Unit 2 - Module 1.1 Real Property Basics Flashcards
Water terms that add to land
Equation = gradual extension of land through soil deposits (alluvium/alluion)
Reliction = gradual extension of land as water permanently proceeds
What are riparian rights?
Rights for property that border a river or stream.
Navigable = state owned waterway
Non-navigable = ownership extends to the centerline of the river
What is the test for determining if something is a fixture or personal property?
Total circumstance test - IRMA (intention, relationship, method, and adaptation). Remember that agreement beats IRMA.
What is the Uniform Commercial Code?
A fixture that remains personal property until paid in full notice is filed with register of deeds, office and county where the property is located.
What are air rights?
Ownership of the airspace above the land. May be severed to allow a cell tower on top of a building.
What are emblements?
Fruits of industry, and annual crop that must be planted each year.
What is a trade fixture?
An item used in a trade or business. Remains personal property. Tenant can remove prior to lease termination. If abandoned by tenant, it becomes a fixture.
What is an appurtenance?
An improvement on the land that is attached to the property (driveway, structure, utilities, etc.)
Water terms, when land is lost
Erosion = gradual loss of land
Adulation = sudden, and violent loss (significant flooding)
What are littoral rights?
Property rights that border in Ocean or Lake. Own to the mean (average) high water mark. State owns the foreshore.
Is the seller obligated to leave personal property offered in the MLS but not listed in the purchase contract?
No, the purchase contract is the final expression between the parties. The buyer must include the personal property in the offer.
How does the trailer become real property?
Wheels and hitch removed, placed on permanent foundation, on land that is owned, and DMV title canceled
