Property Law Flashcards
Real property (realty)
Land including structures or rights attached to the land
Three features of ownership
Right to exclude all others
Right to pass title
Obligations of ownership (taxes, etx)
Copyright Act of 1978
Permits fair use of material without owner’s consent
Accession
Increase or addition to property
Relative value test
Applied to restore innocent parties to a status as close to their original status as possible
Confusion
Intermingling of goods belonging to different owners
Three elements of a gift
Donative intent (in the present)
Delivery
Acceptance (cannot force a gift)
Three elements of a bailment
Transfer of possession without transfer of title
Bailee’s acceptance
Bailee’s agreement to redeliver to bailor or a third person
Possessory lien
Bailee’s right to retain possession as security
Fee simple estate
Full ownership interest with unconditional right to dispose of it
Life estate
Lasts only until the death of a specified individual
Joint tenancy
Concurrently owned and undivided interest in an estate
Transfers to surviving joint tenant(s) upon death
Same conditions apply to all
Tenancy by entirety
Joint tenancy between husband and wife
Tenancy in common
Equal or unequal shares
Two or more joint tenants who lack survivorship rights
No survivorship
Community property
Property owned/acquired by both spouses during a marriage (each has one-half interest)
Cooperative ownership
Ownership by corporation in which stockholders receive long-term proprietary leases
Condominium ownership
Individual ownership of a unit
Undivided interest in common or public areas
Requirements for a contract of real property
Writing
Essential terms (i.e. price, description)
General warranty deed
Title is free of all encumberances
Special warranty deed
Only against those encumberances and defects in title that might have been created since grantor took title
Title insurance particularly important
Bargain-and-sale deed
Lacks any guarantee from seller about validity of title nor that it is free of encumberances
Quit-claim deed
Tranfers only title the grantor has in the land at the time of transfer
Mechanic’s lien
Granted to anyone who repairs a specific piece of property
Secret lien
Not recorded
Even an inspection of the property would not disclose that work is starting in the future
Adverse possession
Adverse party must have exclusive possession
Possession must be open and obvious
Possession must be without owner’s permission
Must be continuous for a statutory period
Lateral support
Righ tto have land supported by the land adjacent to it
Only applies to land in natural state
Subjacent support
Right to have land supported by earth below it
Fixture tests
Can it be removed without substantial injury to realty?
Is it specially constructed for the building?
Did attaching party intent for it to become part of the building?
Trade fixture
May be attached during tenant’s occupancy with the intention that they be removed when the tenant leaves
Profits a prendre
Right to enter another’s land and take away something of value from its soil
License
Permission to use real property for a particular purpose
Exclusionary zoning
Act of restricting land use either by prohibiting additional building or requiring high standards
Spot zoning
Assigning different use for small area of land than the surrounding area
Hardship variance
Exception to application of zoning ordinance if requirements would result in peculiar and exceptional difficulties on owner
Eminent domain
Right of a government to seize private property for public use
Three types of landlord-tenant estates
Tenancy at will (as long as landlord desires)
Estate for years (definite period)
Periodic tenancy
Constructive eviction
When actions or inactions of a landlord prevent tenant from enjoying substantial or integral part of the premises
When tenant need not pay rent
Tenant has demanded landlord correct a situation
Landlord has not corrected within a reasonable time
Tenant has left premises at the end of the reasonable time