Important Vocab (introduction) Flashcards
Assumpsit
A cause of action or breach of a promise
Conveyance
The legal process of transferring land from the owner to another
When does a conveyance begin?
The day the deed is written NOT when the grantor dies
“Holdout”
When someone buys all the property surrounding an area and the person in the middle area decides to wait so their property will be worth more $
Perambulation
The act of walking over boundaries of a district or piece of land, either for the purpose of determining them or of preserving evidence of them; to establish the bounds of a municipality by walking around it
Personalty
Moveable stuff (i.e. books, chairs, etc.)
Realty
Real property (i.e. house, farm, etc.)
HOA (Homeowners Association)
The rules of an HOA can typically be amended or changed at a meeting of the HOA board
Estate Planning Requires:
(1) Predictability, (2) Flexibility
Numerus Clausus (“closed number”)
A catalog of estates which is finite and closed
Per capita systems
the estate is divided up equally among the members of the generations closet to the intestate with at least one living member (usually children)
The Parentelic System
A system used by some states to determine who is an heir of a deceased person w ho has died intestate
Consanguinity
Counts distance in terms of the number of generations to a common ancestor (one between parent and child, two between grandparent and grandchildren, etc.)
Intestate
The state of dying without a will
Four treatments of “navigable waters”:
(1) any member of the public had the right to travel by vessel on a body of water that is navigable
(2) any member of the pub had the right to fish in a body of water that was navigable
(3) the land beneath navigable water was presumptively owned by the Crown
(4) disputes arising out of incidents on navigable water were decided by the Royal Admiralty Courts rather than the CL courts
