PROPERTY LAW

Question 1

SOVEREIGN ACQUISITION

acquiring property rights

Answer 1

in US legal system, all land was orig owned by a govt

federal, state, and foreign govt originated title to lands in the US by asserting sovereign claims based upon discovery

Question 2

ADVERSE POSSESSION

acquiring property rights

Answer 2

If a person possesses property as if she owned it openly and continuously for a long period of time, she acquires title to the property.

“Squatter’s Rights”

In theory, adverse possessor acquires a new title instead of getting title from the former owner

Question 3

CREATION

acquiring property rights

Answer 3

People can create new personal property - usually owned by the person who creates it.

Even if it requires raw materials from elsewhere such as materials to create a hat.

A person can create intangible property like an idea and become its first owner.

Question 4

CAPTURE

acquiring property rights

Answer 4

Some things exist in nature but aren’t privately owned until captured.

example: wild animals aren’t owned until someone captures them. Similarly, underground water, oil, and gas may not be owned until someone lawfully draws them out from underground.

Question 5

TAKING POSSESSION

acquiring property rights

Answer 5

Even when soeone else already owned personal property, a person can acquire original ownership rights by taking possession.

If the former owner abandons the property, for example, whoever finds and possesses it first becomes its owner, w/o acquiring ownership from the former owner.

Question 6

TRANSFERING PROPERTY RIGHTS

Answer 6

1 / DEED
2 / WILL
3 / MORTGAGE

Question 7

ACQUIRING PROPERTY RIGHTS

Answer 7

1 / SOVEREIGN ACQUISITION
2 / ADVERSE POSSESSION
3 / CREATION
4 / CAPTURE
5 / TAKING POSSESSION

Question 8

RECORDING OWNERSHIP

Answer 8

contacting a county clerk or other public officer who maintains records related to real property

Question 9

REAL PROPERTY

Answer 9

describes land and things that are attached to the land which is why land is sometimes called real estate or realty.

Includes trees, buildings on the land.

Question 10

PERSONAL PROPERTY

Answer 10

all property that isn’t real property.

can be further divided into two categories:
TANGIBLE / CHATTEL
INTANGIBLE

Question 11

CHATTEL

Answer 11

Refers to all kinds of personal property but often refers only to tangible personal property such as nose flutes and toenail clippers as opposed to intangible property.