FUNDAMENTALS OF PROPERTY OWNERSHIP Flashcards
1
Q
refers to the totality of the assets owned by a person which includes real estate and personal properties
A
estate
2
Q
refers to the land and all permanent improvements attached thereon
A
real estate
3
Q
real estate plus rights and benefits
A
real property
4
Q
what are the bundle of rights
A
P - Possess (Jus Possidendi)
U - Use (Jus Utendi)
E - Enjoy (Jus Utendi), Rights to Fruits (Jus Fruendi)
D - Dispose or Alienate (Jus Dispodendi)
E - Exclude
V - Vindicate or Recover (Jus Vindicandi)
A - Abuse (Jus Abutendi)
5
Q
what are the physical characteristics of real estate
A
immobility, indestructibility, uniqueness, non-homogeneity
6
Q
is a type of property that is physically attached to land or property, typically through a structural or permanent connection
A
fixture
7
Q
what are the tests for a fixture
A
M - method of attachment
A - Adaptation of items
R - Relationship of parties
I - intent of the parties
A - agreement of the parties
8
Q
is a movable and does not form part of the land or building
A
personal property
9
Q
the highest form of land ownership
A
freehold estates of ownership
10
Q
2 types of freehold estates of ownership
A
fee simple estate and life estate
11
Q
is a present and possessory interest, carrying the maximum bundle of rights. It allows the owner to use the property indefinitely
A
fee simple estate
12
Q
is the most complete form of ownership
A
fee simple absolute
13
Q
is a right of possession with certain restrictions on its use
A
fee simple subject to power of termination
14
Q
right to use and possess the property only during their lifetime of that of the identified person in the deed or will
A
life estate
15
Q
interest that the original owner holds in the property after the life estate ends
A
reversion
16
Q
interest that a third party holds in the property after the life estate ends
A
estate in remainder
17
Q
type of property ownership where a tenant is granted right to inhabit a property for a specified period while paying rent to the landlord
A
leasehold estates of tenancy
18
Q
is created when a landlord and tenant agree on a specific time frame for the tenancy
A
estate for years
19
Q
if landlord and tenant agree on a lease term without end day. the lease continues until either the landlord or tenant gives notice to terminate the agreement
A
estate from period to period
20
Q
creates a tenancy where either party can terminate the lease agreement at any time without prior notice
A
estate at will
21
Q
arises when a tenant continues to occupy the premises after lease has expired or been terminated
A
estate as sufferance
22
Q
all lands of the public domain belong to the state
A
regalian doctrine
23
Q
the soil is the material which makes up the earth, including substances beneath the surface that extend to the center of the earth
A
land
24
Q
the right to use the air space above you subject to government laws
A
air rights
25
the right to improve your land, plant trees or crops, build house and structures subject to local government laws and restrictions
surface rights
26
water rights, mineral rights or the right to remove substances underneath your land, treasure rights, right to dig/explore subject to government laws
subsurface rights
27
right to own real estate in the philippines is governed by the 1987 constitution
right to own land
28
classifications of lands of public domain
agricultural
forest or timber
mineral
national parks
29
alienable lands of public domain shall be limited to
agricultural lands
30
lands that may be conveyed or transferred by one party to another
alienable lands
31
private corporations and associations may hold such alienable lands of public domain only by lease, not exceeding:
Period?
Renewable for?
Area limit?
Maximum term?
