****ING LAW FINAL IM GONNA KMS 19,20,21,22

What is real property?

Includes not only the surface of the earth but also the water and minerals on a below the surface. It also includes anything permanently attached to the land, such as buildings.

What is tangle personal property?

Property that is mobile (can be moved) such as a car, clothing, furniture etc

What is intangible property?

Patents, copyrights, trademarks, and trade secrets (intellectual property)

What is copyright?

protects the creative work of an author, artist or composer. Copyright owners have the exclusive right to reproduce, sell, perform, or display work and last for the life of the creator plus 70 years. (This is why anyone can play Mozart's music for free, but Justin Bieber must get paid).

What is trademark?

Word, mark, symbol that identifies a product of a particular manufacturer of merchant. The mark must be unique. (Thing about the "golden arches" of McDonalds or the Nike "swoosh")

what are patents?

Exclusive right to make, use, and sell a novel or new, non-obvious useful product or process. Registration is required and the duration lasts 17 years. Famous example: Alexander Graham Bell's invention of the telephone.

What are trade secrets?

Commercially valuable information that the owner attempts to keep secret. An example would be KFC's "secret recipe" for the fried chicken.

How is property acquired?

By contract, requiring ownership by gift from a donor, Accession, You can acquire person property rights by original production, Finding personal property, Ownership by Inheritance

what does acquiring property by contract mean?

Purchasing property for consideration

what does acquiring property by gift mean?

Acquiring ownership by gift from a donor (giver) to the donee (receiver of gift). Transfer of ownership occurs via transfer of possession. A promise of a gift does not transfer ownership.

What does acquiring property by accession mean?

Owner of property has right of a natural or manmade increase in value. (Puppies born from your dog, or apples from your apple tree that you planted years).

What does acquiring property by person property of original production?

You can acquire person property rights by original production, like the Rebecca Black's song "Friday". She owns the rights to that song.

What does acquiring property by finding personal property mean?

If you find CA recyclable bottles on the street, you can take possession of this property. However, "lost property" losing your wallet in the street is still your property. A finder must make a reasonable effort to find the owner of the property. If the true owner can't be found, the finder becomes the owner. Mislaid property is intentionally placed somewhere but then forgotten (leaving your coat in the movie theater after watching "The Avengers"), The finder of the coat would be required to turn it over to the movie house.

What does acquiring property by ownership by inheritance mean?

Both real and personal property can be acquired this way. If your uncle IP Freely dies and leaves you a house in Elko Nevada and a tractor, title (ownership) passes to you.

What are the types of property ownerships?

Ownership in severalty

CO-OWNERSHIP

joint tenancy

tendency in common

community property

where ownership in severalty?

Someone owns property by his or her self. This is most common for personal property ownership.

What is co-ownership in Joint Tenancy?

equal ownership of the same property with the right of survivorship. If one dies, his or her share passes to the other owner. This happens regardless of the will!

what is co-ownership in tendency in common?

Ownership shares can be unequal, but there is no right of survivorship. Ownership of the person who died passes to his or her heirs as stated in the will.

what is co-ownership in community property?

All property acquired by husband and wife during their marriage is presumed to be community property. Each spouse owns one-half interest in such property. California is a community property state.

What is bailment?

is the transfer of possession and control of goods (personal property) without the transfer of ownership. In essence, it is the law of "borrowing". The goods must be returned.

What is Bailor?

is the party who gives of possession

what is a bailee?

is the party who accepts possession and control.

What are the four characterisitics of bailments?

1) The subject is personal property

2) The transfer is temporary possession

3) The transfer of temporary control

4) Both parties intend return of the goods

What are fungible goods?

There is no difference between one unit of goods and another. Example: You are a farmer and you store 1000 pounds of harvested wheat in the county storage silo. When you get your wheat back to sell to a vendor, it is not necessarily going to be your 1000 pounds of wheat since it is mixed with wheat from other farmers.

what are the different levels of care provided by the bailee?

Mutual-Benefit Bailment

Gratuitous bailment for the sole benefit of the bailor

Gratuitous bailment for the sole benefit of the bailee

What is mutual benefit bailment?

both the bailor and bailee give consideration; the bailee is required to provide ORDINARY CARE during possession.

What is the gatutious bailment for the sole benefit of the bailor?

MINIMAL CARE (bailee must not ignore, waste, or destroy property, but little regard for protecting the property is needed).

What is Gratuitous bailment for the sole benefit of the bailee?

EXTRAORDINARY CARE must be provided by the bailee. The bailee will the strictly liable for any damage or loss to the goods. (Note that common carriers such as UPS and hotels have to provide extraordinary care as well).

What is a disclaimer?

A disclaimer is a sign, label, or warning reducing the bailee's duty of care. However, courts often find disclaimers to be unenforceable - particularly if the bailee was negligent in providing care.

What are involuntary bailments?

