part 1 & 2: real property, encumbrances, contract basics

Accretion

Increase of land deposited due to natural causes

Affidavit of Affixture

A document to make mobile manufactured homes real property

What must be surrendered to make a mobile or manufactured home real property?

Vehicle title

An affidavit of affixture must be what

Recorded

Air Rights

Rights above the property

Incorporal rights, relationships, and privileges (intangible) include;

Mineral rights, air rights, riparian rights, easement, herdiment, bundle of rights

Transferred with the lands, the improvements and rights (runs with the land)

appurtenances

what are the two categories appurtenances?

Caporal real estate (tangible)

Incorporal rights, relationships, and privileges (intangible)

Personal property is transferred by what

Bill of sale

The bundle of rights is an example of Caporal or incorporeal appurtenance

incorporeal: The rights, relationships, and privileges

( Intangible appurtenance)

The bundle of rights describes:

All rights and owner has on real property

The bundle of rights is described by what five traits (DEEP C)

Disposition- The right to transfer all or some rights

Exclusion- The right to stop others from using or entering property

Enjoyment-

Possession- The right to physically occupy the land

Control- The right to physically alter or change property

Under the bundle of rights: Disposition means

The right to transfer all or some rights

Under the bundle Of rights: Exclusion means

The right to stop others from using or entering the property

Under the bundle of rights possession means

The right to physically occupy the land

Under the bundle of rights control means

The right to physically alter or change the property

Condemnation is

The legal process of taking property

With condemnation, the property owner must been giving how many days notice of pending litigation

20 day notice- Includes appraisal and written offer to purchase for just compensation

What’s included in the 20 day notice of pending litigation for condemnation

Appraisal and written offer to purchase for just compensation

Condemnation falls under what government authority rights (hint: P. E. T. E.)

Eminent domain

The process of changing real property to personal or personal property and a real property is called

Conversion a.k.a. to convey

Another Word for conversion is

To convey

In relation to conversion what are the two ways to convert personal and real property?

Severance and annexation

Converting real property to personal property by detaching is called

Severance

Converting personal property into real property by attachment is called

Annexation

Improvement such as buildings, fences trees, sidewalks, and plants (fructus naturales) Is considered

(Hint: Appurtenance: The improvements transferred with the land- tangible or intangible)

Caporal real estate

The transfer of privately owned land to the public, with the intent that the land will be accepted and used for public purpose purposes

Dedication

The deed is

A written document by property owner as grantor conveying to a grantee ownership interest in real property

The two parties to a deed

The grantor & grantee

In relation to the deed, the grantor:

Gives the deed (seller)

In relation to the deed, the grantee

Receives the deed (buyer)

In relation to the deed, the grantor is the buyer or seller

Seller- gives deed

In relation to the deed, the grantee is the Buyer or seller

Buyer- receives the deed

An annual crops and plants known as frutus industriales Are known as

Emblements

emblements (rights)

The right of a tenant farmer to re-enter the land to harvest his crops once the lease has expired

Emblements are known as personal or real property

Personal property

Eminent domain is

The right of the government to take ownership of private property For public use with just compensation

Is eminent domain voluntary or involuntary?

Involuntary

Dedication the gift of private Property for public use is voluntary or involuntary

Voluntary

What is the difference of erosion vs avulsion

Erosion is the gradual wearing of soil

Avulsion Is the sudden separation of land due to natural causes

Land may increase or decrease due to:

(Three examples)

Erosion, avulsion, accretion

Escheat

Reversion of property to state when someone dies inestate (with no will) And no heirs

Of the four government authority rights if somebody dies with no will and no heirs and the state sells the property. This is referred to:

(Hint: PETE

escheat

What are Four economic characteristics of land

Scarcity modification, fixity, situs

Describe the four economic characters of land

-scarcity means limited amount

-Modification means value can be increased by improvement

-Fixity means the investment is fixed and movable. The capital is locked down.

-situs is referring to human preference that drives value of location

Fixtures are

An item or items that was once personal property that’s been attached permanently and has become real property

The legal test to determine if an item is a fixture can remembered by the acronym MARIA.

Describe each

Method of attachment

Agreement of both parties how the item is treated

Relationship to item is it needed for health or welfare?

Intent of the annexor is it for personal use or improvement?

