Deck 1 Flashcards
Appurtenances
“property rights or items that are permanent and are passed along with the sale of the property.”
Appurtenances refer to additions to a house that have become permanent, such as improvements or rights that become a permanent part of the entity at large. These additions are considered part of the property transaction. They are often seen as an added bonus when purchasing a new house. Therefore, they are recognized as a part of the larger entity. They cannot be temporary items or pieces of equipment that belong to an individual.
Personal property is transferred by…
Bill of sale
Chattel
Personal property
Are trade fixtures real or personal property?
Always personal
Easements
Right to use another land as an encumbrance on their title… dominant benefits.. servient is burdened
Prescriptive easement
Right is gained thru use
Easement in gross
Belongs to individual… not land (utility company)
General lien
Judgement, income tax filed against individual that applies to all real estate owned by them
Fee estates
Inheritance or perpetual estates
Estate for years vs period to period
Estate for years has a fixed term and termination date
A copy of signed lease must be given o lessee within…
15 days
What is “PETE”?
Government powers
Police power
Power of eminent domain
Power to tax
Escheat
Three baseline and meridians systems in CA
Humboldt - north
Mt Diablo - central
San Bernardino - south
Accession vs alluvium vs avulsion
Accession - adds land
Alluvium - boundary changed due to relocation of a river
Avulsion - increase or decrease solid due to water
How many acres in a section?
640
Zoning cannot apply to…
existing structures… only those to be built
Quiet title
Court action to clear flounder on a property’s title
Lead based paint disclosures for all proprieties built prior to
1978
Agency by Estoppel
Principal does not stop an agent from going above and beyond their duty… a supposed relationship
When a broker uses client funds for personal purposes
Conversion
Subrogation
Substituting of one person or group by another
Township
Note that a township has 36 square miles, and each section is one square mile. One square mile equates to 640 acres.
Deed vs Title
A deed is evidence of transferred ownership…
Deed is a physical document… a title is a concept of their ownership.
Deed - book
Title - title
Title gives legal right to buy or sell a property
Deed - description of property, name is seller, name of buyer
Agency relationship - acronym
“OLD CAR”
OBEDIENCE
LOYALTY
DISCLOSURE
CONFIDENTIALITY
ACCOUNTING
REASONABLE CARE
Bundle of Rights
“DEEPC”
RIGHT OF…
Disposition
Enjoyment
Exclusion
Possession
Control
How many acres in a township?
23,040 acres
Types of Freehold estates
Ownership for undefined amount of time
1. Fee simple absolute - greatest interest in ownership
2. Fee simple defeasible - grantor places condition for next owner (determinable - conditions,
3. Life estate - time limitation (grantee cannot leave at will)
1031 exchange
Like for like… investment only
45 day rule - sale property and other property designated
180 day rule - sale of old and new property
General warranty vs special warranty
General is full warranty.. special is limited to only while they owned it
Habendum clause
Property rights transferred —
“Have and to hold”
Subordination clause
Section that states repayment will take priority over others
Unruh Act
Title: Unruh Civil Rights Act 1959
Jurisdiction: California
Prohibits: Discrimination
Based on: Sex, race, color, religion, ancestry, national origin, disability, medical condition, genetic information, marital status, or sexual orientation
Rumford Act
Rumford Fair Housing Act
Jurisdiction: California
Enacted: 1963
Purpose: Fair housing and anti-discrimination
1968 Civil Rights Act
Title XIII
The Civil Rights Act of 1968, also known as the Fair Housing Act, is a pivotal piece of federal legislation enacted in 1968 that seeks to combat housing discrimination in the United States. This landmark law prohibits housing-related discrimination based on race, color, religion, sex, national origin, disability, and familial status. Its primary objective is to ensure equal housing opportunities for all individuals, regardless of their background, and to eliminate discriminatory practices in real estate transactions. The Act serves as a cornerstone of fair housing laws, complementing state-level regulations like the Unruh and Rumford Acts in California, and it plays a crucial role in promoting housing equality and preventing discrimination in the housing market.
Civil rights act of 1964
Voter rights
The Civil Rights Act of 1964 is a landmark piece of U.S. federal legislation enacted in 1964. This historic law is a cornerstone of civil rights legislation and is instrumental in combating discrimination based on race, color, religion, sex, or national origin. It prohibits unequal treatment in various areas, including public accommodations, employment, and federally funded programs. The Act’s Title VII specifically addresses employment discrimination, making it illegal to discriminate on the basis of the mentioned factors in workplaces. The Civil Rights Act of 1964 is a pivotal part of the civil rights movement and has had a profound and lasting impact on promoting equality and civil rights in the United States.
What requires real estate to be in writing?
Statute of Frauds
Surrender
Mutual cancellation of a lease agreement
Allodial system
System used by USA
The allodial system, also known as “allodial title” or “allodial land tenure,” is a property ownership system in which an individual or entity holds absolute, unqualified ownership of land or real estate. Under the allodial system, property owners have full and complete rights to their land, including the right to use, transfer, and exclude others from it, without any obligation to a higher authority, such as a feudal lord or the government. This is in contrast to many modern property systems, where land ownership is often subject to various forms of taxation and regulation by the government. The allodial system is relatively rare in contemporary legal and property systems, and most land ownership today involves some level of government oversight and taxation.
