Introduction to the Law of Real Property Flashcards
fixture
Item of personal property that becomes real property beacuse of its attrachment to the land or a building
Real property
Property that relates to land and those things that are more or less permanently attached to the land, such as homes, office buildings, and trees.
appropriation
In regard to water law, doctrine stating that water belongs to the person who first makes beneficial use of it.
Possession
Occupation of land evidenced by visible acts such as enclosure, cultivation, the construction of improvements, or the occupancy of existing improvements.
Riparian rights
Rights of the owners of lands adjoining streams, rivers, and lakes relating to the water and its use.
Fee simple
Estate of real property with infinite duration and no restrictions on use.
life estate
Estate of real property the duration of which is measured by the life or lives of one or more persons.
fee simple on condition subsequent
Estate of Real property with potential infinite duration. The ownership of a fee simple on condition subsequent is subject to a condition, the breach of which can result in termination of the estate. A fee simple on condition subsequent continues in existence until an action is brought to recover the property.
fee simple determinable
Estate of real property with potential infinite duration. The ownership of a fee simple determinable is subject to a condition, the breach of which can result in termination of the estate, A fee simple determinable automatically expires on the nonoccurrence or occurrence of a condition.
estate for years
Estate of real property the duration of which is for a definite period.
estate at will
Estate of real property the duration of which is for an indefinite period. An estate at will can be terminated at an will of the parties.
waste
Action or nonaction that cause a loss of value to real property.
inheritance
Ability to acquire ownership to real property because of one’s kinship to a decrease property owner who dies without a will.
devise
Transfer of real property by means of a last will and testament
conveyance
The transfer of title or some or all of the ownership rights to real property from one person to another. A conveyance is usually by an instrument such as a deed, lease, or mortgage.