Chapter 1: Intro To The Law Of Real Property Flashcards
What is Adverse Possession?
Method of acquiring ownership to real property by possession for a statutory time period.
What is Appropriation?
In regard to water law, doctrine stating that water belongs to the person who first makes beneficial use of it.
What is Color of Title?
A form of adverse possession where the original possessionof the property by a prescriber is based upon a written insturment such as a deed or court decree.
What is a Conveyance?
The transfer of title or some or all of the ownership rights to real property from one person to another.
A conveyance is usually by an insturment such as a deed, lease or mortgage.
What is a Deed?
Written document that transfers ownership of real property from one person to another.
What is a Devise?
Transfer of real property by means of a last will and testament.
What is Estate at Will?
Estate of real property the duration of which is for an indefinite period. An estate at will can be terminated at the will of the parties.
What is Estate for Years?
Estate of real property the duration of which is for a definite period.
What is Fee Simple?
Estate of real property with infinite duration and no restrictions on use.
What is Fee Simple Determinable?
Estate of real property with potential infinite duration. The ownership of a fee simple determinable is subject to a condition, the breach of which can result in termination of the estate.
A fee simple determinable automatically expires on the nonoccurence or occurence of a condition.
What is a Fee Simple on Condition Subsequent?
Estate of real property with potential infinite duration.
The ownership of a fee simple on condition subsequent is subject to a condition, the breach of which can result in termination of the estate.
A fee simple on condition subsequent continues in existence until an action is brought to recover the property.
What is a Fixture?
Item of personal property that becomes real property because of its attachment to the land or a building.
What is Inheritance?
Ability to acquire ownership to real property because of one’s kinship to a deceased property owner who dies without a will.
What is a Life Estate?
Estate of real property the duration of which is measured by the life or lives of one or more persons.
What is Possession?
Occupation of land evidenced by visible acts such as enclosure, cultivation, the construction of improvements, or the occupancy of existing improvements.
What is Real Property?
Property that relates to land and those things that are more or less permanently attached to the land, such as homes, office buildings, and trees.
What are Riparian Rights?
Rights of the owners of lands adjoining streams, rivers, and lakes relating to the water and its use.
What is Tacking?
The addition of possession periods by different adverse possessors.
What is Waste?
Action or nonaction that causes a loss of value to real property.
What is a Will?
Legal document by which a person disposesof his or her property. A will takes effect on the death of the maker of the will.
