First Half of Term

Question 1

What is Property?

Answer 1

Rights of ownership and interests the owner has over in the object owned.
\+ Right of possession
\+ Enjoyment
\+ Control 
\+ Disposition

Question 2

Chattel Personal (personal property)

Answer 2

Property that is movable

Question 3

Chattel Real (also considered personal property)

Answer 3

Property held for a limited amount of time, e.g, leases, mortgages, contracts to purchase and options.

Question 4

How is ownership transfer?

Answer 4

By a Bill of Sale

Question 5

How is Real Property transferred?

Answer 5

By a Deed

Question 6

What is Real Estate?

Answer 6

The land itself + those permanent improvements attached to the land by man or nature

Question 7

What is Real Property?

Answer 7

Includes the physical property of the real estate, but it extends to include ownership and usage of rights.

Question 8

What are appurtenances?

Answer 8

Something that is installed on a property and it is passed on to the new owners such as trees, shed, and ownership rights.

Question 9

What is land?

Answer 9

Starts at the earth’s center, through the surface and into the space to an indefinite height.

Question 10

What are Tenements?

Answer 10

Things permanently attached to the land, physically or legally and are by law immovable. (man-made or nature)

Question 11

What are Fructus Naturales?

Answer 11

grown naturally and requiring no annual cultivation. Considered real property.

Question 12

What are Fructus Industriales/Emblements?

Answer 12

Crops that are planted and harvested each year. considered personal property.

Question 13

What are improvements?

Answer 13

Product of any human planning or labor that is affixed to the lands with he intend of being permanent

Question 14

What are Riparian Rights?

Answer 14

Concern those properties that border a river or stream

Question 15

What are navigable waters?

Answer 15

Rivers and Oceans used for commercial shipping and are identifies on government survey maps.

Question 16

What are Littoral Rights?

Answer 16

Concerns properties which border large navigable, lakes, oceans or seas and involve the use and enjoyment of the shore.

Question 17

What are mineral rights?

Answer 17

The land owner’s rights to such things as coal, oil, gas and ores.

Question 18

What is the right of lateral support?

Answer 18

The natural contour of adjoining land must not be damaged by efforts to extract minerals from below the surface.

Question 19

What is the law of capture?

Answer 19

This law allows a well drilled on one property to extract oil and gas from under adjoining properties. All landowners have equal rights to drill for oil and gas.