Chapter 7 - Estates and Interests

Question 1

Appurtenance

Answer 1

Rights with legal property. Access, air rights, water rights, mineral/subsurface rights. Almost always sold with property, but buyer’s attorney will order title and survey to check while contract of sale is being drawn.

Question 2

Beneficiary

Answer 2

Person receiving benefits from a certain act.

Question 3

Bundle of Legal Rights

Answer 3

1. Right of possession - physically occupy land and use in any legal way.
2. Right of quiet enjoyment - possess and use without interference from other people or society.
3. Right of disposition - transfer all or part of rights to others
4. Right of exclusion - stop others from entering or using property.
5. Right of control - physically change or alter property.

Question 4

Chattel

Answer 4

Personal property.

Question 5

Emblements

Answer 5

Fructus naturales, fruits of industry. Anything planted or cultivated annually - traditionally real property but can be removed (personal property). The product (like the apples picked from an apple tree) is personal property.

Question 6

Fee on Condition

Answer 6

Grantor puts condition in deed giving them right of reentry if condition isn’t met. Must go to court to reclaim title. Also possible where grantor retains title until condition is met - age, marital status, etc.

Question 7

Fee Simple Estate

Answer 7

Fullest freehold estate - uncertain duration, you own everything. AKA fee title, fee simple absolute.

Question 8

Fixture

Answer 8

Personal property that has been permanently attached to land or improvements - built in bookcases, furnaces, ceiling fans, kitchen appliances. Complicated process of annexation (attachment to land) and severance (removal from land) means it’s best to have everything spelled out in listing agreement.

Question 9

Joint Tenancy

Answer 9

Co-ownership. Each co-owner has equal and undivided interest in property and right of survivorship (all four unities). In NY, survivorship must be explicitly stated in the deed.

Question 10

Land

Answer 10

Legally, the surface of the earth, subsurface to the center of the earth, and the air above the land within reasonable limits to permit air travel.

Question 11

Leasehold Estate

Answer 11

Gives holder a temporary but exclusive right to possession and occupancy without conveying title.

Question 12

Life Estate/Life Estate Pur Autre Vie

Answer 12

Freehold estate lasting as long as a specified person (“measuring life”) lives. Conventionally, the tenant and measuring life are the same. In Life Estate Pur Autre Vie (another life), they are different. EX: measuring life is grantor’s sick relative, tenant/rights are for their caretaker.

Question 13

Littorial Rights

Answer 13

Remember Littoral = Lakes and other stationary bodies of the water as well as those controlled by tides - lakes, oceans, seas.

Question 14

Parcel

Answer 14

Specific pieces of land or lots

Question 15

Partition

Answer 15

Joint tenancy/tenancy in common - individual co-owner can end co-ownership. Co-owners can divide property so each owners a portion in severalty, or one can sue others to divide property or sell all and divide proceeds.

Question 16

Personal Property

Answer 16

Property that is not attached to the land and can be moved.

Question 17

Possessory Interest

Answer 17

Interest giving holder the right to possess and occupy property - either leasehold or freehold estate.

Question 18

Qualified Fee

Answer 18

Grantor puts condition/requirement in deed that terminates estate automatically if condition/requirement isn’t met, and title reverts back too grantor or heirs.

Question 19

Real Property

Answer 19

Land, attachments, and the rights associated with the property - air, surface, subsurface/mineral, water.

Question 20

Right of Survivorship

Answer 20

When one owner dies the other co-owners absorb their rights.

Question 21

Riparian Rights

Answer 21

Remember Riparian = Rivers and other flowing water.

Question 22

Severalty

Answer 22

Ownership on one’s own, severed from interests of others.

Question 23

Tenancy by the Entirety

Answer 23

Co-ownership. Spouses - fifth unity + other four (possession, title, interest, and time). Assumed with married couples unless specified otherwise.

Question 24

Tenancy in Common

Answer 24

Co-ownership. Requires only unity of possession - two or more owners have undivided interest in entire property, but may be in unequal portions. Interest passes to heirs.

Question 25

Trade Fixture

Answer 25

Equipment and other personal property installed by commercial tenants for business purposes. Remains personal property of tenants.

Question 26

Undivided Interest

Answer 26

In co-onwership, each co-owner has right to possess the whole property, not just a portion of it.

Question 27

Unities of Possession, Interest, Time, and Title

Answer 27

One or more is required for all types of co-ownership.

1) unity of possession - same undivided right to possess the shoe property.
2) unity of interest - equal ownership interests
3) unity of time - all acquired interests at same time
4) unity of title - acquired by the same deed/will

Question 28

Trespassing

Answer 28

Invasion of land by person

Question 29

Encroachment

Answer 29

Invasion of land by object

Question 30

Nuisance

Answer 30

Interferes with quiet enjoyment of property - noise, order, light, unsightliness.