Rise without the consent of the bailee. For example, if you throw your "Frisbee" and the wind carries it into your neighbor's back yard, an involuntary bailment exists. The neighbor must exercise minimal care.

What is real property?

Real Property includes the land, thinks permanently attached to land, and certain rights to use the land of others. Certain rights included right to air space (with some limitations), mineral rights (extracting oil), water rights (a huge issue in California!).

When does personal property become real property?

Normally, fixtures (when personal property is permanently attached to realty) become real property (like ovens and dishwashers). If you sell your home, these items must stay unless specified in the contact that you can remove them.

Are trade fixtures real or personal property?

Trade fixtures for a business are treated as personal property (can be removed) since they are not intended to be permanent. (If a Starbuck's moves to a new location, they take the attached equipment).

What is Conveyance?

When real property ownership is transferred, the estate is transferred from a grantor to a grantee by deed.

What are the types of deeds?

Quitclaim deed

Warranty deed:

What is a quitclaim deed?

Transfers interest the grantor may have in the real property, but doesn't guarantee the transaction. A grantee has no legal claim against the grantor based on a quitclaim deed. (You better determine if the grantor is the actual owner - so I suggest not using quitclaim deeds in the real world, unless a transfer amount family members).

what is a Warranty deed?

Protects the grantee by providing several enforceable grantor's warranties. This is how you want real estate transferred to you!

what is it called when you acquire an estate with all ownership?

When you acquire an estate with all ownership rights it is known as fee simple absolute.

What is adverse possession?

If a person adversely possesses real property of another party in an open a notorious way for a long period of time, he/she can claim title (ownership) of the property. In California, the time of control of the real property is 7 years. Example: If a neighbor builds a fence is partially on your property and you do nothing about it, you can lose ownership of the property on his/her side of the fence.

what is dedication?

Giving real property to the government for a specific purpose. The government must comply with your wishes. Therefore, if you dedicate land for a park, and the government sells the land to a developer, you can reacquire the land.

What is Eminent Domain?

The power of the government to take private property for public use in exchange for the fair market value. If the owner is unwilling to sell at a fair price, the government can force a sale. Examples of the use of eminent domain are needed private land for highways and schools.

What are easements?

Rights to some limited use of another's land. Easements may be granted to allow a neighbor to drive across your land or for a utility company like PG &E to maintain power lines.

What are zoning ordinances?

Zoning ordinances adopted by the city or county can restrict the owner's use of his/her realty. For example, they are typically areas of a city that are zoned for residential, commercial, or industrial use. Sometimes areas are zoned for combination use, like Santana Row (used for both commercial and residential).

What is the difference between tendency for years and (period tendency) month to month?

tendency for years means the lease lasts a year or more and if you don't renew the lease you moveout when it is over without needing to inform the landlord

tendency month to month, by contract you have to inform your landlord (usually the notice of termination must equal the length of the payment period)

can security deposits be legally used to pay unpaid rent?

No, security deposits can't legally be used for unpaid rent.

What do you normally pay to the landlord before moving in?

Security deposit + first and last months rent.

.____________________ are goods where there really isn't a difference from one unit to another

Fungible goods (wheat/rice)

_______________ is when someone forgets where one intentionally placed personal property

Mislaid

Bailments for the sole benefit of the bailee require ___________ care

Extra Ordinary

Easement may be granted to allow limited use of another's property True or False

True

"Disclaimers" are often not enforceable by the courts True or False

True

The promise of a gift creates a legal obligation True Or False

false

The bailor is the party who gives up possesion of property and the Bailee is the party who accepts possession and control True or False

True

Property can be tangible or nontangible

True or False

true (right)

The buyer of real property usually purchase the surface rights of the land True or False

True

Bailments for the sole benefit of the bailor require ________________ care

Minimal

_____________________________ is a form of ownership w/the right of suviorship

Joint tendency

common carriers and hotels mus use __________________________ care when goods are bailed

Extra Ordinary

_____________ are not renewable True or False

Patents

_____________________ is when the gov't power takes private property for public use and pays fair market value for the property

Eminent Domain

A __________ gifts something of legal value

donor

Mutual benefit bailments require a duty of _____________ care

ordinary

You're flying your Charmander doll and it blows into the neighbor's backyard. What type of bailment is created?

ilvoluntary Bailment

What is acession?

Is ownership acquired by natural or man-made increases to personal property

What is a warranty deed?

best type of deed to use when acquiring real property

What type of intelectual property cannot be copyrighted?

Trade secrets (Krispy cream recipe idk)

_____________________ in severalty is the indivdual exclusive owner of property

Ownership

What does ownership in severalty mean?

Exists when someone owns property by theme selves

- usually personal property

What does co-ownership mean and what are the types of co-ownerships?

Co ownership exists when two or more persons have ownership rights in the same property

-joint tendency

-tendency in common

-tendency by the entrities

- community property

What does right of partition mean?

Allows any co-owner to require the division of the property among the co-owners

Joint tendency

Is the equal co-ownership of the same property with the right of survivorship