PROPERTY LAW — MA RE SALESPERSON CHEAT SHEET

OWNERSHIP TYPES: QUICK REFERENCE

|---|---|---|---| ---

CO-OWNERSHIP FORMS

|---|---|---|---|---| → Joint Tenancy Rule: Deceased tenant's interest passes to survivors, bypasses will & probate→ Divorce Effect: Tenancy by entirety auto-converts to tenancy in common ---

CONDOMINIUMS & CO-OPS

|---|---|---|

Estate Type	Duration	Key Features	Transferable?
Fee Simple Absolute	Unlimited	All bundle of rights; no conditions; most complete	Yes
Fee Simple Determinable	Until condition violated	Auto-revert on event ("so long as," "until")	Yes, but subject to condition
Fee Simple Conditional Subsequent	Until condition violated	Grantor must sue to enforce re-entry (no auto-revert)	Yes, but subject to condition
Life Estate	Life tenant's life	Reverts to grantor or to named remainderman at death	Limited; non-heritable
Form	Default?	Four Unities Required?	Right of Survivorship?	Creditor Protection
Tenancy in Common	YES	No	No	None
Joint Tenancy	No (needs express language)	YES (time, title, interest, possession)	YES	None
Tenancy by Entirety	No (married couples only)	YES	YES	YES — creditor of one spouse cannot force sale for that spouse's individual debt
Aspect	Condominium	Co-operative
Title Type	Fee simple (real property)	Shares in corporation (personal property)
Transfer Doc	Deed	Stock certificate + proprietary lease
What You Own	Unit + undivided interest in common areas	Right to occupy unit via proprietary lease
Board Control	Limited	Significant (approval of buyers, subletting restrictions)
Required Closing Doc	6(d) Certificate (certifies no unpaid condo fees)	None mandated by law
Fee Priority Lien	Super-priority lien (6 months unpaid fees beats most mortgages)	N/A

→ 6(d) Certificate: Confirms no outstanding condo fees/assessments; required at closing ---

HOMESTEAD ESTATE (M.G.L. Chapter 188)

Protection Levels

• Automatic Homestead: $125,000 (no filing required; all principal residence owners)

• Declaratory Homestead: $500,000 (file one-page doc at Registry of Deeds; recommended)

• Elderly/Disabled (62+): $500,000 with auto-escalation

Protects Against

✓ Credit card debt, medical bills, personal loans, most judgments

Does NOT Protect Against

✗ Property tax lien ✗ Recorded mortgage (must predate homestead for full protection) ✗ Mechanic's lien ✗ Federal/estate tax liens ✗ Pre-filing debts or pre-filing judgments

Key Rules

• One homestead per person (principal residence only)

• Personal protection (owner + spouse + minor children using home as primary residence)

• New filing terminates prior declaration

• Married couples: tenancy by entirety + homestead recommended (entirety ends at divorce)

---

QUICK DECISION TREES

Which Co-Ownership? (deed says nothing)

→ Tenancy in Common (default)

Property passes to survivor or to estate?

• Joint tenancy with survivorship? → Survivor (bypasses will)

• Tenancy in common? → To estate per will/intestacy

Creditor can force sale of spouse's share?

• Tenancy by entirety? → NO

• Tenancy in common or joint tenancy? → YES

Fee simple determinable vs. conditional subsequent?

• "So long as" / "until" + automatic revert? → Determinable

• Revert requires court action? → Conditional Subsequent

---

HIGH-YIELD EXAM FACTS

• Right of survivorship overrides wills in joint tenancy

• 6(d) required at condo closing — protects buyer from unpaid fees super-priority lien

• Homestead is personal, not per-property for creditor protection purposes

• Co-op shares = personal property (not real property license test edge case)

• Tenancy by entirety converts to tenancy in common on divorce (automatic)

• Homestead declaration is optional but strongly recommended for all owners