on demand: Property rights Flashcards

on demand: Property rights Flashcards

Vertical Interestsair rights and mineral rights (Air lots) what states typically use riparian rights eastern the public has an easement over the land between high and low water lines.... aka

tidal flats (note: this is ONLY in MA)

Personal PropertyAny property that is not real property. which is anything not associated with the land- personalty, chattel, moveable property US vs Causby80-500t air rights depending on where u live determines air rights, living close to airport u may only get 80 ft but far away from airport cld be 500t, navicable air space Trade FixturesPersonal property used in a business and can be removed by the lessee when the lease terminates.which river rights are considered for the 13 colonies?riparian rights EmblementsGrowingcrops, such ascorn, that are producedannuallythrough labor and industry; also called fructus industriales.is a chandelier real or personal?real; is attached to house examples of personal propertycar, tv, boar, cellphone, dining table, rv, computer whats a good question to ask yourself when determining if real or personal property?can it be moved easily? if it can then its personal real or personal? microwaveif built into wall then real property; unattached then personal property custom blinds with attached rods and then curtains real or personaL?Rods are attached so real and then curtains are personal but this should be disclosed in contract real property is transferred with...a deed (receipt for real estate) propertyanything subject to ownership personal property excall phone, car is a shed built on property real or personal? real (but if u buy one from home depot it is personal) what are the two ways of changing property types annexationseverance Bundle of RightsRight of Possession (own it)Right to control it (use it)Right to Enjoyment (use it in any legal way)Right of Exclusion (limit access to)Right of Disposition (rent, sell, will) navigablewide or deep enough for ships to be able to pass through (accretion line) BOATS can drive through two exceptions to the rules of real vs personal prop?trade fixtures = business property= personal property- installed for specific business use (commercial)ex. jewelry display casesemblements= annual or semi-annual crops= personal property- planted w/ the expectation of being harvester/ pulled from the landex. corn or wheat real or personal? lightbulbs in the fixtures probably more personal property

real or personal? corn croppersonal deed conveys a legal title (ownership)... what does convey mean in this context transfers Personal vs. Real Property1. attachment: is the property permanently attached to the land? (ex., by nails or roots) (directly/ indirectly)2.

adaptability: was it custom-built to it? (or does it fit

anywhere?)3. intention: what was the intent of the person

who installed the property? (real or personal) *usually more

critical for trade fixtures4. agreement: buyer and seller

agree to treat a piece o property as real or personal regardless of what it actually is= this over rides other

tests*statute o frauds: real estate contracts in writing

agreements should be in writing Extended Land Rightschimney, garden, septic, air rights etc Fixturesitems of personal property that are attached or annexed to real property; things attached to property so indirectly attached to land; individual improvements real estate is conveyed via a(n)a) bill of saleb) purchase and sale agreementc) offerd) deed

• deed

Accretion line synonym (rest of states other than MA)"high tide" Non-navigableOwner owns this water underneath and to the middle of the waterway NO BOATS Solid mineral examplesgold what states typically use doctrine of prior appropriationwestern states Accretion lineThe water's edge; often the mean high tide line Littoral RightsThe right of a property owner whose land borders on alarge body of water,such as alake, ocean or sea,to reasonable use and enjoyment of the shore and water the property borders on.tamara finds out that theres oil under her property. if she lives in a state that governs liquid mineral rights by utilization pooling, does tamara own the oil?a) yes, she does own a percentage, but it's shared w her neighborsb) no, but she does have a right to collect the oilc) yes, but to harvest the oil she needs an implied easementd) no, she only has ownership over solid materials

• yes, she does own a percentage, but it's shared w her

neighbors real or personal? shed built from ground real appurtenancean extension outside the bounds of the property itself liquid mineral examplesoil, gas who owns the right to gold at 39 ft under property?30 ft below prop line is a land/surface right but mineral rights go to the earths core. do you own it? yes. (liquid minerals follow under diff rules) real or personal? fridgepersonal Two ways of dealing with liquid mineral rights 1.doctrine of capture2. utilization pooling

Doctrine of Prior AppropriationThe theory that whoever begins using the water first, has the right to continue using the water"first come first serve"used for water rights in Western states can bundle of rights be given partially? can give some parts but not all(ex. leasing an aprtment) Emblements are real or personal property? do they tranfer when house is sold?personal and no they do not two major types of propertyreal propertypersonal property riparian rights=- rivers (running water, streams, brooks)- used only in the original 13 colonies (MA)(also RI, NY... placed began to start creating the United States... mostly eastern states) severance= real property becomes personalex. digging up a tree

riparian rights are MOST likely to be followed in:a) states

where water is scarceb) the original thirteen coloniesc) western statesd) states founded after 1938 the original thirteen colonies Mark owns a home next to a small creek. His property line

is most likely:a) the edge of the creekb) the middle of the

creekc) the other side of the creekd) 100 rods from the edge of the creek

• the middle of the creeksince a small creek is most likely

a non-navigable waterway, marks prop line is most likely the middle of the creek real or personal? solar panelsreal is a car real or personal property and why? personal Utilization poolingLandowner owns a fraction of whatever liquid mineral rights exist under their property (have to share it/ pool it amoung the neighbors) Real PropertyLand and everything permanently attached to itb (land+ attachments+ rights)- real estate, realty, immovable property, fixtures real or personal? hair salon chairpersonal real or personal? backyard swing setreal if attached; if not attached it is personal Air rights areThe rights to use and control space above a specific parcel of land (as defined on the surface) is an apple tree real or personal property? why? real because it is attached by roots

an example of an emblement is:a) an apple treeb) a jewelry

display casec) cornd) solar panels

• cornemblements are annual or semi-annual crops that

do not grow back after being planted. an example o this sort of crop is corn fixtures exampleswindow blinds real or personal? avocado treereal Applied Easement (not MA specific)An example of an implied easement iswhen one owner uses a dirt road over a neighbor's property to access a lake for years. There is no express permission or grant of that right, but it is implied that there is an easement to access the lake by the conduct of the parties 100 rods= (MA)1,650 feet bill of sale =receipt for personal property(transfer anything not real property with bill of sale and not a deed)

littoral rights (MA)extend from mean high water line to mean low water line or 100 rods (whichever is less) or 100 rods doctrine of captureThe owner of land has the right to capture any liquid minerals, such as gas or oil under their land; (u dont actually own minerals but u have the right to capture/ go get them)- applies only to liquid ONLY (becuz it is free flowing)-NOT solids real or personal? washing machinepersonal real property exampleshouse, inground pool, land, chandelier, oven Annexationpersonal property becomes real propertyex. planting a tree real property used deed and personal proerpty uses _____bill of sale Riparian RightsAn owner's rights in land that borders on or includes a stream, river, or lake. These rights include access to and use of the water.Mineral RightsRights to the subsurface, including rights to oil, gas, coal, and other substances that are mined, and can be separated from land ownership. ; can be subdivided; extend to earths core Grantor vs grantee for a deedGrantor= seller; person giving the deedgrantee= buyer; person receiving the deedor= giveree= receiver (receiver has a lot of e's in it) AIR RIGHTS (AIR LOT)the right to use the air space above a property- lateral severance includes air, surface and subsurface rights; can be subdivided