Tip: Use your browser's print function (Ctrl+P / Cmd+P) to save as PDF for offline study.
PROPERTY LAW — MA RE SALESPERSON CHEAT SHEET
OWNERSHIP TYPES: QUICK REFERENCE
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
---
CO-OWNERSHIP FORMS
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
→ 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
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