Real Estate Property Law

Fructus Industriales

"Fruit of Industry" Farmer has right to harvest crops after lease ends

Fructus Naturales

"Fruits of Nature" Permanent planting such as flowers, trees, bushes classify as real property

Encumberance

A mortgage or other charge on property or assets

Chattel

Another name for Personal property that may or may not transfer with land

Easement Appurtenant (Dominant Estate)

Benefiter (Receiver)....The landowner that benefits from an easement to use neighbors land to access his property.

Easement Appurtenant (Servient Estate)

Burdened (Server.)... The land is subject to use by easement (Sure bitch use my land)

Heterogeneous real estate

Every piece of real estate is unique

Fixtures

Former personal Property that automatically conveys

D

Former personal property that automatically conveys is most likely? A) occur only by agreement B) be a chattel C) be a trade fixtrue D) be a fixtrue

Remainder Estate

Is a future interest given to a person (who is referred to as the transferee or remainderman) that is capable of becoming possessory upon the natural end of a prior estate

Easements in Gross

Is a legal right to use another person's land for as long as the owner owns that land or the holder of the easement dies

Life Estate

Is the ownership of land for the duration of a person's life

Easement Appurtenant

Limited right of one landowner to use the adjoining land of another for a specific purpose.

Easement

Limited right to use the land of another.

Checks -> Townships -> Sections (Government survey Method)

Measured rectangles formed by intersections between principal meridian and base lines.. (24 miles per side)(6miles per side)(1 mile per side) respectively

Metes & Bounds

Measuring land. Especially irregularly shaped land in which case a point of begining (POB) is marked with a stake and ends at POB

A

Mr. & Mrs. Jones sold their home to a church, but retained the right to occupy the property as long as they lived. The interest of the church is that of a: A) remainder estate B) life estate C) reversion estate D) trustee

C

Mrs. Franklin is buying property from My. Akin. In order to get the property, it is necessary to cross property owned by Mr. Travis. In the past, Mr. Travis has granted permission to Mr. Akin for this purpose. Mrs. Franklin wants to protect this privilege. What would best serve Mrs. Franklin's interests? A) an easement in gross B) a license C) an appurtenant easement D) either 1 or 3

License (Use of Land)

Personal privilege granted by one person to use the property of another. Does not transfer with land and can be revoked at anytime.

Trade Fixtures

Personal property installed by tenant in connection w/ his trade or business that will become real property if not timely removed

Reversion estate

Property or estate ownership that reverts back to the grantor after a temporary ownership period. For example, a child may give his or her parents a home with the condition that when the parents pass away the child takes back ownership

Base Lines

Series of Imaginary lines running east-west which intersect the principal meridians for the purpose of surveying land

Principal Meridians

Series of Imaginary lines running north-south across the United States for the purpose of surveying land.

Enroachment

intrusion on a person's territory, rights. (loud music, overhanging branches, bright lights, trespassing)

Pur Autre Vie

s a duration of a property interest. While it is similar to a life estate, it differs in that a person's life interest will last for the life of another person instead of their own.