Chapter 8: Real Property Rights Flashcards Preview

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Flashcards in Chapter 8: Real Property Rights Deck (58)
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1

_____ is physical, tangible, and immobile. It includes the earth's surface, subsurface, and air above the surface.

Real estate

2

_____ includes anything growing on the land, anything permanently attached, and all improvements.

Real estate

3

_____ includes real estate, plus legal rights to own or use the property.

Real property

4

Riparian rights are rights of an owner whose property borders on _____ water.

flowing: riparian = river

5

Littoral rights are rights of an owner whose property borders on _____ water.

non-flowing: littoral = lake

6

_____ is the loss of soil that is carried away by moving water.

Erosion

7

_____ is an increase in land area caused by the erosion of other areas.

Accretion

8

_____ soil is soil resulting from accretion.

Alluvion

9

_____ is a sudden loss of or addition to land, usually caused by violent flooding or changes in rivers.

Avulsion

10

Personal property can also be called _____ or _____.

personalty
chattels

11

A _____ is an item that was once personal property, but has since been installed and become part of the real estate.

fixture

12

The process of attaching fixtures to real estate is called _____, removing it would be _____.

attachment
severance

13

Courts use 4 tests to determine whether something is real or personal property (IRMA):
1. _____
2. _____
3. _____
4. _____

Intent of the parties
Relationship of the parties
Method of annexation (attachment)
Adaptation (necessary to the property?)

14

The bundle of rights to a property is referred to as _____.

title

15

_____ are items of personal property that have been attached to the property to perform a certain trade.

Trade fixtures

16

The "sticks" in the full bundle of rights to a property are:
1. _____
2. _____
3. _____
4. _____

Disposition
Use
Possession
Exclusion

17

A(n) _____ is an individual's rights in a property; an interest in a property that identifies the quality and quantity of rights held.

estate

18

A party entitled to rights in a property is a(n) _____. This includes property owners.

tenant

19

A _____ is an estate involving ownership. Anyone who owns real property has this.

freehold estate

20

In a(n) _____, the owner has the complete bundle of rights. Most desirable and most common.

fee simple estate

21

In which type of fee simple estate is there a sole owner?

Estate/tenancy in severalty
sever all ties = by yourself

22

In which type of fee simple estate do multiple people share an estate, and the estate is inheritable or may be left in a will?

estate/tenancy in common

23

In which type of fee simple estate do multiple people share an estate, and a right of survivorship applies (upon the death of a tenant, interest passes to the surviving tenants)?

Joint estate/tenancy

24

In a joint tenancy, if a tenant sells his/her interest, it is converted to a _____.

tenancy in common

25

In which type of fee simple estate does a marriage hold estate?

Tenancy/estate by the entireties

26

In an tenancy by the entireties, divorce converts the ownership to a _____.

tenancy in common

27

In a(n) _____, one person conveys ownership to another for the remainder of their lifetime.

life estate

28

In a life estate, the right to regain ownership to yourself or your heirs is called a _____.

reversion estate

29

In a life estate, if someone other than the original owner is to receive rights upon death the current owner, it's called a _____.

remainder estate

30

A remainderman who is certain to receive rights is called a _____.

vested remainderman