Chapter 2 - The Nature of Real Property

Question 1

Property

Answer 1

Something that can be owned or possessed.

Question 2

The two types of property

Answer 2

Tangible property and intangible property

Question 3

Tangible (or Corporeal) Property

Answer 3

Property that has a physical presence and can be felt or touched.

Question 4

Intangible (or Incorporeal) Property

Answer 4

Property that is no physical and abstract (e.g., copyrights).

Question 5

What is all property, whether tangible or intangible, classified as?

Answer 5

Real Property or Personal Property

Question 6

Real Property (Realty; or Immovable Property)

Answer 6

Land, anything affixed or attached to the land, and anything incidental or appurtenant to the land.

Question 7

Personal Property (Personalty or Chattels)

Answer 7

Property that is moveable; Anything that isn’t real property.

Question 8

What are the three components of land?

Answer 8

1. ) Subsurface;
2. ) Surface; and
3. ) Airspace.

Question 9

Subsurface

Answer 9

Everything beneath the surface of a piece of land down to the center of the earth.

Question 10

Airspace

Answer 10

Everything above the surface of a piece of land to the upper reaches of the sky.

Question 11

The two principal components of real property

Answer 11

1. ) Land; and

2. ) Improvements to the land.

Question 12

Appurtenance

Answer 12

A right or interest that goes along with or pertains to a piece of land.

Question 13

The appurtenances that may accompany a piece of land

Answer 13

1. ) Air rights;
2. ) Water rights;
3. ) Solid material rights;
4. ) Oil and gas rights; and
5. ) Support rights.

Question 14

Air Rights

Answer 14

A landowner’s right to use the airspace above her land.

Question 15

Water Rights

Answer 15

A landowner’s potential right to use water tied to her land.

Question 16

The two types of water rights

Answer 16

1. ) Riparian Rights; and

2. ) Appropriative Rights

Question 17

Riparian Rights

Answer 17

Water rights of a landowner with respect to water that flows through or adjacent to his property. Generally, the landowner has the right to make reasonable use of a stream’s natural flow and for domestic uses.

Question 18

What determines if a stream is navigable?

Answer 18

Whether the size of the stream allows for its use in commerce.

Question 19

Littoral Property

Answer 19

Property located beside a lake.

Question 20

Appropriative Rights

Answer 20

A person’s prioritized right to use water held in trust by the government through a permit.

Question 21

Solid Mineral Rights

Answer 21

A landowner’s ownership of all the solid minerals within the “inverted pyramid” sunder the surface of her property. These minerals are considered realty until they are extracted, after which they are considered personalty.

Question 22

Oil and Gas Rights

Answer 22

A landowner’s right to town all of the oil or gas produced from wells on her property, even if it has migrated from neighboring land.

Question 23

Support Rights

Answer 23

A landowner’s right tot he natural support provided by the land beside (adjacent to) and beneath (subjacent to) her property.

Question 24

Attachments

Answer 24

Things that are affixed or attached to land.

Question 25

The two types of attachments.

Answer 25

1. ) Natural; and | 2. ) Man-Made.

Question 26

Natural Attachments

Answer 26

Plants attached to the earth by root; Fruits of nature and fruits of industry.

Question 27

Doctrine of Emblements

Answer 27

If a farmer tenancy is for an indefinite period of time and is terminated through no fault of the tenant before the crops are ready for harvest, then the tenant has the right to re-enter the land and harvest the first crop that matures after the tenancy is terminated.

Question 28

Fixture

Answer 28

Things that are attached to the land by people (e.g., houses, fences, etc.).

Question 29

Annexation

Answer 29

The act of adding something on to real property, thereby making it a fixture.

Question 30

The two types of annexation.

Answer 30

1.) Physical; and | 2,) Constructive.

Question 31

Physical Annexation

Answer 31

When an item is affixed to, embedded in, or otherwise permanently attached to the land or improvements.

Question 32

Constructive Annexation

Answer 32

When an item is a necessary or working part of realty.

Question 33

Severance

Answer 33

The separation of something from real property.

Question 34

The primary identifier of whether something is a fixture or personal property in a purchase.

Answer 34

The intentions of the parties as identified in the purchase agreement and/or bill of sale.

Question 35

The fixture test

Answer 35

Process used to identify whether an item is a fixture or personal property if not identified in a purchase agreement and/or bill of sale.

Question 36

MARIA

Answer 36

``` Acronym used for the fixture tests: M - Method of attachment A - Adaptation to the realty R - Relationship of the parties I - Intention of the annexor A - Agreement in eriting ```

Question 37

Physical characteristics of realty

Answer 37

Immobility, Indestructibility, and Uniqueness.

Question 38

Economic characteristics of realty

Answer 38

Scarcity, Improvements, Permanence of Investment, and Area Preference.

Question 39

Property or Legal Description

Answer 39

Section of a document that identifies the land.

Question 40

Survey

Answer 40

Process where surveyors go to a site and locate the exact boundaries of a parcel of land.

Question 41

The three methods used to describe land in legal documents.

Answer 41

1. ) Metes and Bounds Method; 2. ) Government Survey Method; and 3. ) Recorded Map Method.

Question 42

Metes and Bounds Description

Answer 42

Describing a parcel of land by specifying the location of its boundaries using monuments, courses and distances.

Question 43

Monuments

Answer 43

Natural or man-made objects used as markers.

Question 44

Courses or Directions

Answer 44

Compass readings

Question 45

Distances

Answer 45

Measures in any convenient unit of length

Question 46

Government Survey Description (Rectangular or Public Land Survey System)

Answer 46

Method in which land is described by reference to a grid of lines running north/south and east/west established by a survey.

Question 47

Principal Meridian

Answer 47

The original north/south line established by a survey grid.

Question 48

Base Line

Answer 48

The original east/west line established by a survey grid.

Question 49

Lot and Block Descriptions (Recorded Map or Recorded Plat Method)

Answer 49

Method of land description that subdivides land into lots and blocks.