Property Ownership Flashcards
Items of Personal Property.
Chattels
Transfer of property to a lender as security for repaying a debt. (Possession is surrendered to lender.)
Pledge
Real Emblements
Items Growing- uncultivated crops & perennial plantings. Trees & bushes.
Personal Emnlements
Annual cultivated.
Bill of Sale
Given when removable items are sold with the house.
Allodial system
Private ownership of land
Fudal system
Ability to use the land of Lords, but not own the land.
Hypothecate
To pledge specific real/personal property as security for an obligation without surrendering possession. (Real- mortgage or deed)
Lateral support (side)
Neighbor cannot change their property if it pushes, pulls, sags yours.
Subjacent support (below)
Neighbor must support old owners structure while mining, when sale of mineral rights.
Natural Drainage
No daming, no change of flow, reservoir collection to cause damaging drainage. Or unreasonably increase volume/flow as to cause damage.
Air Rights
Space above real property broken and sold horizontally for bridges, condos.
Mineral Rights
Coal/oil etc. Real property until removed +sold making it personal property. Can be sold separately from land.
A path use to cross neighbors yards. Passages for air, light an heat.
Easement
Riparian Right
Right the owner of the Real Property has to use the water from an adjacent waterway. (Reasonable use- not unlimited. Not documented in deed or recorded.)
