A-1 Property Rights: Private and Government Flashcards
Bundle of Rights
- Possession 2. Exclusion 3. Encumbrance 4. Right to Transfer 5. Use
Personal Property aka “Personalty”: Include such items as Trade fixtures, and furniture.
Chattel
gives tenants- farmers the right to harvest money crops that mature after their departure.
“The Right of Emblements”
35 gallons per minute and will water less than 2 acres.
An exempt domestic well
Where owners adjacent to or abutting bodies of water may use that water unimpeded.
Riparian Rights
First in time is first in right for water usage law in Arizona
Prior appropriation
The measure for water:
Flowing cubic feet per second, non flowing water is acre foot (43560 cu ft)
Non-navigable body of water
Property line extends to the low water line.
Government retains 4 basic rights over property
Police, Eminent Domain, Taxation, Escheat
Eminent Domain =
Condemnation, not confiscation.
Backbone of Zoning, code enforcement and city planning
Police Power
Taxation of Real Estate is the Jurisdiction of:
City and state
Property taxes are levied
Annually
Ad Valorem
Property taxes are based on the value of the property
The county treasurer may put a tax lien up for sale:
In the February following the owner’s notification of delinquency.
The winner of tax lien interest auction receives
Certificate of Purchase
Paid Pro Rata: (in proportion, and often a calculation based on usage amounts)
Special Assessment Taxes
A term describing payments made after a service has been provided.
Payment in arrears
The reversion to the state of property after death, usually involves personal , rather than real property. The state can sell after 5 years (goes to state’s general fund)
Escheat
Often a 20 year bond added to property taxes and used to pay facilities (road, sewer, fire facilities)
CFD (community Facility District)
Real Property
Corporeal- Land, house agree, Barn (tenements); Incorporeal- rights Hereditaments.
Personal Property
Includes tangible objects (beds, chairs, tables) and intangible ones (copyrights, patents, trademarks, relationships)
A master plan adopted by a local planning commission may not be concerned with matters of
Deed restrictions
Urban property is:
City property
Appurtenances
Incorporeal rights in land which are attached to and “run with the land”
Property bordering lakes and oceans
Littoral rights
The process by which an applicant can request deviation from the set of rules a municipality applies to land use and land development, typically a zoning ordinance, building code or municipal code.
Variance
