Chapter 8 - Property LAw Flashcards
Property Law
1
Q
Personal Property
A
2
Q
Real Property
A
3
Q
Intellectual Property
A
4
Q
Sentiments Regarding Real Property
A
Every Parcel is Unique
Owner Entitled to Quiet and Peaceful Enjoyment
Property should always be put to its highest and best use
5
Q
Types of Real Property
A
Residential
Commercial
- office building
- shopping center
- apartment complexes
- Vacant Land
6
Q
Types of Interests in Real Property
A
- Fee Simple Absolute
- Leasehold
- Life Estate
- Easement
- By Grant or By Prescription
- License
7
Q
Easement
A
8
Q
Fee Simple Absolute
A
9
Q
Leasehold
A
10
Q
Life Estate
A
11
Q
By Grant or By Prescription
A
12
Q
License
A
permission
13
Q
Profit
A
Mineral Rights, Drilling, Harvesting Corn, Timber rights
14
Q
Future Interest
A
15
Q
Contingent Interest
A
