periodic tenancy, the start date must be certain but the end date is always not certain.  This happens by implication or when a tenant stays over there past lease.  Notice is required for termination of a periodic tenancy. 

Let me explain....

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Land Investing 101: Concurrent Estates - Joint Tenancy & Tenancy in Common

Okay, the secret is out.  I am currently studying for my bar exam.  In the process, I must study real property law and other areas of law that pertain to real estate and may be helpful to a real estate or land investor.  I figured since I was studying anyways, I might as well put each topic one video at a time.  I also started a YouTube channel which can be seen here.

A Joint Tenancy is created in co-tenants and it's distinguishing feature is the right of survivorship when the other co-tenant takes ownership of the entire tenancy when on joint tenant dies.  In modern law express language is needed to create a joint tenancy.  The creation of a joint tenancy (to acquire the right of survivorship) requires the 4 unites which include:

1. Unity of Time (the interest in joint tenancy must have been conveyed at the same time)
2. Unity of Title (the interest in the joint tenancy my have been conveyed in the same title)
3. Unity of Interest (interest is the same type and duration)
4. Unity of Possession (the interest given must be the same to each party)

The only way to break a joint tenancy is to sue for partition, otherwise the right of survivorship continues and once one co-tenant is deceased in the joint tenancy, the other co-tenant is entitled to the entire property. 

In a Tenancy in Common, each tenant owns their half and is free to transfer, sell, or divest their half of the property by will.  In a Tenancy in Common, there is NO right of survivorship, so when on co-tenant dies, their share of the property is passed through by their will or by inheritance.  The tenancy in common allows each co-tenant the right to possess & enjoy the entire property during the life of their tenancy in common. 

Let me explain a bit further....

Follow me on Twitter @NicholasCoriano and feel free to email at Homeskape@gmail.com

Land Investing 101: Contingent Remainders & Vested Remainders

Okay, the secret is out.  I am currently studying for my bar exam.  In the process, I must study real property law and other areas of law that pertain to real estate and may be helpful to a real estate or land investor.  I figured since I was studying anyways, I might as well put each topic one video at a time.  I also started a YouTube channel which can be seen here.

In this video I explain contingent remainders and vested remainders.  If you recall from our last post, a remainder is created in a transferee that is capable of taking in present possession and enjoyment upon the natural termination of preceding estates created in the same disposition. 

As logically follows, a vested remainder is one that is certain to take place.  Such is the case when an interest follows a life estate.  A contingent remainder is a remainder that is conditioned on a specified event happening.  Let me explain....

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Land Investing 101: Reversions & Remainders

Okay, the secret is out.  I am currently studying for my bar exam.  In the process, I must study real property law and other areas of law that pertain to real estate and may be helpful to a real estate or land investor.  I figured since I was studying anyways, I might as well put each topic one video at a time.  I also started a YouTube channel which can be seen here.

In the last post we discussed future interest in real estate which consist of (1) reversions and (2) remainders.  In this video I go a little more in-depth about the two.  In general, reversion interest are created when a grantor transfers only a part of the interest in the real estate and the property will eventually come back into his or her possession.  In a remainder, the property owner divest himself of the property but the person gaining the current possession will eventually have there interest end and the interest remaining will go to someone else.  Let me explain...

Follow me on Twitter @NicholasCoriano and feel free to email at Homeskape@gmail.com

Land Investing 101: Future Interest in Land & Real Estate

Okay, the secret is out.  I am currently studying for my bar exam.  In the process, I must study real property law and other areas of law that pertain to real estate and may be helpful to a real estate or land investor.  I figured since I was studying anyways, I might as well put each topic one video at a time.  I also started a YouTube channel which can be seen here.

In some cases when land or real estate is transferred there is a future interest in the real estate which is created as well.  For example someone leasing land to another will retain a future interest in the property since the property at some point will be return the to the land owner.  In other words, a future interest does not grant a immediate possession in a property but rather gives the owners a future interest in possession. The two types of future interest are called reversions and remainders.  Let me explain....

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Land Investing 101: Fee Simple Subject To An Executory Interest

Okay, the secret is out.  I am currently studying for my bar exam.  In the process, I must study real property law and other areas of law that pertain to real estate and may be helpful to a real estate or land investor.  I figured since I was studying anyways, I might as well put each topic one video at a time.  I also started a YouTube channel which can be seen here.

