Flashcards
Four Land Use Districts
Urban (4.7%)
Agriculture (47%)
Rural (0.2%)
Conservation (48%)
UAR - counties administered
C - State Department of Land and Natural Resources
Who administers river, agriculture, and rural land districts?
The Counties
Who administers conservation districts?
State Department of Land and Natural Resources
Dower
Widow’s interest in husband’s estate pre-1977. 1/3 portion of the real property.
Wife to husband. Husband needs wife to sign off on sale.
Curtesy
The right that husband may have in wife’s estate after her death. 1/3 portion of the real property.
Husband to wife. Wife didn’t need his sign off.
Appurtenance
Something added to a property which becomes inherent part of property, and will pass with it when conveyed; includes improvements
Accretion
Gradual additions to land, by deposits of sand or soil, by bordering waters through natural causes
-landowners think they should own the new land but state says otherwise
CC&Rs
Covenants, conditions and restrictions
Chattel
Personally property that is tangible and moveable; personalty
Adverse possession
The means of acquiring a title to land against the real owner, where possession has been actual, open, hostile, exclusive, continuous, and under claim of right for the statutory period of 20 years.
Joint tenancy
Ownership by two or more persons
-rights of survivorship
-equal interests
-each possesses an undivided part of the whole
-can sell interest with or without consent of others (then tenancy in common)
-must be expressly stated
-no probate
Tenancy in common
Two or more persons who hold undivided interest
-no right of survivorship (goes to heirs)
-doesn’t have to be equal
-but still entitled to undivided possession of property regardless of size of his share
Accession
Acquisitions of property by its joining with other property
Avulsion
Sudden removal of land of one owner and depositing on the land of another when a stream changes its channel
-does not result in immediate change of boundary line
Bundle of Rights
Ownership concept that embraces the right of possession, use, enjoyment, and disposition
Fee Simple?
Covenant
Agreement written into deeds and other instruments which promises or guarantees that something shall or shall not be done; an agreement stipulating certain uses or non/uses of property
Dominant estate
An estate attached to and benefiting from the servient estate; an easement runs over the servient estate and serves the dominant estate; also called dominant tenement
Easement
A right, privilege or interest which one part has in the land of another
Easement Appurtenant
An easement that is attached to and runs with the land, it cannot exist apart from the particular land to which it is attached.
Easement in Gross
An easement which encumbers the land, and is usually given to a quasi-public corporation, such as electric or phone company.
Encroachment
Building or fixture that intrudes partly or wholly upon the property of another
Fee Conditional
An estate granted absolutely but only so long as a specified event occurs or does not occur.
Estate with conditions
Fee Simple
An estate in real property, by which the owner has the greatest power over the title. He may dispose of, trade, or will, as he chooses.
-largest bundle of ownership rights
Limitations:
1. Right of eminent domain
2. Escheat
3. Taxation
4. Police powder to regulate land use
Fee Tail
Estate that is inheritable by particular lineal heirs. Upon lack of such heirs the estate reverts back to grantor or his heirs.
-not recognized in Hawaii
Freehold
Estate in real property for an indefinite and uncertain time, such as fee simple or life estate
Opposed to leasehold
-fee simple
-fee defeasible
-fee tail
-life estate
Probate
An action of the court to determine the validity and legality of a last will and testament
Reciprocal Beneficiaries
By following strict rules, people who couldn’t otherwise marry are given certain rights of those who can
Remainderman
The one in whom an estate vests after termination of a prior estate
Riparian Rights
The right of a landowner to the use of water on or adjacent to his land.
You cannot dam or stop the flow, or change direction of a river.
-for navigable and non-navigable streams and rivers
-riparian owner are the owners of the rights
Servient Estate
An estate of land over which an easement exists in favor of the dominant estate; servient tenement.
Severalty
Sole or independent ownership
Tenancy by the Entirety
-husband and wife
-equal right to possession
-upon death of one it goes to the other
-right of survivorship ?
General Partnership
-two or more to carry on a business for profit
-each is liable for all debts
-heirs of deceased partner have no dower or curtesy interest in property
-“Hui”
Limited Partnership
-two or more
-one or more general partners and one or more limited partners
-limited partners not liable
-general partners control
Land Trust
Method of holding or acquiring real estate. The legal title is held by a trustee. Owner is the beneficiary. Keeps it secret.
-often called a “Title Holding Device”
Joint Venture
-two or more
-similar to a partnership
-for specific project
Encumberance
-lien or easements, mortgages
-affects or limits the title or use
Prescription
An easement or title obtained by possession for a prescribed period; prescriptive rights
-similar to acquiring a title by adverse possession
Eminent Domain (Condemnation)
-land is needed for public use
-must be needed for good of the public
-owner must receive just compensation
Life Estate
A gives to B
B dies, it goes back to A, the grantor (reversionary) or third party C (remainderman)
Can use during their life
-created by deed or will
Fee Simple Defeasible
-has conditions
1. Fee simple condition subsequent
2. Fee simple determinable
Fee Simple Conditional Subsequent
Recognized by “but if” or “provided that”
- if there is ever alcoholic beverages sold on property for example, title may revert back to the grantor
Fee Simple Determinable
Recognized by “until” or “as long as”
As long as my son doesn’t marry.
Kuleana
Land
Hawaiian word for responsibility
Improvements
All real estate except land
Includes buildings, fixtures, fences, curbs, sewers, etc
Tenements
Land as well as rights (tangible and intangible) that may arise from owning the land.
Passes with land
Hereditaments
Every sort of inheritable property, whether corporeal, incorporeal, real, personal, or mixed
Corporeal
That which pertains to a right or rights of a visible and tangible nature
Incorporeal
Intangible; without physical existence
Personal Property
Moveable items
-personalty
-chattel
Financed by way of security agreement and financing statement (chattel mortgage)
-bill of sale
Real Property
Earth’s surface and everything attached
-financed by mortgage
-conveyed by deed or fee simple, or assignment of lease if leasehold
Math formula
Sales price x percentage commission = commission paid
Math: Net to Seller
Sales price x percent to seller = net dollars to seller
100% is gross sales
100% - commission = net % to owner/seller
Math: Profit/Loss on Sale
Investment x percent of profit = dollars in profit
Investment x percent of loss = dollars lost
Math: Property Tax
Assessed value x tax rate = annual taxes
Math: Simple Interest
Loan balance x rate of interest = annual interest
Escheat
Right of State after 15 years the claim abandoned land (no will or next of kin)
