RPL Study Guide Flashcards
(81 cards)
What is generally not affected by federal law (except environmental issues)
U.S. Property Law
A law derived from judicial decisions rather than from statutes or constitutions. Gives great precedential weight on the principle that it us unfair to treat similar facts differently on different occasions and binds future decisions.
Common Law
A systematic collection of laws designed to comprehensively deal with the core areas of private law. Louisiana law is based on its Blank (Napoleonic Code). However, Louisiana courts rule on the meaning of the civil code when it is challenged.
Civil Code
Land and anything growing on, attached to, or erected on it, excluding anything that may be severed without injury to the land. Includes - Land, Buildings, and Oil and Gas in the ground. All interests, benefits and rights inherent in the ownership of physical real estate; the bundle of rights associated with ownership of real estate - Mineral rights, leasehold right, royalty interest
Real Property
Any portable or intangible thing that is subject to ownership and is not classified as real property - Includes portable and tangible objects that are not permanently affixed to and part of the real estate - Automobiles, oil and gas after production.
Personal Property
A deed that contains one or more covenants of title. Expressly guarantees the grantor’s good, clear title and contains covenants covering the quality of title, including warranties of seisin, quiet enjoyment, right to convey, freedom from encumbrances, and defense of title against all claims. Also the highest form of conveyance.
Warranty Deed
A deed in which the grantor covenants to defend the title against only those claims and demands of the grantor and those claiming by and under the grantor
Special Warranty Deed
A deed that does not contain any covenant of warranty
Deed Without Warranty
A legal doctrine under which, if a grantor conveys what is mistakenly believed to be good title to land that he did not own, and the grantor later acquires that title, it vest automatically in the grantee. Unless there is a reservation or limitation in the document.
Doctrine of After-Acquired Title
A bar that prevents one from asserting a claim or right that contradicts what one has said or done before or what has been legally established as true.
Estoppel (Estop)
A deed that conveys a grantor’s complete interest or claim in certain real property but that neither warrants nor professes that the title is valid. Also termed deed without covenants. “All of my right, title and interest).
Quitclaim Deed
A deed that appears in the title chain and the grantor has no known interest in the property, either from a bad description, index error, or missed deed.
Stray Deed or Wild Deed
A deed that was probably prepared to avoid probate but has not been delivered. The warning sign that the deed was recorded after the death.
Dresser Drawer Deed.
A gift of property that is to take effect on the givers death, unless previously revoked. A deed must take effect during the grantors lifetime and will only takes effect upon the death of the person making the will (testator).
Will (Inheritance)
The proof and recognition by the court that the will was real and valid
Probate
After a will has been probated, the blank of the estate begins. The process of managing the estate from death to distribution by executor.
Administration
Once everything is in order, the administrator petitions the court for a blank, which distributes whatever property remains in accordance with the will. This ends the probate process and transfers all property.
Final Decree
When a person dies without a will, or if it is not accepted by the court, this is called blank.
Intestate Succession
Title that can be acquired through foreclosures of mortgages, deeds of trust, mechanic’s liens, materialman’s liens, or liens of judgement, is called blank.
Lien Foreclosure
Title to property may be transferred by sale for non-payment of ad valorem taxes on real property.
Tax Sale
Another means of transferring title to real property.
Court Decree
Often transfers title, particularly where property settlement is involved.
Divorce Decree
Does not ordinarily transfer title, but simply determines that alleged defects in title, or claims to title arising through such defects.
Quiet Title Decree
The court decree actually transfers title, but in other types, title is transferred upon the filing of the declaration of taking or petition for condemnation subject only to a determination as to the amount of damages.
Condemnation Decree