This is very simple to other defeasible fees except that the interest in land has duration language that upon the happening of a certain event the interest in the land or real estate is transferred to a third party.  This means that a fee simple subject to an executory interest will automatically divest in  favor of a third person that was not part of the original transfer.  For example, if I convey to my brother "this land for so long as it is used as a farm, and if no longer used as a farm, than to the Red Cross"...this conveyance creates a fee simple subject to an executory interest because upon the happening of a stated event (my brother no longer farming the property) it goes automatically to the Red Cross.  Let me explain further....

Follow me on Twitter @NicholasCoriano and feel free to email at Homeskape@gmail.com

Land Investing 101: Fee Simple Subject to Condition Subsequent

Okay, the secret is out.  I am currently studying for my bar exam.  In the process, I must study real property law and other areas of law that pertain to real estate and may be helpful to a real estate or land investor.  I figured since I was studying anyways, I might as well put each topic one video at a time.  I also started a YouTube channel which can be seen here.

A fee simple subject to a condition subsequent is created when the grantor transfers property and retains the right the re-enter or terminate the interest upon the happening of a certain event.  Upon the happening of this event the interest in the property continues until the grantor exercises her power to terminate the interest.  Unlike a fee simple determinable (which automatically terminates), a fee simple subject to condition subsequent continues until the person holding the right to re-enter exercises that right.  Let me explain....

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Land Investing 101: Fee Simple Determinable

Okay, the secret is out.  I am currently studying for my bar exam.  In the process, I must study real property law and other areas of law that pertain to real estate and may be helpful to a real estate or land investor.  I figured since I was studying anyways, I might as well put each topic one video at a time.  I also started a YouTube channel which can be seen here.

In this video I discuss what a "fee simple determinable" is....in general, a fee simple determinable otherwise called a "determinable fee" is an estate that automatically terminates upon the happening of a certain event.  This is the case when a property or land interest is transferred with a clause that states "if something happens, the property goes to someone else".  Let me explain...

Follow me on Twitter @NicholasCoriano and feel free to email at Homeskape@gmail.com

Land Investing 101: Defeasible Fees

Okay, the secret is out.  I am currently studying for my bar exam.  In the process, I must study real property law and other areas of law that pertain to real estate and may be helpful to a real estate or land investor.  I figured since I was studying anyways, I might as well put each topic one video at a time.  I also started a YouTube channel which can be seen here.

In this video I discuss defeasible fees.  A defeasible fee is a fee simple life estate of potentially infiate duration.  There are three different types of defeasible fees. 

1. Fee Simple Determinable
2. Fee Simple Subject to a Condition Subsequent (right of re-entry) and
3. Fee Simple Subject to an Executory Limitation.

I explain in further detail each one in a separate video.

Follow me on Twitter @NicholasCoriano and feel free to email at Homeskape@gmail.com

Land Investing 101 : Doctrine of Waste

Okay, the secret is out.  I am currently studying for my bar exam.  In the process, I must study real property law and other areas of law that pertain to real estate and may be helpful to a real estate or land investor.  I figured since I was studying anyways, I might as well put each topic one video at a time.  I also started a YouTube channel which can be seen here.

In this video we discuss the "Doctrine of Waste", a legal doctrine that basically states that life tenants (a tenant or someone whom leases the property) must leave the property in the same condition that it was given to him or her.  There are three kinds of waste that the doctrine covers:

• Affirmative (Voluntary) Waste: This is when a tenant does something to the property that lowers the property value. For example, a farmer whom leases the land for farming and dig a 500 foot deep and 500 foot wide hole in the ground.  Or an apartment tenant that breaks the windows on his apartment. 
• Ameliorative Waste: This is when a tenant does something that alters the property and gives the property what would be considered a an added value.  This could be in the form of an improvement to the property or something that would be considered an economic benefit to the property.  The doctrine is not concerned with the value of the waste but rather that the property be returned in the same condition as before the tenant occupied the property. 
• Permissive Waste: This is when there is a lack of action by the tenant.  As a tenant there is a duty to make reasonable repairs or alert the landlord of reasonable repairs that need to be made.  When a tenant fails to make reasonable repairs, they are guilty of permissive waste.

Follow me on Twitter @NicholasCoriano and feel free to email at Homeskape@gmail.com

Land Investing 101 : Life Estates

Okay, the secret is out.  I am currently studying for my bar exam.  In the process, I must study real property law and other areas of law that pertain to real estate and may be helpful to a real estate or land investor.  I figured since I was studying anyways, I might as well put each topic one video at a time.  I also started a YouTube channel which can be seen here.

