Unit 1: Real & Personal Property Flashcards
T/F Real property is immovable.
True
What does real property include?
The land plus appurtenances.
What is an appurtenance?
Anything that attaches to and runs with the land.
How do appurtenances transfer?
All appurtenances automatically transfer to the new owner via a deed.
What are the 3 land rights?
1) Surface
2) Subsurface (mineral)
3) Air
What is an improvement?
Items attached to the land with the intent of being permanent.
What are the 3 rights of real estate?
1) Rights of land
2) Rights of ownership
3) Governmental rights
Who controls a property’s water rights?
Government
Under what doctrine allows the government to grant permits for the beneficial use of water?
Prior appropriation
What are riparian rights?
Allows a property owner to use water from a flowing water course such as a river, stream, or creek.
What are littoral rights?
Allows a property owner to use water from standing water such as an ocean, sea, or lake. Littoral rights are usually concerned with the use and enjoyment of the shore.
What is accretion?
The addition to land through natural causes.
T/F Water rights include the right of access.
False. Water rights do not include the right of access.
Who often holds the mineral rights?
A 3rd party like the government
How is real estate transferred?
By a deed.
