CH 2 - Real Property and the Law

Question 1

Land

Answer 1

the Earth’s surface, its subsurface extending downward to the center of the Earth, and the air space above the surface.

Question 2

Subsurface rights

Answer 2

Mineral rights and other natural resources that can be leased or sold separately from surface rights.

Question 3

Air rights

Answer 3

can be sold separately from surface rights and have limitations to enable air travel

Question 4

Water rights

Answer 4

can be held by owners of land adjacent to rivers, lakes, or oceans

Question 5

Real Estate

Answer 5

includes the land as well as all things permanently attached or annexed to the land, both by nature and by humans

Question 6

Real property

Answer 6

the interests, benefits , and rights that are automatically included in the ownership of unimproved land and real estate

Question 7

Bundle of legal rights

Answer 7

the rights of possession, control, enjoyment, exclusion, and disposition

Question 8

Title

Answer 8

the right to ownership of real property and the evidence of ownership provided by a written document, called a deed, by which title is transferred

Question 9

Appurtenance

Answer 9

a right or privilege associated with real property in some way, such as a parking space in a multiunit building, an easement, or water right, and is normally conveyed to the new owner when the property is sold

Question 10

Water rights

Answer 10

This is part of common law and statute. They include Riparian rights and Littoral Rights

Question 11

Riparian rights

Answer 11

Belong to owners of land along a flowing body of water

Question 12

Littoral rights

Answer 12

Belong to owners of land that borders a commercially navigable lake, sea, or ocean.

Question 13

Prior appropriation

Answer 13

Water use, aside from limited domestic use, is controlled by the state rather than a landowner adjacent to the water, to use water, the landowner must demonstrate a beneficial use of the water, such as irrigation for crops

Question 14

Personal Property (chattel) includes:

Answer 14

1. movable items
2. annuals plantings or crops of grains, vegetables, and fruit
3. factory built homes UNLESS THEY ARE PERMENENTLY AFFIXED TO LAND

Question 15

Severance

Answer 15

items of real property that can become personal property

Question 16

Annexation

Answer 16

Items of personal property that can become real property

Question 17

Fixture

Answer 17

personal property that has been affixed to the land or to a building so that by law becomes part of the real property

Question 18

The Legal tests for a fixture include M.A.R.I.A.:

Answer 18

M. Method of annexation
A. Adaptability of the thing for the land’s ordinary use
R. Relationship of the parties
I. Intent in placing the item on the land
A. Agreement of the parties

Question 19

Trade fixtures

Answer 19

property attached to the structure used in the course of business and can be personal property if removed by the tenant and the premises are returned to original condition before the lease expires; or real property, if left behind by the tenant.

Question 20

Accession

Answer 20

The landlord owns any trade fixtures attached to the building if the lease ends

Question 21

Economic characteristics of land:

Answer 21

1. scarcity
2. improvements
3. permanence of the investment
4. area preference.

Question 22

Physical characteristics of land:

Answer 22

1. immobility
2. indestructibility
3. uniqueness