Property and Agency Terms

These flashcards cover key terms and definitions related to property law and agency.

Property

Land, buildings, vehicles, machines.

Real Property

Land and things attached to land, like buildings and trees.

Fixtures

An item attached to real property in a permanent way.

Grantor

Someone who gives another person an interest in real property.

Grantee

The person who receives the interest in real property.

Estates

Interest in real property (Real Estate).

Air rights

Ownership of the space above land.

Subsurface rights

Ownership of land beneath the surface, such as mineral rights.

Possessory Interest

Right to possess and use property.

Fee Simple

Highest form of ownership/rights, allows use and transfer of property.

Conditional Estates

Ownership interest that automatically transfers if a condition occurs.

Fee Simple Defeasible

Property ownership that may transfer to another upon a certain condition.

Life Estate

Ownership given to someone for their lifetime, which terminates upon their death.

Leasehold Estate

Limited rights to possess property, cannot transfer or damage, lasts as long as agreed.

Future Interest

Legal right to property or assets that takes effect at a later date.

Right of Reservation

A future interest the original owner may have if the property could return to them.

Remainder Interest

Ownership may transfer to a third party.

Nonpossessory Interest

Right to use property without possession.

Easement

Right to use someone else's land for a limited purpose.

Easement Appurtenant

Right to use an adjacent property for a limited purpose.

Easement in Gross

Right to use someone’s property without owning adjacent land.

License

Permission to use property for a limited time.

Profit

Right to remove something from someone’s land.

Express Easement

Right to use land granted explicitly by the grantor.

Implied Easement

Right to use land inferred through circumstances.

Easement by Prescription

Easement obtained through long-term use without permission.

Tenancy in Common

Co-ownership where each owner has undivided, transferable interest.

Joint Tenancy

Co-ownership where rights pass to surviving tenants upon death.

Tenancy by Entirety

Co-ownership by married couples, where both must agree to transfer ownership.

Encumbrance

Anything that limits someone's fee simple rights to property.

Mortgages

Property used as collateral for a loan.

Tax Liens

Claim for unpaid taxes.

Mechanic Liens

Claim for unpaid contractor work.

Deed

Legal document transferring property ownership.

Warranty Deed

Guarantees property is free of defects or encumbrances.

Special Warranty Deed

Promise you didn't do anything, but can't make promise for previous owners 

Quitclaim Deed

Transfers any interest without guarantees.

Recording Statutes

Laws governing how property documents are recorded.

Race Statutes

First to record has superior rights.

Notice Statute

1^st grantee didn’t record it AND the 2^nd had no idea of prior deed 

Race-Notice Statute

Second grantee must record first and not have prior notice.

Adverse Possession

Gaining ownership of land by continuous, unauthorized use.

Action to Quiet Title

Legal action to resolve property ownership disputes.

Tangible Property

Physical property with a presence.

Intangible Property

Property without physical presence but has personal property characteristics.

Intentional Transfers

Transfers made with the intent to give property (e.g., purchase, gift).

Gift

Transfer of property made without consideration.

Donative Intent

Donor's intent to give property as a gift.

Act of Delivery

The act of physically delivering property to the recipient.

Acceptance

Recipient's acknowledgment of the gift.

Gift Inter Vivos

Gift made during a person’s lifetime.

Gift Causa Mortis

Gift made in anticipation of death.

Lost Property

Property unintentionally left behind.

Mislaid Property

Property intentionally placed somewhere but forgotten.

Abandoned Property

Property intentionally left with no intent to reclaim.

Bailment

Temporary transfer of possession without transferring ownership.

Bailor

The person who owns the property in a bailment relationship.

Bailee

The person who receives the property for safekeeping.

Common Carrier

Transporter of goods for hire with strict liability for damage.

Inkeeper's Statutes

Laws that limit hotel liability for guest property.

Agency

When one person acts on behalf of another.

Principal

The person who allows another to act on their behalf.

Agent

The person who acts on behalf of the principal.

Express Agency

Agency formed by explicit agreement.

Implied Agency

Agency inferred by conduct.

Agency by Ratification

Principal accepts an act done by someone not originally an agent.

Agency by Estoppel/Apparent Agency

Principal causes a third party to believe an agent exists.

Scope of Agent’s Authority

The range of duties an agent is authorized to perform.

Respondeat Superior

Principals are liable for agents’ torts within their scope.

Vicarious Liability

Holding someone responsible for another’s actions.

Frolic

Substantial departure from the agent’s duties, making the principal not liable.

Detour

Minor deviation from duties, making the principal liable.

Dual Purpose Mission

Principal is liable for torts committed while agent is performing personal business.

Coming and Going Rule

Principal is not liable for torts committed while agents are commuting.

At-Will Employment

Employment can be terminated at any time by either party.

Protected Class

Characteristics that cannot be discriminated against in employment.

Title VII

Prohibits employment discrimination based on certain protected characteristics.

Disparate Treatment

Discriminating against individuals based on a protected characteristic.

Disparate Impact

Employer practices disproportionately affect a protected class.

Constructive Discharge

When an employer creates an intolerable work environment leading to resignation.

Harassment

Offensive behavior based on protected characteristics.

Hostile Work Environment

A work environment filled with harassment.

Retaliation

Punishing employees for opposing discrimination or participating in investigations.