Period: 25 years
Renewable: 25 years
Limit: 1,000 hectares
Maximum term: 99 years
32
Filipino citizens may lease alienable lands of public domain not more than
500 hectares
33
Filipino citizens may acquire alienable lands of public domain not more than ___ by purchase, homestead or grant
12 hectares
34
what are the powers of the state
police power
eminent domain
taxation
escheat
35
power of the state to regulate the use of the property
police power
36
refers to the use of restrictions in particular areas or the delineation of allowable uses in particular areas
zoning
37
regulations pertaining to specifications such as height, setbacks, construction materials
building code
38
the power of the state to take private property for public use upon payment of just compensation
eminent domain
39
power of the state to impose and collect tax and other charges
taxation
40
reversion of the property to the state on the owners dying without legal heirs
escheat
41
temporary surrender of the right to possess, use and enjoy in favor of a person who pays a consideration
lease contract
42
right given to an owner of an adjoining land to pass or have access through another land
right of way easement
43
conveyance of the right to enjoy the fruits of the property
usufruct
44
best evidence of ownership
torrens certificate of title
45
system of land registration commonly used today
torrens system
46
one of the founders of the torrens system in south australia in 1857
Sir Robert Richard Torrens
47
voluntary transfer or conveyance such as sale or donation
private grant
48
acquisition of alienable public land by homestead patent, free patent, sales patent or other government award
public grant
49
acquisition against consent of owner such as foreclosure or executive sale
involuntary grant
50
acquisition by hereditary succession
inheritance
51
filling of submerged land subject to government regulations and existing laws
reclamation
52
acquisition of land adjoining banks of rivers due to gradual deposit of soil as a result of moving body of water, such as rivers
accretion
53
prescription is acquisition of title by
E - Exclusive
C - Continuous
O - Open and notorious
A - Actual occupation
C - Claim of right or color of title
H - Hostile
54
acquisition of title by prescription with a period of
10 years in good faith and 30 years in bad faith
55
original certificate of title (OCT) has been issued to an owner by the Register of Deeds for the first time
original registration
56
2 ways to acquire OCT
Judicial - through the courts (Act496/Land Registration Act and PD1529/Property Registration Decree -voluntary, Act2259/Cadastral Act-compulsory)
Administrative - acquisition of land patents to public agricultural lands (CA141/Commonwealth Act No. 141)
57
when originally issued land title, OCT, is cancelled and replaced by another title
subsequent registration
58
exceptions to foreign ownership of real estate in the philippines
1 - acquisition before the 1935 constitution
2 - acquisition by hereditary succession
3 - purchase by aliens of not more than 40% of the units in a condominium project
4 - purchase by former natural-born filipino citizens
59
ownership of land carries with it a distinct social obligation, owners are obliged to use their properties to promote the general welfare and not only their interests, thus the state may regulate or control land ownership
stewardship concept
60
everything on earth must have an owner
res nullius
61
the owner or lawful possessor of a thing has the right to exclude any person from enjoyment and disposal thereof. for this purpose, he may use such force as may be reasonably necessary to repel or prevent an actual or threatened unlawful physical invasion or usurpation of his property
doctrine of self-help
62
belongs to the owner of the land, building, and other property on which it is found
hidden treasure
63
any hidden and unknown deposit of money, jewelry, or other precious objects, the lawful ownership of which does not appear
treasure
64
the holding of a thing or an enjoyment of a right
possession
65
taking over someone elses property and occupying it long enough to actually acquire ownership
prescription
66
the state has the right to take private property for public use by paying the property owner just compensation
eminent domain / condemnation
67
proceeding to perform condemnation
expropriation
68
devotion of property by an unequivocal act of the fee owner manifesting an intention that it shall be accepted
donation
69
donation becomes valid only if it is
1 - registered in a public document
2 - done during the lifetime of the donor
3 - donee is not disqualified by law
70
donation done during donor's lifetime, through a public document and must be accepted by the donee
donation inter vivos
71
donation done upon the donor's death, through a valid will and doesn't need to be accepted by the donee
donation mortis causa
72
refers to an increase in property owned. manmade or natural additions to property may extend the owner's title to include those additions
accession
73
occurs when a person affixes his property to the land of another without an agreement permitting him to remove it
annexation
74
process by which land adjacent to a flowing body of water accumulates new soil
accretion
75
buildup of soil on a river as a result of accretion
alluvion / alluvium
76
sudden and perceptible change in land brought about by water
avulsion
77
the increase in land caused by the gradual recession, shrinkage or change in course of a body of water which gives the owner of the riparian property more dry land
reliction
78
document made by an owner of a property who is legally competent to do so, to pass title to the property to another after death
will
79
person making the will and is said to die in testate
testator
80
the personal representative of a person who dies leaving a will
executor
81
if no will is left, the representative is called the
administrator
82
transfer of title to real estate by will
devise
83
deceased owner with a will
devisor
84
person receiving property by will
devisee
85
transfer of property by will, particularly personal property
bequest of legacy
86
recipient of personal property by will
legatee
87
during life, the testator has the right to make a new will or make amendments through a document called a
codicil
88
is the judicial process whereby a will is "proved" in a court of law and accepted as a valid public document that is the true last testament of the deceased, or whereby the estate is settled according to the laws of intestacy in the state of residence of the deceased at time of death in the absence of a legal will
probate
89
formal will, in writing, signed at the end if the testator, witnessed by at least three or more credible attesting witness in the presence of the testator and the will recipient, and duly notarized by an attorney
notarial or witness will
90
written, dated and signed entirely in the hand of the testator, and it need not to be witnessed. its use is recommended only when time factor or other circumstances do not permit the execution of a formal will
holographic will
91
part of the testators estate that he cannot dispose of because the law has reserved it to a certain heir
legitime
92
legitimate and illegitimate children of the decedent
compulsory heirs
93
when a person dies without leaving a will, his estate is distributed to his heirs at law
succession
94
a fiduciary arrangement where an owner of property, referred to as the settlor or trustor, transfers title to the property, called the corpus of trust, with the intention that it will be held and administered by the transferee, called the trustee, for the benefit of another person or persons, called the beneficiary or cestui que trust
transfers in trust
95
reverting of property to the state when a person dies without a will and there are no heirs capable of inheriting.
