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12 Cards in this Set
- Front
- Back
- 3rd side (hint)
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What does the acronym M.A.R.I.A stand for? |
Method of attachment Agreement of the parties Relationship of parties Intention of parties Adaptability of the fixture |
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What does land include? |
Soil Rocks Other materials if the earth Reasonable airspace above the earth |
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What are the 2 primary categories in classes of property in Real Estate? |
Real Estate/Real Property Personal Property/Chattel |
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Physical components of real estate include? |
The land Anything affixed to the land;fixture Anything appurtenant to the land Anything which cannot be removed from land by law |
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Easements |
The right to enter or use another’s land as a encumbrance on their title. |
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Examples of liens? |
Trust deed loan Local property taxes |
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The authority of California Legislator to enact laws regulating real estate activity comes from what 4 main constitutional powers? |
Police Power Power of Eminent Domain Power to Tax Escheat |
PETE |
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Police Power |
Equal power to local cities to protect the public good.Basis for laws governing highway construction,maintenance,,rent control,zoning& traffic. |
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Eminent Domain |
Right of government to take private property for public use.Gov must pay owner Fair Market Value (FMV) of Property taken.Process called condemnation. |
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Examples of Eminent Domain |
Provide highways and roads Establish Parks Construct Flood Control Levees Provide land for redevelopment |
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Examples of Police Power |
Highway Construction Maintenance Rent control Zoning Traffic |
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Example of Escheat |
Occurs when Property reverts to state government when someone does with no will or heirs.Onky state gov may acquire property. |
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