Law Flashcards
FREAC has 7 members
Appointed by the governor
4 licensed brokers With active licenses for 5 years 1 licensed broker or sales associate with active license for 2 years 2 members never been associate or broker 1 member over 60 years of age
FREC members
Shall be appointed for 4 years
May teach commission course
What is the Doctrine of Prior Appropriation?
A doctrine that gives the state control of water use and the water supply
What is an emblement?
A plant or crop that is considered personal property
The major sources of real estate law are
legislation at federal, state, local level, and
a. court decisions.
What is the primary thrust of federal involvement in real estate law?
Broad regulation of usage
Water Rights
- Riparian:
a. Along a Navigable river, an owner owns to the water’s edge.
b. Along a Non-Navigable stream, the owners own the land to the center of the stream and the government owns the water
Water Rights
- Littoral:
a. Alonglarge navigable lakes or oceans, the owner owns to the average high water mark.
Water Rights
- Littoral Rights:
The body of real property law that defines an owner’s interest when the property abuts a navigable large body of water like an ocean, sea, or lake.
Both riparian and littoral rights are tied to land that is adjacent to water. Generally, the property line ends at the mean high water mark.
Dower refers to
a wife’s life estate interest in her husband’s property.
An illustration of the legal concept of elective share is
A widow who was excluded from a will makes a claim to a portion of the couple’s principal residence.
Estate at Will is when
A one-year lease on a house has expired, but the tenant continues sending monthly rent checks to the owner, and the owner accepts them
