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47 Cards in this Set

  • Front
  • Back
Real Property
relates to land and those things that are more or less permanently attached to the land, such as homes, office buildings, and trees.
Personal Property
Refers to all things not permanently attached to land, such as cars, furniture, computers, bank accounts, stocks, and bonds.
Physical Elements of Real Property
Air Space
Mineral Rights
Water Rights
Fixtures
Trees, perennial bushes, grasses that do not require annual cultivation are considered real property
TRUE
Annual crops produced by labor, such as wheat, corn and soybeans, are considered personal property.
TRUE
Annual crops in SC produced by labor, such as wheat, corn and soybeans, are considered personal property.
FALSE
Water Sources
1) Groundwater

2) Surface Water

3) Water that accumulates in a river, stream, or natural lake
Water which accumulates on the surface of the land from rain
Surface water
Water beneath the surface of the land created by underground streams or by rain that soaks through the soil
Groundwater
Groundwater that has been created by rain soaking through the soil is deemed to belong to the owner of the land on which the groundwater is found.
TRUE
A landowner has the right to use the groundwater in any way he/she chooses as land as the landowner does not use or divert the water in such a way as to intentially harm an adjoining property owner.
TRUE
A landowner can use groundwater anyway he/she chooses, even if it hurts adjoining property owners.
FALSE
Riparian Rights
Rights of the owners of lands adjoining streams, rivers, and lakes relating to the water and its use.
Appropriation
In regard to water law, doctrine stating that water belongs to the person who first makes beneficial use of it.
Fixture
Item of personal proeprty that becomes real property because of its attachment to the land or a building.
Possession
Occupation of land evidenced by visible acts such as an enclosure, cultivation, the construction of inprovements, or the occupancy of existing improvements.
Inheritance
Ability to acqyure ownership to real property because of one's kinship to a deceased property owner.
Devise
Conveyance of real property be means of a last will and testament.
Will
Legal documents by which a person disposes of his property.
A will takes effect on the death of the property owner.
TRUE
Conveyance
Act of transferring ownership from one person to another.
Deed
Written document that transfers ownership of real property from one person to another.
Adverse Possession
Method of acquiring ownership to real property by possession for a statutory time period.
Tacking
Combination of possession periods by differenct adverse possessors.
Fee Simple Absolute
Estate of real property with infinite duration and no restrictions on use.
Fee Simple Determinable
Estate of real property with potential infinite duration; subject to a condition the breach of which can result in termination of the estate; automatically expires on the nonoccurance or occurance of a condition.
Fee Sumple on Condition Subsequent
Estate of real property with potential infinite duration; subject to a condition the breach of which can result in the termination of the estate; continues in existence until an action is brought to recover the property.
Life Estate
Estate of real property the duration of which is measured by the life or lives of one or more person.
Waste
Action or nonaction that causes a loss of value to real property.
Estate for Years
Estate of real property the duration of which is for a definite period.
Estate at Will
Estate of real property the duration of which is for an indefinite period; can be terminated at the will of the parties.
Water located within a river, stream, or natural lake is owner by
The state or federal government and not by the individual property owners whose properties adjoin it.
The owner has a right to the
beneficial use of the water.
The right to the benegficial use of the water is governed by
riparian rights and appropriation.
Latin word "ripa"
River
Riparian Rights Doctrine
East of the Mississippi River.
Appropriation Water Rights Doctrine
West of the Mississippi River.
The three elements of valid appropriation
(a) intent to apply water to a beneficial use

(b) an actual diversion of water from a natural source

(c) application of the water to a beneficial use within a reasonable time period.
Water rights under the appropriation theory are
transferable from one property owner to another.
Water rights under the appropriation theory can be transfered
without the transfer of land.
Under the appropriation theory, land can be transfered
without the transfer of water.
Judicial Tests for Fixtures
Attached to real property; the character of the article and its adaptation to the real proerty; the intention of the parties, or if the parties have indicated in writing an intention.
If a person pledges real property as a security for a debt, not only will the property be pledged, but also
any items deemed to be fixtures located on the real property.
The Ex Parte Brown case illustrated that the
failure to identify an item as a fixture may send a person to jail.
Chief Legal rights accorded an owner of real property
Posession, use, and power of disposition.
Methods of Acquiring Ownership to Real Property
Inheritance and Devise,
Gift, Contract and Sale, and Adverse Possession.
The six modern-day estates in real property:
Fee Simple / Fee Simple Absolute

Fee Simple Determinable

Fee Simple on Condition Subsequent

Life Estate

Estate for Years

Estate at Will