Chapter 2: Property, Estates, and Ownership

Appurtenance

"belonging to" - Anything used with the land for its benefit. Easements and stock shares are most common

**Types of real property ownership (4)

1. Land 2. Attachments 3. Appurtenances 4. Anything immovable by law

4 Characteristics of tenants in common

1. may take title at different times 2. may take title on separate deeds 3. may have unequal interests 4. have an undivided interest or equal right of possession

Types of tenancy (leasehold interest)

1. tenancy for years - anything with definite end date 2. periodic tenancy - indefinite (usually month to month) 3. tenancy at will - tenant with owner's permission but without rental agreement 4. tenancy at sufferance - tenancy has expired and tenant won't leave

Estates in Fee

AKA fee simple estate - greatest ownership interest you can have in a property. Unqualified, indefinite duration, freely transferable, inheritable. AKA estate of inheritance or perpetual estate because owner may dispose of it in their lifetime or after death by will

Attachments vs Improvements vs Fixtures

Attachments - permanently attached to land, real property of owner Improvements - anything resting on the land (houses, fences, swimming pools, etc); owned as part of the property Fixtures - anything permanently attached, such as a door or cabinet - real property

Types of freehold estates

Estate in fee Life estate

types of estates in fee

Fee Simple Absolute - Estate in fee sold with no conditions or limitations on its use Fee simple subject to condition subsequent (aka fee simple qualified) - seller imposes qualifications or conditions on the buyer

Easement

Interest owned by one person in the land of another person (right-of-way access, etc). The easement is appurtenant to the property

Life Estate

Limited in duration by a measuring life - usually the grantee, but doesn't have to be. Holder of a life estate is called a life tenant, and has all rights except disposal by will.

What does "land" ownership include?

Limited quantities or airspace above, and the materials and minerals beneath the surface (inverted pyramid)

MARIA test of a fixture

Method of attachment - if permanent, real property Adaptation - was it made especially for the property? if so, real property Relationship of the parties Intention - was there clear intention to maintain it as personal property? Agreement of the parties exception: trade fixtures

Fructus Naturales vs Fructus Industriales vs Enablements

Naturales - naturally occuring plant growth, considered real property Industriales - annual crops produced by human labor. Considered personal property even before harvest Enablements are a type of fructus industriales - annual crops cultivated by tenant farmers. personal property of the farmer - not the land owner

**Personal vs Real property

Personal - anything other than real (AKA personalty AKA chattel). Can be sold with bill of sell. Real - land, permanent attachments, anything appurtenant to the land, and anything immovable by law. Usually transferred or sold with a deed.

Trade Fixtures - real or personal?

Personal property, items attached to the real property used to conduct a business. Tenant is responsible for damage but keeps personal property

What 4 things must exist for joint tenancy?

T-TIP 1. Time - become joint tenants at same time 2. Title - take title on same deed 3. Interest - equal undivided interest in property 4. Possession - equal right to possession

**Bundle of rights inherent to property ownership (property rights)

Use Possess - right to live on and keep others out Transfer - right to sell, gift, etc Encumber - right to borrow and use property as collateral Enjoy - peace and quiet w/o aggravation by others

Community property

acquired by a husband and wife during marriage. excludes property owned before marriage, acquired by gift/inheritance, and income derived from separate property

Freehold estates vs less-than-freehold estates

freehold: an estate with indefinite duration

Correlative-rights doctrine

owner may take only a reasonable share of underground water

Separate Ownership

ownership by one person or entity. AKA ownership in severalty - ownership rights are severed from everyone else

Four types of concurrent ownership

property is owned by two or more persons at the same time. 1. Tenancy in common 2. Joint tenancy 3. Community Property 4. Tenancy in partnership

Estate in remainder

remainder - future interest that takes effect upon expiration of life estate. this person is the remainderman

Riparian rights

riparian property owners have reasonable use of flowing water

Reserving a life estate

sell property to developer and reserve right to live there until death

Nonfreehold Estate AKA less-than-freehold AKA leasehold AKA chattels real

tenant's possessory estate in land or premesis. owner of the leasehold (tenant) has exclusive possession and use

Estate

the ownership interest or claim a person has in real property

Joint Tenancy

two or more parties own as co-owners, with right of survivorship, so if one dies the other owns it.

Tenancy in Partnership

two or more persons form a partnership for business purposes. rights of each partner subject to the agreement

Tenants in common

two or more persons have undivided interests (each person has a %, but rights to use the whole property) in a single estate. No owner may exclude a co-owner, nor claim anything exclusively. Can mess around with their share of the property, but can't do anything to affect property without co-consent

Partition Action

when tenants in common do not agree, they can file this asking the court to decide the fate

How are surface water rights defined

whether the water is in a defined channel. floodwater is the water that overflows a defined channel