Property, Estates, and ownership

Question 1

Bundle of rights

Answer 1

Use-for any legal use
Possess 
Transfer-sell or encumber
Encumber-mortgage or put lean against
Enjoyment

Question 2

What does Real property include?

Answer 2

Land and anything permanently attached to the land

Question 3

Riparian rights?

Answer 3

the right to use the water flowing in a river

Question 4

Littoral rights?

Answer 4

the rights of a landowner of land bordering the shore of a lake or ocean; the land is owned to the mean vegetation line

Question 5

test of What is a fixture

Answer 5

Adaptation and agreement of the parties
Intent of the parties
Method of attachment
(AIM)

Question 6

Fructus Naturales

Answer 6

Trees shrubs and flowers; landscaping is real property

Question 7

Fructus Industriales

Answer 7

Crops (Personal property)

Question 8

Personal property

Answer 8

(Chattel) is movable and transferred /sold using a bill of sale

Question 9

what is An estate

Answer 9

the ownership interest or claim a person has in real property

Question 10

Freehold estates:

Answer 10

estates in fee

life estates

Question 11

Less-than-Freehold estates:

Answer 11

Leasehold estates

Question 12

Estates in fee:

Answer 12

Fee simple absolute

Fee simple qualified aka defeasible fee aka conditional

Question 13

Life estates:

Answer 13

Ordinary life estates

Question 14

Examples of Ordinary life estate:

Answer 14

I give mom an estate (life tenant) when she dies goes to my son (the remainder person)

I give life estate to mom, when she passes it goes back to me (I am now have a reversionary interest)

Question 15

example of Pur autre Vie Estates (for the life of another)

Answer 15

I give a life estate to my sister until mom passes then when she does, it goes to my son.

Question 16

what is a legal life estate

Answer 16

Curtsey (husband) Dower (Wife)

Question 17

Leasehold estates

Answer 17

an estate for years (a specific period of time ex: renting a room for a night or signing a 6 month lease)

Periodic estate (period to period ex: month to month, week to week)

Tenancy at will: you can leave at anytime, I can kick you out at any time

Tenancy at sufferance: when someone stays longer than they’re lease

Question 18

right of possession

Answer 18

possession is a personal right owned by the tenant to use and occupy the property under the terms of the lease (personal property)

Question 19

Four unites necessary for a joint tenancy

Answer 19

unity of title
unity of time
unity of interest
Possission
*hint (TTIP)

Question 20

acknowledgement

Answer 20

a formal declaration before a notary republic

Question 21

terminating easements

Answer 21

failure of purpose 
abandonment
merger
expression of release
*hint (FAME)

Question 22

elements of valid deeds

Answer 22

legally competent (grantor)
legal description of the property
consideration
words of conveyance 
named grantee 
signature of the grantor and delivery