AZK RE L-08 C-1 Real Property and the Law 1 - 0-51

  1. Land
    - Earth surface extending downward to the center (subsurface) and upward to Infinity (airspace)
  2. Real estate
    - land plus all human made improvements to the land that are permanently attached (annexed) to it
  3. Real property
    • .
    •    - Real Estate + Bundle of Legal Rights 
    •    - interests benefits and rights that are automatically included in their ownership
  4. Bundle of Legal Rights (5)
    • .
    •       - include rights
    •          1) off possession
    •          2) to control
    •          3) of enjoyment
    •          4) of exclusion
    •          5) of disposition
  5. Title to real property has two meanings
    • .
    •       1) The right to or ownership of the property (not to a printed document)
    •       2) Evidence of that ownership by a deed
  6. Earth surface extending downward to the center (subsurface) and upward to Infinity (airspace)
    Land
  7. Land plus all human made improvements to the land that are permanently attached (annexed) to it
    Real estate
  8. Real estate + bundle of legal rights
    Real property
  9. Surface rights
    - limited to the surface of the Earth
  10. Subsurface rights
    • .
    •    - Rights to the Natural Resources below the Earth surface
    •    - Owner May transfer subsurface rights without transferring surface rights and vice versa
  11. Air rights
    • .
    •    - space above the earth
    •    - may be sold or leased independently
    •    - solar right (light of solar rights)
  12. Water rights
    • .
    •    - Common-Law (historical) or Statutory Rights held by owner of land adjacent to water and restrictions to the rights of land
    •    - law vary among the states link to climatic and topographic conditions
  13. Riparian rights
    • .
    •     - Common-Law
    •     - Nonnavigable
    •       - to the center
    •    - right to owners of land along with course of river stream or similar flowing body of water
  14. Littoral rights
    • .
    •    - Navigable
    •       - up to average high-water mark
    •    - riparian (прибрежный) rights of owner whose land borders commercially navigable lakes
  15. Accretion
    - increases in the land resulting from the deposit of soil by waters action
  16. Erosion
    - wearing way of the land by natural forces
  17. Evolution
    • - sudden removal of soil by an act of nature
    • - earthquake
  18. Doctrine of Prior appropriation
    • .
    •    - water is scarce (недостаточный)
    •    - ownership and use controlled by the state
    •    - owners must demonstrate beneficial use - irrigation
  19. Rights limited to the surface of the Earth
    Surface rights
  20. Rights to the Natural Resources below the Earth surface
    • - Subsurface rights
    • - Owner may transfer subsurface rights without transferring surface rights and vice versa
  21. space above the earth
    • - Air rights
    • - Solar right
  22. Common-Law (historical) or Statutory Rights held by owner of land adjacent to water and restrictions to the rights of land
    Water rights
  23. Right to owners of land along with course of river stream or similar flowing body of water
    • - Riparian rights
    •     - Common-Law
    •     - Nonnavigable
    •        - to the center
  24. Riparian rights of owner whose land borders commercially navigable lakes
    • - Littoral rights
    •    - Navigable
    •       - up to average high-water mark
  25. Increases in the land resulting from the deposit of soil by waters action
    Accretion
  26. Wearing way of the land by natural forces
    Erosion
  27. Sudden removal of soil by an act of nature
    • - Evolution
    • - earthquake
  28. - water is scarce
    - ownership and use controlled by the state   
    - owners must demonstrate beneficial use - irrigation
    Doctrine of Prior appropriation
  29. Personal property
    • .
    •    - or personalty
    •    - or chattels
    •    - movable
  30. Personalty
    • - Personal property
    •    - or chattels
    •    - movable
  31. Chattels
    • - Personal property
    •    - or personalty
    •    - movable
  32. Factory-built housing
    • .
    •    - personal property
    •    - defined as dwelling that are not constructed at the site but are built off-site
    •    - trucked (convey by truck) to a building lot

    •    - includes:
    •       - modular
    •       - penalized
    •       - precut
    •       - mobile
    •          - National Manufactured Housing Construction and Safety Standards Act Of 1976
  33. Manufactured Housing
    • .
    •       - built specifically to the standards of the Department of Housing and Urban Development (HUD)
    •       - can be considered personal property
    •          - if can be moved

    •       - can be considered real property
    •          - if it becomes permanently affixed to the land
  34. Fructus Naturales
    • .
    •       - real property
    •       - do not require annual cultivation
    •       - trees, perennial shrubbery (shrubs are thickly planted), grasses
  35. Fructus Industriales
    • .
    •       - personal property
    •       - annually cultivated crops
    •       - fruit, vegetable, grain
  36. Severance
    • .
    •       - from real to personal
    •       - act of separating from land
    •       - real property becomes personal
    •       - trees - real property
    •       - cut trees - personal property
  37. Annexation
    • .
    •       - from personal to real
    •       - changes personal property into real property
    •       - wood - personal property
    •       - fence from that wood - real property
  38. Dwelling that are not constructed at the site but are built off-site
    • - Factory-built housing
    •    - personal property
    •    - trucked (convey by truck) to a building lot

    •    - includes
    •       - modular
    •       - penalized
    •       - precut
    •       - mobile
  39. House built specifically to the standards of the Department of Housing and Urban Development (HUD)
    • - Manufactured Housing
    •       - can be considered personal property
    •          - if can be moved
    •       - can be considered real property
    •          - if it becomes permanently affixed to the land
  40. Plants that do not require annual cultivation
    • - Fructus Naturales
    •       - real property
    •       - trees, perennial shrubbery (shrubs are thickly planted), grasses
  41. Plants that require annual cultivation
    • - Fructus Industriales
    •       - personal property
    •       - fruit, vegetable, grain
  42. Act of separating from land
    • - Severance
    •       - real property becomes personal
    •       - trees - real property
    •       - cut trees - personal property
  43. Act that changes personal property into real property
    • - Annexation
    •       - wood - personal property
    •       - fence from that wood - real property
  44. HUD
    Department of Housing and Urban Development (HUD)
  45. Fixture
    - personal property has been so attached to land or a building that by law it becomes part of the real property
  46. Legal Tests of a fixture
    • MARIA
    •       - Method of annexation
    •       - Adaptability
    •       - Relationship
    •       - Intention
    •       - Agreement
  47. Method of Annexation
    • .
    •       - legal test of a fixture
    •       - how permanent?
    •       - can be removed without causing damage?
  48. Adaptability of the item for the land's originally use
    • .
    •       - legal test of a fixture
    •       - is used as a real or personal property?
    •       - refrigerator - personal property
    •       - refrigerator adapted to match the kitchen cabinetry - fixture
  49. Relationship of the parties
    • .
    •       - legal test of a fixture
    •       - Court will favor
    •          - tenant over landlord
    •          - buyer over seller
  50. Intention of the person in placing the item on the land
    • .
    •       - legal test of a fixture
    •       - most important consideration
    •       - if an installation is intended to be temporary it should not be attached in a way that appears to be permanent
  51. Agreement of the parties
    • - legal test of a fixture
    • - have the parties agreed on whether it is real or personal
Author
flashsmilenet
ID
344006
Card Set
AZK RE L-08 C-1 Real Property and the Law 1 - 0-51
Description
AZK RE L-08 C-1 Real Property and the Law 1 - 0-51
Updated