Property Ownership & Interests

Question 1

Bundle of Rights

Answer 1

The right to possession of the property. The right of quiet enjoyment. The right to exclude others. The right to dispose of property by gift, by sale, or by will. The right to control the use of the property and profits within the limits of the law.

Question 2

D.E.E.P.C

Answer 2

Disposition, Enjoyment, Exclusivity, Possession, & Control

Question 3

Annuals or Perennials

Answer 3

Annuals (fructus industriales) are considered personal property. - fruits of the soil
Perennials (fructus naturales) are real. - unless in planter - fruits of the industry

Question 4

Tenements

Answer 4

Includes everything in definition of land.

Question 5

Corporeal rights

Answer 5

Tangible things, can be touched or seen. (Ie. Buildings)

Question 6

Incorporeal rights

Answer 6

Rights that are intangible. (Ie. rights in the land of another)

Question 7

Profit à prendre or profit

Answer 7

The right to take soils, minerals, timber, fish & game.

Question 8

Hereditaments

Answer 8

Everything in the term land and everything the term tenements that are capable of being inherited.

Question 9

Emblements

Answer 9

Fruits of the industry, annuals, or plants in a planter. - term is used often to denote the right of a tenant to reenter a property and harvest the emblements after termination of the tenancy.
(Ie. Crops, corn, wheat, melons, & soybeans)

Question 10

Appurtenance

Answer 10

Runs with the land, anything transferred with the deed.

Ie. Subsurface rights, riparian (water) rights, air rights, lateral and subjacent support

Question 11

Mineral lease

Answer 11

Permits the use of land for mineral exploration and mining operations.
Creates a mineral royalty.

Question 12

Subsurface rights

Answer 12

Rights to harvest minerals or resources below the surface.

Question 13

Air rights

Answer 13

Ownership of and the rights to the area above the surface of the earth.

Question 14

Littoral rights

Answer 14

Rights of landowners whose property borders a lake or an ocean.

Question 15

Forshore

Answer 15

The land between the mean high watermark and the low watermark.

Question 16

Accretion

Answer 16

A gradual process in which the boundary of riparian land is extended by natural forces.

Question 17

Reliction

Answer 17

The receding of water to expose land beneath. Owner gains more property or riparian land.

Question 18

Erosion

Answer 18

Reverse of accretion. Loss of riparian land

Question 19

Avulsion

Answer 19

Rapid or sudden change in the land. Resulting in either loss or gain from violent natural forces.
Usually does not affect boundaries unless otherwise stated.

Question 20

Doctrine of prior appropriation

Answer 20

First person to use the water becomes the owner

Question 21

Lateral support

Answer 21

The dependency of a piece of property on another piece of property with separate owners

Question 22

Subjacent support

Answer 22

The right to have ones land supported from below. (Ie. If the mineral rights are given over and people begin mining they cannot make your land collapse)

Question 23

Fixtures

Answer 23

A Permanent improvement deemed part of the real property by law. Cause many misunderstandings. Cannot be determined by someone who doesn’t practice law. Listing agent should inform seller of form # 2-T offer to purchase contract.

Question 24

Intention (fixtures)

Answer 24

Was the improvement intentionally installed or put in to be a permanent thing? (Outweighs other 3 criteria)

Question 25

Relation of the attacher (fixtures)

Answer 25

Based on this term, the permanence of the improvement is guessed by whether the tenant or owner meant for that improvement to be permanent or to take it down when the property is sold or the lease is up.

Question 26

Method (fixture)

Answer 26

Does the method of attachment mean the removal of the improvement or add on would cause damage to the property? (Ie a picture would not but 1,000 lb statue with pillars could be considered permanent)

Question 27

Adaptation (fixtures)

Answer 27

How is the item being used and is it adapted to the real property?
The more item specific the attachment is, the less obviously attached it needs to be in order to be considered a fixture.
(Ie. Custom made blinds that fit nonstandard windows)

Question 28

Accession

Answer 28

At the end of a lease any fixtures remaining are considered abandoned and become real property to the landlord

Question 29

Agricultural fixtures

Answer 29

Fixtures installed by the property owner for agricultural use.

Question 30

Effect of Uniform commercial code (UCC)

Answer 30

Fixtures or improvements that have been financed. (Collateral - personalty - is held until the agreement is paid in full). This is filed by the register of Deeds.
Lender can remove the item in the case of missed payments.
Considered personal property until paid off