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33 Cards in this Set

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unimproved surface, dirt - owned to the core of the earth and the air above. Own anything on that parcel of land (trees, rocks, etc)
something that has been built on and is permanently attached to the land, a house is an improvement, landscaping, driveways etc.
Real Property
means land, natural and artificial improvemenmts and all the rights, benefits and interest that go with the land
Personal Property
is anything moveable that is not permently attached to the land.

In a case with a farmer and his crops, if his farm is sold before his crops are ready, he is entitled to those crops after the sales as they are seen as 'persona property'
Anything that was personal property that becomes attached to real estate
Legal Tests Commonly use to determine personal vs. fixtures
- adaptation of an item to the real esate (e.g. finshed bar in basement)
- existence of an agreement (made in advance between 2 parties)
- method of attachment (bookcase w/single screw to hold in place vs. built with moldings and attched to the wall)
- relationship of the parties (trade fixtures, jewerly case, pizza ovens)
estate or estate in land
means the extent and type of interest someone has in a piece of land
Bundle or Rights
includes the rights to use and occupy, mine, farm, develop the property, the rights to will, give and restrict others from using the property, and the right not to do any of these things with the property
Free Hold Estates
essential characteristics that include ownership of real estate and that it lasts for indefinite or indetermined period of time.
Fee Simple
(fee simple absolute or indefeasible fee)
the most complete form of ownership without restrictions on rights to ownership, except for public and private restrictions (zoning or deed restrictions)
Fee simple qualified esate
(fee simple defeasible estate)
this fee simple estate has some limitations on it. The three types of qualified fee estates are:
- fee simple condition precedent
- fee simple condiditon subsequent
- fee simple determinable
Fee Simple Condition Precedent
ownership commonly referred to as title, won't pass from one to another until a particular condition is met. e.g someone donates property to the county for use as a park w/stipulatioin that nature trails must be built before title passes
Fee Simple Condition Subsequent
this is when the owner can reclaim property if some condition wasn't met after title passes. e.g. the county that received donated property for the park w/nature trails built a building instead of the park. The original owner has the right to reclaim the land, this is also referred to as 'right of reentry'
Fee Simple Determinable
this is when the title remains with the new owner as long as the terms of the ownership are being met. If the new owner is no longer using the property for the stated intent, it reverts back to the original owner that donated it without having to take any action. e.g. the park and trails are no longer being used.
Life Estates
grants possession and limited ownership to a property for a persons life or the spouses life. Main difference between free estates and life estates is that the FREE estate has NO limites and the LIFE estate HAS limits
Ordinary Life Estate
is a life estate in which the length of time of the estate interest is the lifetime of the person receiving the life estate. e.g. a man provides an ordinary life estate for his 2nd wife but wants to provide for his children from his first marriage, in this case the husband creates and ordinary life estate for the 2nd wife to live the remainder of her life and the children named as 'remaindermen' who are entitled to the estate once the stepmom dies
Life Estate Pur Autre Vie
(for another life)
The estate in this case is for the lifetime of a third party. e.g. a man owns a 2nd home and his sister has a chronically ill child, the man can provide a 'life estate pur autre vie' for his sister and the sister lives in the house with the son until the son dies. at that time the estate goes back to the man or his heirs (if deceased)
Legal Life Estates
life estates created by state law
- community property, right of a spouse, entitling him or her to one half interest in real property acquired during the marriage
- dower (in MA) right of surving spouse to a portion of real property that is owned by spouse after he/she dies, even if it's willed to someone else.
Homestead - grants the family home a certain level of protection from creditioins during the owners lifetime
Leased Hold Estates
provide some rights to tenants, such as a right to exclusive possession and use while the owner reatins some rights, such as ownership, right to collent rent, right to sell
- Leasehold interest or estate(tenants interest in real property)
- Leased fee interest or estate (landlords interest in real property)
Eminent Domain
is the right of the government to acquire privaely owned real estate for public use, CONDEMNATION is the actual process for taking property
Police Power
each state has the right to enact legislaion to preserve order, protect the public health and safety and promote general walfare of it's citizens
is a charge on real estae to raise funds to meet the publics need of a government
when an owner dies, has no will and no heirs - property reverts to the state. INSTATE is when someone dies with a will
is a claim, charge or liability that attaches to real estate. Emcumbrances may be divided into two classifications:
- liens (usually monetary charges)
- encumbrance (restriction, easememts, licenses and encrochements that affect the condition or use of the property)
is a charge against property that provides security for a debt or an obligatioin of the property owner, e.g. real estate tax, mortgage, judgements, mechanics all represent possible liens against a land owner
Deed Restrictions
restrictions that affect the use of the land and are placed in the deed, and they RUN WITH THE LAND, all future owners must abide by the restrictions
is the right to use the land of another for a particular purpose, usually a WRITTEN agreement betweens parties
Appurtemnant Easement
is attached to the ownership of one parcel of land and allows THIS owner the use of a neighbors land. e.g. a driveway - and RUNS WITH THE LAND
Easement in Gross
is an individual or company interest in or right to use someone elses land. e.g. rail way, pipeline. DOES NOT RUN WITH THE LAND
(Covenants, conditions & restrictions)
are private ageements that affect the use of the land. they may be enforced by the owners and included in the sellers deed to the buyer. Typically developers do this with subdivisions.
when a building, fence or driveway illegally extends beyond the land of it's owner or legal buidling lines
Accretion, Erosion & Avulsion
the natural affect of land amount
- accretion (INCREASE from water depositing soil)
- erosion (slow DECREASE from wind, water flow)
- avulsion (sudden REMOVAL of land by earthquake, mudslide etc)
Doctrine of Prior Appropriation
in states where water is scarce, ownership and use of water is controlled by the state