Chapter 4 - Estates and Interests in Real Property

Question 1

What is an accession?

Answer 1

An acquisition of property by its joining or union with other property

Question 2

What is an access right?

Answer 2

The right of a property owner to have ingress and egress to and from his property

Question 3

What is accretion?

Answer 3

Gradual additions to land by deposits of sand or soil by bordering waters through natural causes

Question 4

What are air rights?

Answer 4

The rights vested by a grant of an estate in real property to all or any portion of the space above the ground

Question 5

What is alienation?

Answer 5

The transferring of real property from one person to another

Question 6

What is alluvion?

Answer 6

That increase of soil on a shore or bank of a river as the result of accretion. This land typically belongs to the owner of the land

Question 7

What is appurtenances?

Answer 7

That which has been added to a property, which becomes an inherent part of the property, and will pass with it when conveyed (e.g., improvements, air rights, gas, oil and mineral rights, and water rights)

Question 8

What is avulsion?

Answer 8

The sudden removal of land of one owner and depositing it on the land of another when a stream changes channel due to an earthquake or flood. Property lines do not change unless in the case of erosion

Question 9

What is a bill of sale?

Answer 9

A written instrument which passes title of personal property from seller to buyer

Question 10

What is a bundle of rights?

Answer 10

Ownership concept in real estate, which embraces the rights of possession, use, enjoyment and disposition

Question 11

What is a chattel?

Answer 11

Personal property which is tangible and movable (ex. a mobile home)

Question 12

What is a chattel mortgage?

Answer 12

A personal property mortgage (ex. a mortgage on a mobile home)

Question 13

What is a conventional life estate?

Answer 13

A life estate created by grant, by reservation or by will

Question 14

What does corporeal mean?

Answer 14

Rights of a visible and tangible nature

Question 15

What is a deed restriction?

Answer 15

A private limitation in a deed, placed by a grantor limiting the use of land by future owners

Question 16

What is eminent domain?

Answer 16

The right of a government to take private property for public use upon the payment of just compensation

Question 17

What is erosion?

Answer 17

The gradual wearing away of land due to natural causes of wind and water

Question 18

What is escheat?

Answer 18

The reverting of property to the state when heirs capable of inheriting are lacking, or the property is abandoned

Question 19

What is an estate?

Answer 19

The degree, quantity, nature, and extent of interest a person has in real property

Question 20

What is a fee conditional?

Answer 20

Type of freehold estate and is a rarely used ownership interested. An estate granted absolutely, but only so long as a specified event occurs or does not occur. Also referred to as a base fee, determinable fee, or a qualified fee estate. Example, Mary Jackson conveys 100 acres of land to become a bird sanctuary

Question 21

What is a fee determinable?

Answer 21

A fee estate which exists only until a specified event does or does not occur. Upon the happening of such event, the fee automatically ends and reverts back to the original grantor, or to his estate

Question 22

What is a fee simple?

Answer 22

An estate in real property, by which the owner has the greatest power over the title which it is possible to have, being an absolute estate; an estate of inheritance belonging to the owner, that he may dispose of, trade or will as he chooses. Fee simple owners also have the right to alienation

Question 23

What is a fixture?

Answer 23

An article of personal property which has been installed in or attached to land of a building thereon, in such a manner that it is now considered to be a part of the real estate

Question 24

What is a freehold estate?

Answer 24

An estate in real property for an indefinite and uncertain time, e.g., a fee simple or a life estate

Question 25

What is a grant?

Answer 25

A transfer of real property

Question 26

What are hereditaments?

Answer 26

Any property, real or personal, tangible or intangible, that may be inherited

Question 27

What are improvements?

Answer 27

Beneficial attachments to raw land that increase its value or improve its usefulness

Question 28

What does incorporeal mean?

Answer 28

Intangible; without physical existence

Question 29

What does indefeasible mean?

Answer 29

Not capable of being annulled or voided

Question 30

What is just compensation?

Answer 30

The fair market value of land that must be paid to the condemnee when the government exercises its power of eminent domain through the act of condemnation

Question 31

What is land?

Answer 31

The surface of the earth, the area above and below the surface, and everything permanently attached thereto

Question 32

What is a leasehold?

Answer 32

An estate or right in real property that involved possession but not ownership

Question 33

What is a less than freehold?

Answer 33

A lease; a leasehold estate. Also called a “non-freehold”

Question 34

What is a life estate?

Answer 34

An estate or interest in real property held for the duration of the life of a certain person. Upon the expiration of that life, the estate will automatically be vested in a remainderman or reversioner

Question 35

What does littoral mean?

Answer 35

Property that borders a large body of water such as a lake, ocean, or sea is said to be littoral property

Question 36

How are mobile homes defined?

Answer 36

A type of chattel typically but can become a fixture if it is attached more permanently. Three-dimensional single-family units, built to be towed on their own chassis, not required to satisfy local building codes

Question 37

What are navigable waters?

Answer 37

Those bodies of water which are capable of being used for public transportation. Controlled by Congress

Question 38

What is personal property?

Answer 38

Any property that is not real property

Question 39

What is police power?

Answer 39

The inherent right of a government to enact such legislation as may be deemed necessary to protect and promote the health, safety and general welfare of the public

Question 40

What is a qualified fee?

Answer 40

An estate in fee simple bound by limitations imposed by the grantor

Question 41

What is real estate?

Answer 41

The physical land at, below and above the earth’s surface with all appurtenances, including structures (such as fences, patios, fixtures, etc). Water rights are considered to be a part of real property.

Question 42

What is reliction?

Answer 42

Gradual recession of water from the usual watermark

Question 43

What is a remainder estate?

Answer 43

An estate created by a single grant simultaneously with another which vests with a third party upon termination of the prior estate, such as a life estate

Question 44

What is a remainderman?

Answer 44

The one in whom an estate vests after termination of a prior estate

Question 45

What is a reservation?

Answer 45

A right retained by a grantor in conveying property

Question 46

What is reversion?

Answer 46

The residue of an estate left to the grantor or his heirs after termination of all prior estates and interests; the right of a lessor to recover possession of leased property upon the termination of the lease, with all subsequent rights to use and enjoy the property

Question 47

What are riparian rights?

Answer 47

The right of a landowner to the use of water on or adjacent to his land

Question 48

What is a security agreement?

Answer 48

A legal document that pledges personal property as security for a debt; chattel mortgage

Question 49

What is a trade fixture?

Answer 49

Articles of personal property annexed to real property, but which are necessary to the carrying on of a trade and are removable by the owner or tenant when he leaves

Question 50

What is unimproved land?

Answer 50

Land upon which no buildings have been constructed; also called “raw land”

Question 51

What is waste?

Answer 51

Willful destruction of any part of the land which would injure or prejudice the landlord’s or remainderman’s reversionary right

Question 52

What are easements?

Answer 52

An easement is a legal right that one has to use the lands of another for a special necessary use

Question 53

What is life estate pur autre vie?

Answer 53

A life estate based upon “the life of another” other than the life tenant, and is inheritable until the measuring life ends.