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
