Property Rights

Question 0

Fixture status (MARIA)

Answer 0

Method of attachment 
Agreement between parties
Relationship to the parties
Intent of person who installed the fixture
Adaptability, purpose

Question 1

Bundle of rights

Answer 1

1. Possession
2. Use
3. Transfer
4. Encumbrance
5. Exclusion

Question 2

Right of Emblements

Answer 2

Gives tenants, farmers, for example, the right to harvest money crops “industrial fruits” that mature after their departure.

Question 3

Exempt Domestic Well

Answer 3

A well with a max pump capacity of 35 gallons per minute and which will water less than 2 acres of land. “Notice of intent to drill”

Question 4

Prior appropriation

Answer 4

Refers to water rights

“First in time, first in right” first applicants are served first.

Question 5

Government Rights (PETE)

Answer 5

Police power
Eminent Domain
Taxation
Escheat

Question 6

Property taxes

Answer 6

Based on value of property (ad valorem)
Levied annually but paid twice a year. 1/1 to 6/30 & 7/1 to 12/31
Due dates: "Oh No More Money"
Oct. 1, delinquent Nov. 1
March 1, delinquent May 1