Property Law Study Guide

Vocabulary flashcards covering key terms and concepts in Property Law, based on provided lecture notes.

Real property

Land, anything growing or built on it, and rights of ownership/use.

Personal property

All other property, tangible or intangible, not permanently attached to land.

Bailment

Delivery of personal property into another’s possession without transferring ownership.

Intellectual property

Protected creative/scientific expressions (patents, copyrights, trademarks).

Tangible property

Physical, movable items (e.g., cars, furniture).

Intangible property

Rights without physical substance (e.g., contracts, stocks, bonds).

Fixtures

Personal property attached to real property, treated as part of it.

Trade fixtures

Items installed by tenants for business use that may be removed but require repair of damage.

Accessions

Adding value to property by labor or materials, with varying outcomes based on good or bad faith.

Confusion

Mixing goods of different owners where wrongful mixing grants innocent owner title.

Lost property

Property accidentally left behind; the finder is a bailee, but the true owner retains title.

Mislaid property

Property intentionally placed and forgotten; the premises owner becomes bailee.

Abandoned property

Property discarded with no intention to reclaim; first possessor gains title.

Intestate succession

Transfer of property by inheritance when someone dies without a will.

Bailor

Person who transfers possession of personal property for a bailment.

Bailee

Person who accepts delivery of personal property for a specific purpose in a bailment.

Mutual benefit bailment

Bailment where both bailor and bailee benefit, requiring ordinary care.

Community property

Equal ownership of property by spouses in certain states.

Fee Simple Absolute

Full ownership of property without conditions.

Easement

Limited use of another’s land, which can be appurtenant or in gross.

Life Estate

Interest in property lasting for one or more human lives, reverts after death.

Tenancy at sufferance

Tenant remains in property after lease expiration, often converting to periodic tenancy.

Invitee

Business visitor owed a duty of reasonable care against hidden dangers.

Licensee

Social guest owed a duty to warn of known dangers.

Trespasser

Person on land without permission; owed a duty not to intentionally harm.

Strict liability

Legal doctrine that holds parties responsible for damages irrespective of fault.

Implied covenants

Unwritten guarantees in leases, including the right to use the property and the landlord's obligations.

Patents

Exclusive rights granted for inventions.

Copyrights

Rights granted for original works of expression.