Unit 2: Real Property and the Law

Question 1

Real Estate

Answer 1

“The Land” plus Appurtenances (things that are attached to the land) which include improvements, rights, interest, fixtures, privileges

Question 2

Real Estate is what?

Answer 2

Immovable: When a property is sold everything goes with it. If you can move it, it is “Personal Property”

Question 3

Land Rights

Answer 3

1. Surface Rights (what’s on top)
2. Subsurface Rights (what’s underneath (soil, minerals, gas)
3. Air Rights (space above the property)

Question 4

Improvements

Answer 4

Items that are attached to the land with the intent of being permanent
Ex: House, fences, driveways, roses, perennials)

Question 5

Ownership Rights

Answer 5

Occupy it, transfer it, control the property

Question 6

Government rights

Answer 6

Land use controls, taxations, eminent domain

Question 7

Air rights

Answer 7

Extend as high as can be legally used, Government controls air space above (gets smaller as you get closer to an airport)
Can lease Air Rights and Subsurface

Question 8

Water rights

Answer 8

Right of water use

Question 9

Riparian land

Answer 9

R = River (flowing water)
Land abutting relate to flowing water

Question 10

Littoral rights

Answer 10

Land abutting to standing water “L” = Lake

Question 11

Accretion

Answer 11

Addition to land through natural causes, Ex: Sandbar

Question 11

Where do my land rights end with water front

Answer 11

at the average high water point

Question 12

Avulsion

Answer 12

sudden loss of land by a natural act of nature, ex: Landslide
The property line is generally maintained even if there is land no longer there

Question 13

Doctrine of prior appropriation

Answer 13

the right to use water is controlled by the state rather than by the landowner adjacent to the water (People upstream can not cut off water supply)

Question 14

Mineral rights

Answer 14

Can be leased or sold unless the previous owner “reserves” them

Question 15

Personal Property vs Real Property

Answer 15

Personal Property is not attached permanently to the land and must be included in the purchase contract to transfer with the property

Question 16

Real property is transferred by what?

Answer 16

Deed

Question 17

Personal property is transferred by a what?

Answer 17

Bill of sale

Question 18

Fixture

Answer 18

An object that was once personal property that has been attached to an improvement which is now real property

Question 19

What are Adaptations?

Answer 19

Items that are specific to each property that are related to fixed property Example: House Keys, Garage Door Openers

Question 20

Emblements

Answer 20

are annually cultivated crops, each years crop belongs to the party who planted it, unless otherwise agreed upon

Question 21

Trade fixtures

Answer 21

(Not included) owner or tenant-installed additions that are necessary part of their trader or business
Example: Restaurant’s ovens and stoves equipment, need to have bill of sale to transfer these items