module 1

Question 1

define real properties

Answer 1

the study of buying, selling, financing or dealing with land or building for residential or commercial use.

Also known as real estate or realty

Immovable, tangible and intagible property

everything above and belove land includes.

Question 2

how are fixtures included in rp

Answer 2

• personal items - attached to a degree where they become a part of the property - Counts.
• perosnal property attached to the property for the sole purpose of use- Not count.

Question 3

explain crown land

Answer 3

• majority land in CA owned by the Crown
• they have the rights of absolute ownership, meaning they can expropriate a property without compensation.
• when a person dies and does not have next-to-kin person to pass the property, it goes to the crown.

Question 4

different types of rp estates(interests)

Answer 4

1. free hold estate
2. leasehold estate
   3 life estate
   4 easements
   5 mines and minerals rights
   6 water rights

Question 5

freehold estate

Answer 5

• where one person owns the property - w/o interference from other.
• FEE SIMPLE INTEREST:
• main type of ownership.

“fee” comes from an old english word, means- permanant tenancy of freehold estate in land

• can lease, sell, use or rent the property and can dispose the land to others in the will

Question 6

leasehold estate

Answer 6

a lease gives the person a right to possesion on the rp for specific no. of years, in exchange of rent.

Question 7

life estate

Answer 7

• person has right to possess, can use it but cannot sell it.
• in case the life estate owner dies, property goes to fee simple onwer, if he dies, it goes to the benficiary (the remainderman)

Question 8

easements

Answer 8

gives the person a right to use other person property for a specific purpose.

most common:
1 right of way
2 enchroachments

Question 9

right of way

Answer 9

gives a person right to cross other person’s rp.

most common in rural area and cottage country

eg: shared driveway

a person using the land has to have the owner’s permission in written.

easement agreement or right of way agreement, a notice of interest in land - the caveat.

filed on the title of the owner whose rp is being used.

Question 10

enchroachments

Answer 10

one owners rp is resting or hanging on other person’s rp.

eg: fences, driveway, trees.

the owner (p1) whose rp is enchroaching on, has to have the written permission from p2, the caveat- registed on the title of p2.

if the permission is not granted p2 can:
1 demand the enchroachment to be removed.
2 can remove it themselves
3 can ask for compensation

Question 11

enchroachment on public property

Answer 11

• p1 has to have a license from public authority.

nominal annual fees to be paid

Question 12

mineral rights

Answer 12

if the rp owner’s land have mines and minerals, they can deal with it seprately and can make profit of it.

if the mines and mineral are reserved by the crown; the title will mention “excepting all mines and minerals”

Question 13

water rights

Answer 13

1. Sitting water:
   owner does not have the right of the water

can use it.

eg: farmer propert, pond.

2 flowing water:
owner does not have the right: Riparian owner.

Can use it but cannot build a dam, block or distraction for its natural flow.

can also not pollute the water

Question 14

different types of rp ownerships

Answer 14

1 sole ownership
2 joint tenants
3 tenants - in - common

Question 15

sole ownership

Answer 15

• 1 person or corporation owns the rp.

the spouse or the common law partner, has equal rights to the possession of the family house.

the partner also has a Homesteade right, means they can withhold their consent about the dealing of the rp.

Question 16

joint tenants

Answer 16

2 or more people holding the title entirely together.

Equal and undivided interests.

Does have to take the permission of the other tenant before doing anything with their own interests.

has the right of survivorship, meaning that if 1 dies, the rp goes to the other and when the 2nd dies, the property goes to the 2nd person’s beneficiary.

• spouse or common law partner, mostly joint tenants.
• if the owners want to seprate their interst and deal seprately, have to apply to get their tenancy sever, meaning they would be called equal tenants in common.

Question 17

tenants in common

Answer 17

2 or more tenants.

not equal interest.
:. the percentage of each tenant will be mentioned in the Title.

each tenant can deal with their percantage diffrently, w/o the permission of others.

does require permission to sell the rp in whole.

does not have the right to ownership
meaning: no when 1 tenant dies, the properyt will go to his beneficiary instead of the other tenant.

most commercial buildings are bought as tenants in common.

Question 18

what is a title

Answer 18

a legal document containing information about the legal owner of the real property,