Chapter 2 Flashcards
Property Ownership and Interest
What are the rights of an owner of a freehold estate to possession, enjoyment, control, and disposition of real property?
Bundle of Rights
Do all transfers of real property need to be in writing?
Yes, all transfers of ownership of an interest in real property must be in writing.
Define real property
Land and everything permanently attached to land, including all rights and interest in the land.
What does real property consist of?
Lands, tenements, and hereditaments
What is, the surface of the earth, the area above and below the surface, and everything attached naturally (trees, crops) thereto, theoretically to the highest heavens?
Land
What is fructus industriales?
Annual plants that are personal property.
What is fructus naturales?
Perennials plants considered real property unless planted in movable containers.
What are “Tenements”?
Land and all corporeal and incorporeal rights of land?
Tangible (touchable) things such as buildings are what?
Corporeal Rights
Intangible (unable to see or touch) things such as an easement or right of way are what?
Incorporeal Rights
All corporeal and incorporeal attributes of real estate that can be inherited are__________?
Hereditaments
____________ is any right or privileges that moves with the land.
Appurtenance
What are some examples of common appurtenances?
Subsurface, air, and riparian (water) rights
____________ is used to denote the right of a tenant to reenter the property and harvest annual crops after termination of the tenancy.
Emblements
Rights in real property allowing minerals to be taken from the earth are ___________.
Subsurface or Mineral Rights
Permits that allow the use of land for mineral exploration and mining operations are __________.
Mineral Lease
What is a mineral royalty?
Income received from leases of mineral land
Ownership of and the rights to the area above the surface of the earth are ____________.
Air Rights
_________ are appurtenant of an owner of property bordering a flowing body of water.
Riparian Rights
The rights of landowners whose property borders an ocean or a lake.
Littoral Rights
What is the foreshore? Who owns it?
The land between the mean high watermark and low watermark.
The State of NC
What are 4 natural processes that can affect Riparian Boundaries?
- Accretion - Gradual bounds extend
- Reliction - Gradual receding water
- Erosion - Gradual loss of land
- Avulsion - Sudden change in land
What is the right of land to be supported in it’s natural state by adjacent land?
Lateral Support