Real Property and the Law

Flashcards covering key vocabulary related to real property and the law, based on lecture notes.

Land

The earth’s surface, its subsurface extending downward, and the air space above.

Physical characteristics of land

Immobility, indestructibility, and nonhomogeneity (uniqueness).

Subsurface rights

Rights to mineral rights and other natural resources below the surface that can be leased or sold separately.

Air rights

Rights that can be sold separately from surface rights, with limitations to enable air travel.

Water rights

Rights held by owners of land adjacent to rivers, lakes, or oceans.

Fructus naturales

Things naturally attached to land, such as trees and crops that do not need cultivation.

Fructus industriales

Perennial crops, orchards, and vineyards.

Real estate

Land and all things permanently attached or annexed to the land.

Real property

Interests, benefits, and rights automatically included in the ownership of land and real estate.

Bundle of legal rights

Rights of possession, control, enjoyment, exclusion, and disposition.

Title

The right to ownership of real property and the evidence of ownership, usually a deed.

Appurtenance

A right or privilege associated with real property, such as a parking space or an easement.

Riparian rights

Rights belonging to owners of land along a flowing body of water.

Littoral rights

Rights belonging to owners of land bordering a commercially navigable lake, sea, or ocean.

Doctrine of prior appropriation

Doctrine where water use is controlled by the state, requiring beneficial use for use of water.

Economic characteristics of land

Scarcity, improvements, permanence of investment, and area preference (situs).

Personal property (chattel)

Movable items; annual plantings; items of real property that can be severed; items of personal property that can be annexed; and factory-built homes not permanently affixed.

Emblements

Annual plantings or crops of grains, vegetables, and fruit (synonymous with fructus industriales).

Fixture

Personal property affixed to land or a building that becomes part of the real property.

Legal tests for a fixture

Method of annexation, adaptability, relationship of the parties, intent, agreement of the parties (MARIA).

Trade fixtures

Property attached to a structure used in the course of business; may be personal or real property.

Accession

Acquisition of trade fixtures by the landlord if left behind by the tenant.

Avulsion

the sudden removal of soil by an act of nature is called

The definition of real property

the phrase bundle of rights is properly included in

Improvement

any artificial thing attached on or below ground, such as buildings, fences, sewer piper, roads, trees, shrubs, and other growing things apart of landscaping.

National Manufactured Housing Construction and Safety Standards Act 1976

The term mobile home was phased out and replaced by manufactured home with passage of the

Chattels

chairs, tables, clothing, money, bonds and bank accounts

severance

the act of separating personal property from the land

Surface rights

ownership rights in a parcel of real estate that are limited to the surface of the earth are called

accretion

increases in the land resulting from the deposit of soil by the water’s action

Erosion

the gradual and sometimes imperceptible wearing away of the land by natural forces (wind, rain, flowing water)

Environment law

Disposition of hazardous materials found on a property

Zoning law

Regulations on use of land

Real estate license law

requirements to become a real estate professional

Agency law

representation of clients

Federal tax law

Deduction of interest paid on a home mortgage

Contract law

agreement between the parties in a real estate brokerage, agency relationship, or transaction