CH 26 - Real Property and Dirt Law

Question 1

Real property is immovable and includes

Answer 1

Land and structures (or anything that’s built to stay or natural like house, barn, windmill, waterfall)

Question 2

Possessory ownership

Answer 2

Gives owner the right to possess the land

Question 3

Fee Simple

Answer 3

Gives owner indefinite right to exclusive possession and use of property

Question 4

Nuisance

Answer 4

The only exception to fee simple; you can’t use your property to interfere with someone’s else’s (starting a hog farm at the border)

Question 5

Life Estate

Answer 5

Possession of property lasting for someone’s specified lifetime (owner gives rights to children but still lives there)

Question 6

Concurrent ownership

Answer 6

Own property with others and share the rights

Question 7

Joint Tenancy

Answer 7

Uncommon, each person owns portion of interest. When one dies, the interest goes to other owners

Question 8

Tenancy in Common

Answer 8

Each person owns undivided interest, but at death it passes to a beneficiary

Question 9

Community Property

Answer 9

Property acquired during marriage , each spouse owns undivided half-interest

Question 10

Leasehold Estate

Answer 10

Owner conveys rights to use property to tenant for certain time

Question 11

Fixed Term Tenancy**

Answer 11

Expressed contract for specific time

Question 12

Periodic Tenancy

Answer 12

No definite duration, but rent paid at certain intervals

Question 13

Tenancy at Will???

Answer 13

Termination of lease without notice; person staying over at your will

Question 14

Tenancy at Sufferance

Answer 14

Tenant wrongfully possesses property past time

Question 15

Easement

Answer 15

Right to use another’s property without owning or taking from it (Own land and can’t get to it, build railroad at neighbor’s permission, and use their property in turn)

Question 16

Profit

Answer 16

Go on one’s land and take something away (take X-mas trees to work on them)

Question 17

Easement or profits goes with land at

Answer 17

Sale of transfer and is NOT given to an individual, but the property

Question 18

License

Answer 18

Revocable right of person to come on to another’s land to hike or take pictures

Question 19

Seller of property has duty to

Answer 19

Disclose all hidden defects that would affect value (Andy Griffith)

Question 20

Deed

Answer 20

Written instrument setting forth interests in real property being transferred, must be signed and delivered

Question 21

General Warranty Deed

Answer 21

Contains number of protections against the problems

Question 22

Special Warranty Deed

Answer 22

Warrants only that seller had good title during ownership and doesn’t guarantee there are no adverse claims

Question 23

First person to _____ deed owns property

Answer 23

File it

Question 24

Adverse Possession

Answer 24

When one person possesses property of another for certain time they can then own it (legalized squatting)

Question 25

Eminent Domain

Answer 25

Gov’t has ultimate ownership rights to take property if they need it due to the 5th amendment but must compensate you

Question 26

Inverse Condemnation

Answer 26

Gov’t takes land without paying

Question 27

Zoning Laws

Answer 27

Manage development and use of land, permissible uses of land