Adaptation, what’s the purpose? Is it for personal use or improve improvement?

What is never a factor when determining if an item is a fixture

Cost

Herediment is

(Incorporate right- appurtenance)

The right to transfer ownership to heirs

The physical characteristics of land are

(3)

Fixed-Immovable location

Heterogeneity(Non-homogeneous) No, two parcels of land are exactly the same uniqueness

Indestructible

Heterogeneity or non-homogeneous In reference to land means

No, two parcels of land are exactly the same

Personal property is defined as

Movable property not attached to land

Chattel property is personal or real property

Personal- it’s property that’s being leased not owned

Emblements, chattel real, and trade fixtures are examples of what type of property

Personal property

Trade fixtures are personal or real property

Personal property of a Business tenant

(Shelves/counters)

Trade fixtures may or may not be moved before the end of lease

May be moved- remaining personal property

If trade fixtures are not moved by the end of lease, they become property of the landlord. True or false

True

What are the four government authority rights?

(Hint: PETE)

Police power

Eminent domain

Taxation

Escheat

Police power is the right to what?

The right to enact and enforce laws for the health and safety and welfare of the public

Zoning laws health codes building codes are example of what government right

Police power

Real property is defined by

The land and everything attached to it

(Tenements)

Land is considered personal or real property

Real property

The deed is for personal or real property

Real property

Appurtenance is transferred with

The land

Appurtenances fall under real or personal property

Real property

Fixtures once attached are considered personal or real property

Real property

Riparian rights are

The rights of property adjoining a river or stream to the land beneath the water or water itself

What does situs mean

Location, location, location, the human preference that drives value in relation to location

Subsurface rights mean

Right transferred with real property

Government authority rights That taxes against real property for municipal function like schools, libraries, police, and fire department is referring to

Taxation

On real property, the land and everything attached to it is called

tenements

The Tangible appurtenances Such as improvement like building fences trees, sidewalks, and plants are referring to

Corporeal real estate or incorporeal rights, relationships, and privileges

Corporeal Real estate

Is Caporal real estate, tangible or intangible?

Tangible

Eminent domain is the:

Condemnation is the:

Eminent domain is the: right or power

Condemnation is the: Action or process

Zoning ordinance, building codes, subdivision regulations, environmental laws are examples of

Police powers

Fixity means

No liquid Assets it takes time to convert cash without losing principle investment. The investment is fixed in immovable and capital is locked in.

Revenue generating laws for municipal function

(PETE)

Taxation

Intestate means:

(In reference to escheat)

When someone dies without will

How long after escheat of private property does one of the heirs have to claim the proceeds of the sale

7 years

AZ 811( blue stake )

When planning to dig in Arizona location underground utilities may be marked by calling 811

Land development and zoning is regulated through

Police power

An area separating two incompatible zones from each

Buffer zone

A set of construction requirements

Building code

Building envelope

Site plan

Building codes

The building footprint outlines

The structure

The building envelope Shows all components that make up the shell or skin of the building and separates the

Inside from outside

The general plan is

Long Grange governmental plan to regulate and develop property in an orderly manner

The master plan community is a

Large scale residential plan

Planned Unit Development (PUD)

And a master plan community a chain of title is

A record of ownership

And a master planned community, the master deed

divides the master plan into lots for development

Zoning ordinances are passed by

Police power

Local jurisdiction

AZ dept RE

Local jurisdiction

True or False: public hearings must be held to enact zoning ordinances

True

Preservation of natural environment

Natural Area Open Space (NAOS)

Non-conforming use is a use that predates ordinance. This is also known as:

Grandfathered

Non-Conforming use may continue but not expand, if the structure is destroyed it can’t be rebuilt. true or false

True

Natural area open space Is considered a type of

Easement: Right across another’s land for specific use that benefits the easement holder

Large residential plan with large number of recreational Amenities is a

Master planned community

What does the Declaration of CC&R’s do

The conditions, covenant and regulations it’s what gives authority to the HOA to maintain rules and regulations

Within how many days of written receipt of written notice of pending sale the buyer must be provided with all the hoa info

10 days

In a planned community if there are less than 50 units who must provide the hoa info

Seller

An area of land set off by municipal authorities for specific use is called:

A. Public improvement

B. Zone

C. Territory

B. Municipalities are divided into ZONES for the purpose of defining use