Chapter 2-Real Property & The Law Flashcards Preview

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Flashcards in Chapter 2-Real Property & The Law Deck (34)
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1
Q

What do u call land plus improvements and artificial things like fence, sewer and homes?

A

Real estate

2
Q

How do u define is something is real property?

A

Bundle of legal rights included

3
Q

What are the bundle of legal rights? CPEED

A
Control
Possession
Enjoyment - use it
Exclusion - keep out
Disposition-sell, will, transfer
4
Q

What do u need to prove right of ownership of property including bundle of rights?

A

A title

5
Q

What shows evidence of ownership by a deed

A

A title

6
Q

What is the physical document that shows the owner transfers the title?

A

A deed

7
Q

What do u call parking spaces, etc that are transferred with or “runs with” the land?

A

Appurtenances

8
Q

What rights are granted to land owners along a body of water? Vary state to state, non-navigable water, own land

A

Riparian rights

9
Q

What rights do not give owner the body of water wit a navigable channel?

A

Littoral rights

10
Q

What do u call an increase I land ownership from soil by water?

A

Accretion

11
Q

What do u call decrease in land from forces?

A

Erosion

12
Q

What do u call the sudden decrease in land by act of nature?

A

Avulsion

13
Q

What is the right to use water controlled by state when water is scarce and/or landowner requests a permit and then owns water?

A

Doctrine of prior appropriation

14
Q

What’s personalty?

A

Personal property

15
Q

What is a chattel?

A

Items of personal property

16
Q

Can manufactured housing be personal?

A

Yes even if only moved once, once it is permanently fixed it becomes real property

17
Q

How do u classify trees?

A

Real estate-not personal property

18
Q

How do u classify crops?

A

Personal property-can be claimed after sale

19
Q

How can real property become personal property?

A

Severance-separating from land

20
Q

How can personal property become real property?

A

Annexation-i.e. Bricks to sidewalks

21
Q

How do u transfer real property?

A

By deed

22
Q

How do u transfer personal property?

A

Bill or sale or receipt

23
Q

What do u call personal property attached so long it becomes real property?

A

A fixture

24
Q

What are some examples of fixtures?

A

Heat systems, elevator equipment, cabinets, plumbing

25
Q

How do u know if something is a fixture? MARIA

A
Method of annexation
Adaptability-fridge match cabinets?
Relationship of parties
Intention of person-supposed to be temporary?
Agreement of parties
26
Q

What’s the most important element in determining whether something is a fixture?

A

Intention of person

27
Q

What’s another name for chattel fixture?

A

Trade fixture

28
Q

What do U call something that is removable from property, owned by the tenant, attached for conduction business but just be removed and damage repaired before moving out?

A

A trade fixture or chattel fixture

29
Q

What happens when trade fixtures are not removed from property and they transfer to the landlord?

A

Accession

Like a pizza oven

30
Q

Scarcity, improvements, permanence and area preference are characteristics of what kind of real property?

A

Economic - most impt is area preference. Location location location

31
Q

Immobility, indestructibility and uniqueness are characteristics of what kind of real property?

A

Physical

32
Q

Define immobility?

A

Can’t be changed

33
Q

What is another word for homogeneity?

A

Uniqueness

34
Q

What do u call the 3 areas that make up “land”?

A

Subsurface, surface and air rights