Section 1 - Chapter 7 Flashcards
police power
state’s power to enact legislation to preserve order, protecct public health and safety, and promote the general welfare of its citizens
4 governmental powers
police power, eminent domain, taxation, escheat
eminent domain
right of govt to acquire privately owend real estate for public use
condemnation
act of taking the property via eminent domain; just compensation paid to owner, rights of prop owner must be protected by law
taxation
charge on real estate to raise funds to meet the public needs of govt
escheat
process by which the state may acquire privately owned real or personal property; intended to prevent property from becoming abandoned
estate in land
defines the degree, quantity, nature, and extent of an owners interest in real property; an interest must allow possession either now or in the future
freehold estates
last for an indefinite period of time; fee simple (also called indefeasible fee), defeasible fee, life estates
leasehold estates
last for a fixed period of time; such as estates for years and estates from period to period
fee simple estates
unlimited duration and “run forever”, upon death passes to owners or by will; fee simple absolute and fee simple defeasible are the two types
fee simple absolute
highest interest in real estate recognized by law; holder entitled to all right of property
fee simple defeasible
qualified estates, subject to occurrence or nonoccurrence of some event; 2 types include “condition subsequent” and “fee simple determinable” (a special limitation)
condition subsequent
new owner must not perform some specified activity; if so, former owner can retake property through legal action
fee simple determinable
qualiied by a special limiitation using “so long as” or “while” or “during”. former owner has “possibility of reverter” where they can retake property without going to court
life estate
freehold estate limited in duration to life of the owner or another designated person; not inheritable
life tenant
rights of ownership and possession like fee simple, but can’t harm the property. ability to use it limited to official owner’s lifetime
conventional life estate
created intentionally by the owner. estate conveyed to an individual called the life tenant. when that person dies, estate goes on to a pre-assigned person or back to original owner
pur autre vie
life estate based on the lifetime of a person other than the life tenant
remainderman, remainder interest
in a conventaional life estate, the person to whom the property will pass when the life estate ends
reversionary interest
when a life esate ends, the property goes back to original owner
legal life estate
not created voluntarily by owner; establised by state law (dower, curtesy, and homestead are 3 types)
dower
life estate that a wife has in real estate of deceased husband
curtesy
interest that husband has in deceased wife’s real property
homestead
legal life estate occupied as the family home where home is protected from unsecured creditors
encumbrance
claim, charge, or liability that attaches to real estate; 2 categories - leins (monetary charges) and encombrances (restrictions, encroachments, licenses, easements)
lein
charge against property that proivdes security for a debt or an obligation of the property owner (like real estate taxes, mortgages, judgements, mechanics’ leins)
deed restrictions
private agreements that affect land use and “run with the land”
covenants, conditions, restrictions
private agreements typically imposed by developer or subdivider to maintain specific standards
easement
right to use the land of another for a particular purpose
appurtenant easement
attached to ownership of one parcel and allows the owner the use of a neighbor’s land
servient tenement
land which serves the other property
dominant tenement
the dominating party benefited by the easement
easement in gross
individual or company interest in or right to use someone else’s land
easement by necessity
by court order, buyer of land must have rights to enter (ingress) and exit (egress), by way of seller’s remaining land
easement by prescription
made use of another’s land for a certain period of time; use must be continuous, exclusive, and without owner’s approval (adverse); use must also be visible, open, and notorious (owner must have been able to learn of it)
easement by condemnation
acquired for public purpose, through right of eminent domain; owner of servient tenement must be compensated for any loss in property value
license
personal privilege (not a right) to enter the land of another for a specific purpose
encroachments
all or part of a structure illegally extends byond the land of its owner
spot survey
shows the location of all improvements located on a property and whether they extend over the lot or building lines
survey sketch
shows only lot dimensions
riparian rights
common law rights granted to owners of land along course of a river, strea, or similar body of flowing water; non-navigable
littoral rights
rights of property owners whose land borders commerically navigable lakes, seas, and oceans (littoral and riparian are appurtenant - attached - to the land)
accretion
owner entitled to all land resulting from deposit of soil by water’s action; reliction is new land acquired by water receding
erosion
losing land by land being worn away by nature
avulsion
removal of land by sudden act of nature
doctrine of prior appropriation
right to use water is controlled by state, not landowner adjacent to the water
