Ca Real Estate Principles

Front 1

Bundle of rights

Back 1

Possession. The right to inhabit property.
• Enjoyment. The right to keep others off the property to ensure a
peaceful and quiet space.
• Use. The right to utilize the property within the rules of the law.
• Transfer. The right to dispose property through a legal will, as a
gift or sale of property.
• Encumber. The right to borrow money against the value of a
property to use said property as security for the loan.

Front 2

estate

Back 2

is ownership or interest in real property.

Front 3

Freehold Estates

Back 3

where the landowner was free from the demands of his overlord and
could use the land in any way he desired. A freehold estate may continue for an indefinite
period, or be limited to a specific number of years

Front 4

Fee Simple Estate

Back 4

Fee simple estates allow the property owner to use the property now and for an indefinite
number of years.

Front 5

Fee Simple
Absolute

Back 5

A fee simple estate that holds no conditions or limitations

Front 6

Fee Simple Qualified or Fee Simple Defeasible.

Back 6

This estate is generally transferred through a normal real estate transaction.
Under the provisions
of a fee simple qualified or defeasible estate, the interest in the property can be limited
or taken away in the event of misuse of the property per any agreed upon conditions.

Front 7

Life Estate

Back 7

A life estate is an estate that is granted for a definite period of time.

Front 8

Measuring Life

Back 8

A person’s lifespan upon which the life estate duration
is based. This may be the grantee of the life estate or
a neutral third party.

Front 9

Remainderman

Back 9

The person a life estate reverts to upon the death of the
current owner, not the original owner of the estate.

Front 10

Leasehold Estates

Back 10

A leasehold estate (or less-than-freehold estate) contains fewer bundles of rights than
a freehold estate. People who own this type of estate are called renters and tenants.

Front 11

Estate at Will

Back 11

An estate at will is a lease for an indeterminable amount of time with no express rent
promised for the occupancy

Front 12

Estate at Sufferance

Back 12

An estate at sufferance occurs when a tenant remains on the land after the lease has
run out.

Front 13

Leasehold Estates Include:

Back 13

Estate for years
• Estate from period to period
• Estate at will
• Estate at sufferance

Front 14

Characteristics of a lease

Back 14

• Landlords must sign all written contracts.
• Possession by a tenant is considered his or her acknowledgement
of a lease contract.
• Contracts must be backed by some form of consideration (or a
form of rent).
• Once written, a contract cannot be altered by oral means.

Front 15

Real Property

Back 15

refers to: land; any permanent
fixtures attached to the land such as a house or building; anything appurtenant to the
land such as an easement; or anything attached to the land such as trees.

Front 16

Airspace

Back 16

The airspace above a building to a specific height is considered real property.

Front 17

Minerals

Back 17

Solid minerals contained in the ground are considered real property until taken out of
the ground. Coal is an example.

Front 18

Water Rights

Back 18

Water is considered real property, but it cannot be owned. A property owner cannot
dam surface water to collect it for his or her own use; nor can water be channeled for
the benefit of any one person

Front 19

Doctrine of Correlative User

Back 19

the landowner
may take a reasonable share of the ground water.

Front 20

The different types of water rights include:

Back 20

Littoral:
Surface
Riparian:
Underground:

Front 21

Right of Appropriation:

Back 21

allows the state to allocate non-riparian property
owners to take surplus ground water for their own beneficial use.

Front 22

Permanent Attachments

Back 22

It also
includes those items permanently attached to the ground itself

Front 23

Emblements

Back 23

are growing crops that are considered personal property and are an
exception to the rule of growing crops as real property

Front 24

Appurtenances

Back 24

An appurtenance is anything used with the land for its benefit.

Front 25

Immovable by Law

Back 25

Anything deemed immovable by law is also real property

Front 26

Personal Property
chattel

Back 26

Personal property is considered movable.

Front 27

Five Fixture Tests:

Back 27

Method of attachment
• Adaptability
• Relationship of the parties
• Intention of the person attaching the item
• Agreement between parties

Front 28

Trade fixtures

Back 28

are personal property affixed to real property for x use in a trade, business
or craft.

Front 29

There are three methods to describe land.

Back 29

Lot, block and tract system
• Metes and bounds
• U.S. government section and township survey

Front 30

Plat Map

Back 30

showing the divisions of tracts, blocks within the tracts
and the lots within each block

Front 31

Metes and Bounds

Back 31

measurement system is used when Lot, Block and Tract or
U.S. government section and township survey are not practical, or would not work..

Front 32

Metes

Back 32

most closely describe the distance or measurement between two given points,
while bounds refer to the boundaries, or points, being referenced in the measurement
between landmarks or monuments.

Front 33

Bounds

Back 33

can include both artificial and natural features.

Front 34

Estate at Sufferance

Back 34

An estate at sufferance occurs when a tenant remains on the land after the lease has
run out

Front 35

Real Property

Back 35

refers to: land; any permanent
fixtures attached to the land such as a house or building; anything appurtenant to the
land such as an easement; or anything attached to the land such as trees.

Front 36

Plat Map

Back 36

showing the divisions of tracts, blocks within the tracts
and the lots within each block

Front 37

Metes and Bounds

Back 37

Metes most closely describe the distance or measurement between two given points,
bounds refer to the boundaries, or points, being referenced in the measurement
between landmarks or monuments

Front 38

U.S. Government Section and Township Survey

Back 38

Most of the land in the US is described under the US government section and township
survey

Front 39

Principal meridians

Back 39

form lines running north and south

Front 40

Baselines

Back 40

are the lines that
run east and west

Front 41

California has three principal meridian / baseline pairs

Back 41

• San Bernardino meridian (Southern California)
• Mount Diablo meridian (most of Northern California)
• Humboldt Meridian (Northwestern California)

Front 42

Range and
Township

Back 42

Range lines are every 6 miles east and west of the meridian
• Township lines are every 6 miles north and south of the base line

Front 43

Which is considered the lowest form of estate?

Back 43

Estate of sufferance

Front 44

Trade fixtures are considered

Back 44

Personal Property