Study guide chapter 8

Question 1

Real property:

Answer 1

Refers to physical land and improvements as well as the intangible ownership interests and rights. ( pg 130)

Question 2

Accretions:

Answer 2

The opposite of erosion. The gradual accumulation/addition in soil or growth
of land due to natural causes. (pg 131)

Question 3

Riparian Rights:

Answer 3

Water rights a property owner has on a property that borders a river.
(Moving Waters). (pg 131)

Question 4

Estate in Severalty:

Answer 4

Ownership vested to one owner/Sole-ownership. (pg 133)

Question 5

Joint Tenancy/Joint Estate:

Answer 5

A form of ownership where two or more persons receive undivided interests in the property at the same time, in the same deed. The distinct characteristic is: Right of Survivorship (Pg 134)

Question 6

Tenancy in Common:

Answer 6

A form of ownership where two or more persons called co-tenants receive separate and distinct share of real or personal property without the right of survivorship. The co-tenant can sell, give or Will their percentage of interests. It is the
most common ownership form after a divorce. (pg 134)
Eg Investors may buy a property and hold legal title as Tenants in Common to have the
ability to leave it in a Will (Inheritability). Tenancy in Common has equal interests and
may use the same or different deeds. (pg 134)

Question 7

Tenancy by the Entireties:

Answer 7

A form of ownership that exists only by husband and wife, with right of survivorship. In case of a divorce, title Will be held as Tenancy in Common unless otherwise ordered by court. (pg 134-135)

Question 8

Constitutional Homestead Rights

Answer 8

Constitutional Homestead Rights protects a homeowner from forced sale of consumer
debts and also overrides the disposition of a will. Homestead property has the right of
survivorship. (pg 138)

Question 9

Estate in Reversion

Answer 9

Estate in Reversion is when a property reverts back to its original grantor when a life estate ends. (pg 135)

Question 10

Tenancy for Years

Answer 10

Tenancy for Years is a Leasehold Estate formed by a written instrument that creates a non-freehold estate in real property providing occupancy of the property for a definite or specified time period. Definite Beginning and definite ending date. (pg 136)

Question 12

Elective Share:

Answer 12

When a Florida spouse dies with a Will, and cuts the spouse out of the Will (completely or partially), the surviving spouse may claim 30% of descendant real and personal property owned at the time of death (excluding homestead property which has
the right of survivorship).