escheat
96
prescriptive time period for escheat
5 years
97
involuntary transfer of title, an action to quiet title, a foreclosure action, or an execution sale following a judgement for money; also bankruptcy proceeding will cause transfer of title by operation of law
involuntary alienation
98
a court proceeding brought to force others who have claim to the property to prove those claims or have the claims ruled invalid
action to quiet title
99
sale of property by mortgagee, trustee, or other lienholder on default by the borrower
foreclosure action
100
divestiture or loss of property without compensation in consequence of a default
forfeiture
101
the true owner permits another person to appear either as the owner of the property or as having full power of disposition over it, an innocent third party who is led into dealing with the apparent owner will be protected by court of equity against claims of the true owner whose conduct made the fraud possible
title by estoppel
102
shall have exclusive jurisdiction over all applications for original registration of title to lands, including improvements, and interests therein, and over all petitions filed after original registration of title
court of first instance
103
who may apply for original registration
1 - those who by themselves or through their predecessors-in-interest have been in open, continuous, exclusive and notorious possession and occupation of alienable and disposable lands of the public domain under a bonafide claim of ownership since june 12, 1945 or earlier
2- those who have acquired ownership of private lands by prescription
3- those who have acquired ownership of private lands or abandoned riverbeds by right of accession or accretion
104
building as personal property
stipulated in contract in chattel mortgage
bought for demolition
105
estimated value of property subject to expropriation for public use
condemnation value
106
how many persons per square kilometer is considered as urban land
1000 persons per 1 square kilometer
107
citizenship based on nationality of parents
jus sanguinis
108
citizenship based on place of birth
jus soli
109
estate's duration is based on the life of the receiver
life estate
110
tenancy started by legal means but ended without justification
tenancy at sufferance
111
to recover real property due to forcible entry or unlawful detainer
accion interdictal (filed with in 1 year)
112
recover better right of possession of a real property
accion publiciana (filed within 10 years)
113
recover ownership of real property
accion reinvindicatoria (filed at the RTC with in 10 years - ordinary prescription or 30 years - extraordinary
114
finder is entitled to ___ on hidden treasure
1/2
115
land formed in sea water
litoral
116
void marriage creats
co-ownership
117
resumption of relationship between testator and disinherited heir
reconciliation
118
addition of value of all donations made inter vivos by the decedent
collation
119
omission in the testator's will of one or all of the compulsory heirs
preterition or pretermission
120
partition of estate is prohibited
by testator: not to exceed 20 years
by co-heirs: not to exceed 10 years
121
donative intent
animus domandi
122
donation is perfected when
at the moment the donor knows about the acceptance of donee
123
easement of view
direct view - 2m between walls
oblique view - not less than 60cm
124
property of the state accoding to UNCLOS
200 nautical miles
125
signature of parents are needed for ___ to be married
18-21 years old
126
main law governing the right to own real estate
1987 constitution
127
res alicujus
owned by person
128
res alienae
belongs to another
129
res communes
owned by nobody, can be used by everybody
130
if the total area in the contract is smaller that actual provied
rescission
131
voluntary renunciation of all rights thereby allowing third person to acquire such property
abandonment
132
transmission of rights thru legal means
assignment
133
failure or neglect to exercise due diligence in an unexplained length of time
laches
134
the owner of a property cannot prohibit the interference of others to avoid grave danger. the owner can indemnify self
acts in state of necessity
135
the right of the owner to exclude others from enjoyment of his property. he may use reasonable force to prevent invasion or usurpation of his property
doctrine of self-help
136
state owned in a private or proprietary capacity
patrimonial property
137
real estate professionals should indicate the following in signed documents, letterheads, advertisements
license no.
professional ID no.
PTR no.
AIPO no.
with issuance and validity dates
138
signs/billboards and dry seal should indicate
only license no.