Follow me on Twitter @NicholasCoriano and feel free to email at Homeskape@gmail.com

Land Investing 101 : Eminent Domain

Okay, the secret is out.  I am currently studying for my bar exam.  In the process, I must study real property law and other areas of law that pertain to real estate and may be helpful to a real estate or land investor.  I figured since I was studying anyways, I might as well put each topic one video at a time.  I also started a YouTube channel which can be seen here.

Follow me on Twitter @NicholasCoriano and feel free to email at Homeskape@gmail.com

Land Investing 101 : Adverse Possession

Okay, the secret is out.  I am currently studying for my bar exam.  In the process, I must study real property law and other areas of law that pertain to real estate and may be helpful to a real estate or land investor.  I figured since I was studying anyways, I might as well put each topic one video at a time.  I also started a YouTube channel which can be seen here.

A property, land or real estate can be acquired by adverse possession.  This happens when a rightful owner of a piece of real estate does not eject someone in possession of the land.  There are 5 requirements for someone to obtain title to a piece of land by adverse possession:

1. The Statutory Period:  Every State has a required period of time that the possessor must be in possession of the property in order to gain title by adverse possession.  This is called the statutory period. 
2. Actual & Exclusive Possession:  The person trying to get the property must be in actual possession of the property and have exclusive possession.  This means that they can not plant a flag and leave to claim the property.  This also means they can not share the property with someone else.
3. Open & Notorious: This mean that in order to get property by adverse possession the person can not be hiding.  They must possess the property in an open manner that would put the owner on alert of they were diligent.
4. Hostile:  This means they must be in possession of property without the owners permission.
5. Continuous:  This means they must have the property in their possession for a continuous period.  It would not be enough to occupy the property during the winters only and leave when the owners return every summers.

To reiterate, in order to aquire title to a property by adverse possession, one must have (1) actual and exclusive possession of the property, (2) he must be in open and notorious possession of the property, (3) he must have the property for the mandatory statutory period, (4) the possession must be continuous throughout the statutory period and (5) it must be hostile to the owners interest.  Let me explain....

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Land Investing 101 : Acquiring Title to Real Property in the USA

Okay, the secret is out.  I am currently studying for my bar exam.  In the process, I must study real property law and other areas of law that pertain to real estate and may be helpful to a real estate or land investor.  I figured since I was studying anyways, I might as well put each topic one video at a time.  I also started a YouTube channel which can be seen here.

Follow me on Twitter @NicholasCoriano and feel free to email at Homeskape@gmail.com

Land Investing 101 : What is Property? Personal Property VS Real Property

Okay, the secret is out.  I am currently studying for my bar exam.  In the process, I must study real property law and other areas of law that pertain to real estate and may be helpful to a real estate or land investor.  I figured since I was studying anyways, I might as well put each topic one video at a time.  I also started a YouTube channel which can be seen here.

Follow me on Twitter @NicholasCoriano and feel free to email at Homeskape@gmail.com

Everything you Need To Know About Wells Including Where to Drill and Where to Locate Your Well

In this video we found Engineer775 (on youtube)... a great youtube page about self sustained living, living off the grid and a bunch of other cool things about building.  In this video he explains all about wells, where to find wells, where to drill them and what to look for on the property to make sure that you are drilling your well in the best possible location.  Enjoy!

-Nick

#TheHomeskapeProject 

479 Mang Road (8.9 Acres) 

Salisbury Center, NY 13365 

Little Falls, Herkimer County

Step by Step Video Guide on How to Drill Your Own Water Well

We really wanted to see if we could get down to the basics when it comes to drilling a well.  In New York, like in most States we must abide by the codes and regulations for drilling a well.  It will most likely turn out that we must hire a contractor to drill the well.  But in the pursuit to understand how wells are dug, I found this great set of videos showing exactly how a well was dug....I had to share this for all my sustainable off-grid living enthusiasts.  Enjoy!

-Nick

#TheHomeskapeProject 

479 Mang Road (8.9 Acres) 

Salisbury Center, NY 13365 

Little Falls, Herkimer County

Step 1f: Do It Yourself Well Drilling Idea

In the hunt to get water on our land, without a stream or pond, we have been researching how to drill a well.  It turns out that bringing in a well company to drill a well is expensive and we are looking for alternative methods to bring water to the land.  In this video, after searching YoutTube, we found a do it yourself kit for drilling a well:

Looking forward to implementing one of these water finding solutions this summer....

-Nick

#TheHomeskapeProject 

479 Mang Road (8.9 Acres) 

Salisbury Center, NY 13365 

Little Falls, Herkimer County