Unit 2 - Real Property and the Law

Question 1

What is Accession

Answer 1

Trade fixtures not removed become the real property of the landlord. AKA - Constructive Annexation

Question 2

What is a Trade Fixture

Answer 2

Article owned by tenant, attached to rental space or building, and is used in conducting business. AKA - Chattel Fixture

Question 3

What are Legal test of fixture
MARIA

Answer 3

Method of Annexation, Adaptability of item to land use, Relationship of Parties, Intention of placing item on land, Agreement of parties. *most important is Intention

Question 4

What is a fixture

Answer 4

Personal property that has been so attached to land or a building that, by law, it becomes part of the real property

Question 5

What are emblements

Answer 5

Annually cultivated crops (corn, beand, etc.)

Question 6

What is Fructus Industriales

Answer 6

Plants or crops that requre annual cultivation (personal property)

Question 7

What is Fructus Naturales

Answer 7

Plants that do not requre annual cultivating (trees/shrubs) on real estate

Question 8

What are chattels

Answer 8

Items of personal property (chairs, tables, clothing, etc)

Question 9

What is Severance

Answer 9

Converting real property to personal property

Question 10

What is Annexation

Answer 10

Converting personal property to real property

Question 11

What is Personalty

Answer 11

Personal property - important distinction is it is movable

Question 12

What are 4 economic characteristics of real estate
SIPA

Answer 12

Scarcity, Improvements, Permanence of Investment, Area Preferance (Location *Most important)

Question 13

What is Avulsion

Answer 13

Sudden removal of soil by act of nature (earthquake, mud slide)

Question 14

What is Erosion

Answer 14

Wearing away of land by natural forces (Losing land)

Question 15

What is Accretion

Answer 15

Increase in the land, resulting from deposit of soil by waters action

Question 16

What is a flood plain

Answer 16

Area of land surrounding a river that can potentially get wet

Question 17

What is flood water

Answer 17

River floods over bank to flood plain

Question 18

What is Littoral Rights

Answer 18

Rights granted along lake, sea, or ocean. Property goes to high water mark on edge of water

Question 19

What are Riparian Rights

Answer 19

Rights granted along a river. Non-navigable is middle to water. Navigable is to waters edge

Question 20

What are Water Rights

Answer 20

Common law or statutory rights held by owners of land adjacent to rivers, lakes, oceans

Question 21

What are 3 Rights associated with land

Answer 21

Surface, Sub-surface, and Air

Question 22

What is an Appurtenance

Answer 22

Right or priviliege associated with the property although not necessarily a part of it. (Person owns condo, but has access to pool, garage, etc)

Question 23

What are the Bundle of legal rights of ownership of real property. DEEPC

Answer 23

Disposition, Exclusion, Enjoyment, Possession, Control

Question 24

What is an Improvement

Answer 24

Artificial thing attached on or below ground, such as a building, fence, water line, and growing things a part of landscaping

Question 25

What is another name for Uniqueness

Answer 25

Non-homogeneity

Question 26

What are the 3 characteristics of land
IIU

Answer 26

Immobility, Indescructibility, Uniqueness

Question 27

What is Real Property

Answer 27

Real Estate plus the Bundle of Rights

Question 28

What is Real Estate

Answer 28

Land plus permanent human-made additions, called improvements

Question 29

What is Land

Answer 29

Earth’s surface to center of Earth, the airspace, including trees and water

Question 30

What is the Doctrine of Prior Appropriation

Answer 30

The right to use any water, with the exception of domestic use, is contolled by the state rather than land owner adjacent to water.