139
has the power to adopt code of ethics prepared by PHILRES
PRBRES
140
Real Estate Brokerage Law
CA 2728
141
–law that governs relations of a couple who wants to get married
FAMILY CODE OF THE PHILIPPINES
142
–homestead land under 1987 constitution
12 hectares
143
–limitation on the right of ownership aside from legal
contractual
144
–proceeding to take private property for public use
expropriation
145
if foreigners want to build a house
lease the land
146
–filipinos that became foreign citizen can still own a house through this
hereditary succession
147
–should be executed for complete separation of property
pre-nuptial agreement
148
–right of fruits of property
usufruct
149
–legal age to get married under the new family code
18 years old
150
–voluntary limitation in one’s right of ownership
deed of restrictions
151
–when 2 neighbors goes into a sale
private grant
152
–signed by foreigner who’s wife bought a property
void affidavit
153
–property of wife which was inherited during marriage
paraphernal property
154
–to be a dual citizen this must be done by natural born filipino
file petition in Bureau of Immigration
155
–property relations if not married
co-ownership
156
–separated from husband but wants to sell property. Property
inherited prior to marriage
she gets the consent of the husband
157
–if property loaned was sold in a auction
involuntary grant
158
–sole property of the husband who is now married
capital property
159
–not included trade in foreign investors act
buying and selling
160
–wife and husband can sell to each other
they have a judicial separation of property
161
–period of time to question a husband who sold a conjugal property
5 years
162
–imprescriptible and indefeasible
torrens title
163
–citizenship aside from naturalization
acts of legislature
164
corporations can lease public domains for
25 years renewable for 25 years
165
–property relations if married in 1975 but no pre nup
relative community of property
166
–husband has no consent with transfer of property. Before the family code
EXCLUSIVE MONEY OF THE WIFE
167
–foreign investors lease act renewable up to
25 years
168
–acquire possession if in good faith
10 years
169
–can separate properties if there’s no marriage settlement
judicial order
170
–temporary use of land
lease contract
171
population density of urban area
1000 persons per square kilometer
172
–first thing to do to acquire land by a natural born filipino
affidavit under BP 185
173
–to become dual citizen
taking oath of allegiance
174
–acquire possession if in bad faith
30 years
175
–if no marriage settlement, this must be issued
judicial separation of property
176
–piece of land through inheritance, no marriage settlement
paraphernal property
177
–escheated by government
patrimonial property
178
–a visa given to foreigner to reside in the phils under Philippine Retirement
Authority
special resident retiree's visa
179
-minimum amount of Filipino ownership of a real estate corporation
0%
180
-min pinoy ownership in a corporation
60%
181
–a pinoy may apply for free patent under RA 10023, this is for first and second class municipalities
750 sqm
182
A child born out of wedlock from minor parents, but who eventually got married, will now be classified as
legitimate
183
A sale of parcel of land, bought by a foreigner who was not allowed to own land, sold eventually to a Filipino citizen
is
valid
184
For a pinoy who Is a citizen of Australia, to be able to acquire land under BP185, the person should be
born of at least one Filipino parent
185
–reserved for compulsory heirs
legitime
186
–former natural born pinoy can acquire land in a rural area not to exceed 3
HECTARES
Foreign Investor Act of 1991
187
If marriage settlement is void, there’s an
absolute community of property
188
Illegitimate minor child may use the surname of the father who is married to another provided
the father executes an affidavit of acknowledgement
189
–land acquired through public auction
involuntary grant
190
–when a person inherits real estate from the deceased who died with a will but which
was declared void, would be an inheritance through
intestate succession
191
A Filipina can sell to her husband if there’s a
judicial separation of property
192
–classification of property under civil code
immovable and movable
193
–granting foreigners citizenship
1987 constitution
194
–if two people, both single, lived together as husband and wife
co-ownership
195
–not a requirement of becoming dual citizen
renunciation of foreign citizenship
196
–considered a voluntary limitation on one’s ownership to land
right of way easement
197
–allowable leasable alienable land of the government
500 hectares
198
–current river segragates from one estate on its bank portion of land and transfer to another estate
avulsion
199
–right of owner of a parcel of land to receive civil fruits means the following
right to receive rent
200
–not a requisite for the exercise of eminent domain
must be titled land
201
Private corporations and associations may hold such alienable lands of the public domain only by
lease for 25 years renewable for 25 years, not to exceed 1,000 hectares
202
Filipino citizens may lease not more than
500 hectares
203
the temporary surrender of the right to possess, use and enjoy in favor of person who pays a consideration
lease contract
204
under BP 185, former filipinos acquisition shall not exceed ___ to be used solely for residence of the buyer
1,000 sqm for urban
1 hectare for rural
205
urban areas shall include
1- population density of 1000 persons per sqkm
2 - poblaciones or central districts with 500 persons per sqkm
3 - poblaciones or central districts with street pattern and at least 6 establishments
206
Foreign Investments Act of 1991: natural born Filipino who lost citizenship may be a transferee of private land up to maximum of
5000 sqm for urban
3 hectares for rural
207
Dual Citizenship Law
RA 9225
208
Foreign Investments Act of 1991
RA 7042 as amended by RA 8179
