Chapter Eight - Property Rights in Estates

Riparian

The property borders flowing waters (a river or stream) and doesn’t own the waters.

Littoral

The property borders non-flowing waters (an ocean or lake)

Estate In Severalty

Sole ownership of the bundle of rights. The owner may leave their interest in a will. If the owner dies, without a will, the interest will descend to the owner’s heirs.

Tenancy In Common

A fee estate held by two or more persons. Each person has an undivided interest in the whole property. All owners have equal rights of use and possession. One owner may sell their interest during their lifetime without the consent of the other owners.

Joint Tenancy

A fee estate shared by two or more persons who must have equal and undivided interests. Upon the death of a joint tenant, the interest of the decedent doesn’t pass according to a will or by descent and distribution; it passes instead to the surviving joint tenants.

Tenancy By Entireties

An estate for spouses only. The marriage is considered to be the owner of the property in which each spouse has a right to survivorship. Upon death of one spouse, the surviving spouse will own the property in fee simple as an estate in severalty.

Vested Remainderman

The remainderman is certain to receive the rights, they are a vested remainderman.

Contingent Remainderman

If there is uncertainty as to whether or not the rights will pass to the remainderman, they are a contingent remainderman.

Tenancy-At-Will

A non-freehold estate with the tenant in lawful possession of the property under an agreement with the landlord, but with no definite time limit for the rights to terminate. Can be oral and is terminated at the sale or death of property.

Tenancy For Years

A non-freehold estate with the tenant in lawful possession of the property under an agreement with the landlord for a specified period of time. There must be a definite beginning and ending date. Must be signed in writing and termination can occur by mutual agreement and breach.

Tenancy at Sufferance

Non-freehold estate may be terminated by either landlord or tenant without notice. It's when a tenant occupies a landlord's estate in the absence of any agreement. Usually when a tenant holds over after the expiration of the lease.

Elective Share

Is to prevent a spouse from being harmed by an unfair will. It's not automatic and must be elected by filing with the court within four months of the date of first public notice of administration of the estate.

Erosion

Refers to the loss of soil that is carried away by water washing against a riverbank or a beach.

Accretion

Is an increase in land area as moving water deposits soil in other than its original location.

Freehold Estate

The owner has the complete bundle or rights.

Fee Simple

Has the full bundle of rights but can control the disposition of their property upon death.

Homestead Rights

Applies to the principal residence; protects against foreclosure for unpaid judgements or debts, but NOT for nonpayment of mortgage of property taxes.