The Nature of Real Property Flashcards
What are the bundle of rights for real property?
Possession
Use
Enjoyment
Disposition
Exclusion
Land
the earth’s surface extending downward to the center of the earth and upward infinitely into space. Includes things permanently attached by nature such as trees and water.
riparian rights
the rights of a landowner whose land borders on a stream or watercourse to use and enjoy the water to or own the owners land such that it does not injure other adjacent land owners.
littoral rights
rights of a landowner whose land borers a pond, lake or ocean shore
Define a fixture?
an article of personal property that has been so affixed to real estate that it becomes real property
Define an appurtenance?
items that belong to a property. EX: a garage is appurtenant to the house. Appurtenant items run with the land when the property is transferred.
Define an emblement?
growing crops produced by the labor of the cultivator
What war ended with the signing of the Treaty of Guadalupe Hidalgo
Mexican American War in which Mexico ceded land to the U.S.
What sector owns the highest percentage of California (federal, local, state, private)?
Private ~51%
Which statistic shows the greatest disparity between the state and the nation (home values, household income, population, growth)?
Home values
What are the five tests for a fixture and what is the acronym? Which is the most important consideration?
MARIA
1. Method by which the thing is affixed.
2. Adaptability of the thing for the land’s ordinary use.
3. Relationship of the parties.
4. Intent in placing the item on land (most important consideration).
5. Agreement of the parties
What are the five major rights of ownership and what’s its acronym?
PUEDE
1. Right of Possession
2. Right to control the property’s Use
3. Right of Enjoyment of the Property
4. Right do Dispose of the property
5. Right to Exclude others from the property.
Identify the the methods of legal description of land?
- Metes and bounds
- Rectangular survey system
- Lot and block
Define township, and the area it consists of.
A division of a territory within a rectangular survey system that is six miles square and contains 36 sections, each of which is one square mile.
How many acres are in one standard section of a township?
640 acres (remember a section is 1 square mile).