be on Test-What means personal property: Chattel,

Chapter 2 Terms (Property Ownerships and Interests) Flashcards Subsurface and Air Rights-Subsurface Rights- Rights of ownership below your land.-Air Rights- Rights of ownership of the air above your land.-"You do not have the right to restrict the air craft."Read Page 22 Random Facts-(Chord of Wood) is another saying for "Firewood" (could

be on Test)-(What means "personal property"): Chattel,

Personality, Emblements, Fructus Industriales.Trade Fixtures differ from other types of fixtures in three

ways:

1- Fixtures are part of the real property and belong to the owner of that property. Trade Fixtures are usually owned and installed by a tenant for personal use and remain the tenant's personal property.2-Fixtures are considered a permanent addition to a building, but trade Fixtures are removable. Trade Fixtures may be attached to a building in the same manner as other fixtures. However, due to the relationship of the parties (landlord and tenant), the law gives a tenant the right to remove trade Fixtures, provided the removal is completed before the term of the lease expires and the rented space is restored to approximately its original condition .3-Because Fixtures are legally construed to be real property, they are included in any sale or mortgage of the real property. Trade Fixtures are not included in the sale or mortgage of real property except by special agreement because they are considered to be personal property of the commercial tenant.Trade Fixtures that are not removed at the end of the lease become the real property of the landlord. Acquiring the items in this way is known as, "ACCESSION".Read example on Page 27 Littoral Rights (water)-Rights of ownership -Oceans/Large lakes: Littoral Owners."Own to high average water mark."-Foreshore owned by

NC (Public).-Navigable: To The water's edge (Mississippi

River).-Non-Navigable: To the middle of the creek or

stream.-Closely related to riparian Rights are the littoral Rights of owners who's land borders oceans and large, navigable lakes that have a tide. Owners with littoral Rights enjoy unrestricted use of navigable waters but own the land adjacent to the water only up to the mean high-water mark.All land below this point is owned by the government. (The strip of land between high and low tide lines, called the "FORESHORE", belongs to the state of NC). This makes a portion of every beach in NC a public beach under the public trust doctrine.-Western states follow the "DOCTRINE

OF PRIOR APPROPRIATION" rather than the riparian doctrine of water use. Prior appropriation doctrine states that water rights are determined by priority of beneficial use. This means that the first person to use water or divert water for a beneficial use or purpose can acquire individual rights to the water. Thus property owners may have land that borders water but no rights to use that water.-Riparian and littoral Rights are appurtenant (attached) to the land and cannot be retained when the property is sold. This means that the right to use the water belongs to whoever owns the bordering land and cannot be retained by a former owner after the land is sold.How do you gain or lose land?(A-R-E-A)-Accretion: Deposit of soil.-Reliction:

Receding of water.-Erosion: Wearing away of

soil.-Avulsion: Sudden gain or loss of soil.-The boundaries

of land can be affected by the natural action of the water.An owner is entitled to all land created by "ACCRETION", or gradual increase in land resulting from the deposit of soil by the water.-If water gradually recedes or disappears permanently, new land is acquired by "RELICTION".-"EROSION", the gradual wearing away of land caused by flowing water or other natural forces, may cause an owner to lose land. When a sudden act of nature such as a flood or avalanche removes soil, this is known as "AVULSION". Loss of land by avulsion does not change the property boundaries, so the owner has the right to reclaim the lost land.Fixtures-WAS previously personal property.-Has become real property. (Through annexation).-An item that was once personal property but has been so affixed (or attached) to land or a building that the law construed it to be part of the real estate is a FIXTURE.-Examples of fixtures are heating plants, elevator equipment in high rise buildings, kitchen and bathroom cabinets, light fixtures, and plumbing fixtures. If an item is a fixture, it automatically transfers with the property unless excluded by either party to the contract.As a matter of fact, almost any item that has been added as a permanent part of a building is considered a fixture.Agricultural Fixtures-Agricultural Fixtures: Considered real property.-Example: If you bought a chicken coop, it must remain WITH the real

property after the lease expires. (Considered real property) (Must stay).-While Fixtures used in a farming operation would seem to fall into the category of trade Fixtures, Agricultural Fixtures are considered real property rather than personal property. Therefore, in NC, if a tenant farmer installed feeding troughs during the tenancy, they would be considered real property and could not be removed by the tenant at the end of the lease without special written agreement.

Appurtenances-A right, improvement, benefit, or privilege that passes with ownership or runs with the land.-Can be transferred separately from the ownership of the land.-A right or privilege that goes with the ownership of land.-Examples of these rights include subsurface rights (such as mineral rights), air rights, and water rights. The land may benefit from an Appurtenant Easement. An "improvement" to the property, whether utility lines or a residential dwelling, is also considered an appurtenance. The protective benefit of restrictive covenants also "runs with land". An appurtenance is generally transferred with the property when it is sold to the new owner.Support Rights-The owner of real property has the right to "LATERAL SUPPORT", or the right to have adjacent property support the natural boundaries of the land. Therefore, construction or excavation on a neighboring property should not cause the soil on the owner's property to subside.-Occasionally, the land owner severs the subsurface rights from the land and sells them. In such a situation, the property owner is entitled to "SUBJACENT SUPPORT", for the surface of the property from the owner of the subsurface rights. As an example, any underground mining projects must assure continued support of the land's surface.Annexation-When originally personal property is converted into real property. (When plants/bushes are planted) They have become permanent improvements on the land Trade FixturesThis section of the form also permits the parties to negotiate additional items; to delete items which the seller does not wish to include; and to except any items that are not owned or may be leased by the seller. The seller also declares that the items that are included as fixtures are free of liens. In another section of this contract, the seller is required to remove unwanted personal property and other

"debris" at closing.-Trade Fixtures: An article owned by a

tenant and attached to a rental space or building for use in conducting a business, is a "Trade Fixture" or a "Chattel Fixture". Examples of trade fixtures are, bowling alleys, store shelves, bars, and restaurant equipment, dental equipment, shelving, counters-In other words, "Tools of the Trade".Riparian Rights-Riparian Rights are granted to owners of land located along the course of a river, stream, or lake. Such an owner has the unrestricted right to use the water, provided such use does not harm owners upstream or downstream by interrupting or altering the flow of the water or by