PSI HAWAII Flashcards

PSI HAWAII Flashcards

Defn: LandThe earth's surface extended downwards to the center of

the earth & upwards to infinity Personal PropertyAka ChattelsAnything that isn't real property is personal propertyTransferred by way of bulk of sale vs deedFinanced by way of security agreement (Chattel Mortgage)Affixing and Severance PartitionSomething that divides (such as a wall); the act of dividing something into parts or sections Water Rights:Avulsion RightsSudden addition to or decrease of land by natural action of water Tenants by the EntiretyCo-ownership form that can only be used by married couples.Created by express wording.Surviving spouse has right of survivorship.Neither spouse may sell, gift, devise, or otherwise transfer property without permission of other spouse.Government LimitationsP.E.T.EPolice PowerEminent DomainTaxationEscheat Defn: Fee Simple EstateHighest form of ownership only limited by public & private restrictions LicenseA personal privilege to enter the land of another for a specific purpose.Defn: Fee Simple LimitationsA fee simple subject to an executory limitation is an estate that ends when a specific condition is met and then transfers to a third party. The interest will not revert to the grantor.Office of Consumer Protectioninvestigates consumer complaints alleging unfair or deceptive trade practices

Defn: Real EstateLand + all man made improvements to the land that are

permanently attached Land Use CommisionEstablished in 1961 Private LimitationsD.E.L.LDeed RestrictionsEasementsLiens (Mortgage)Leases P.A.S.HPublic Access to Shorelines in Hawaii;the rights of native Hawaiians to have access to less than fully developed, privately owned shoreline lands EncumberanceInterest in real estate that doesn't rise to the level of ownership or possession

• Unities of Joint TenancyP- Possession (right to use the whole property)I- Interest

(Equal)T- Time (Take ownership at the same time)T- Title (one title per property) Co-ownershipTitle ownership held by two or more persons.

Defn: EmblementA plant or crop that is considered personal property

• Hawaii CountiesHonolulu County - OahuMaui County - Maui, Molokai,

Lanai, KahoolaweHawaii County - Hawaii IslandKauai County - Kauai, Niihau Two types of estatesFreehold and Leasehold Joint TenancyA form of concurrent ownership, which occurs when two or more persons own a single estate in land, with right of survivorship.Must have equal shares, right to partition.

• Termination of EasementMutual AgreementMerger of

TitlesAbandonmentTermination of Purpose Ownership in SeveraltySole ownership that only one person or legal entity holds the title to that property. (as opposed to co-ownership)

Water Rights:RelictionGradual receding of water exposing land

Tests of a Fixture1. Method of attachment2. Adaptation of the article to the real property3. Agreement between parties4. Relationship of the parties5. intention of the parties Defn: Uniform Commercial Code (UCC)Property owners buys personal property on credit and installs the item converting it to real property. UCC allows creditors to retain security interest.Hawaii law requires that the bulk sale be recorded within 10 days of sale

Defn: EstateReal property that describes the degree, nature, quantity or

extend of a person's ownership interest in real property Easement AppurtenantAttached to the ownership of real estate and allies the owner of that property the use of a neighbor's land CC&Rscovenants, conditions, and restrictions Gas, Oil and Mineral Rights owner byThe state of Hawaii

Defn: FixturePersonal property that has been attached to land or

building that it becomes part of the real property Dominant TenementThe parcel that benefits from the easement Water Rights: Riparian RightsRights are common law rights of owners of land that boarders a flowing body of water (Rivers & Lakes)

Defn: Trade FixturePermanently attached personal property that a business

operator installs in a rental space for business usePersonal property EasementA limited right to make use of a property owned by another.Water Rights:Littoral RightsRights belonging to owners of land that boarders navigable lake and sea; Non-flowing body of water Easement in GrossIndividual or company's interest or right to use someone else's land RestrictionsRun with the landFound in deed to convey title of the property

Defn: AppurtenantA fixture that is attached to real property

Servient TenementParcel easement is located.

Defn: Leasehold estateOwnership duration is certain or determined

Water Rights:Accretion rightsAddition of land and gradual build up of rocks, soil, or sand deposits due to water action Tenancy in CommonCo-ownership of property in which each party owns an undivided interest that passes to his or her heirs at death.Fee Simple DefeasibleA qualified fee estate that is subject to the occurrence or nonoccurrence of some specified event.Bundle of RightsP.U.E.D.EPossessUseEnjoyDisposeEncumber Life EstateAn interest in real or personal property that is limited in duration to the lifetime of its owner or some other designated person or persons.C.A.R.UConservation - StateAgriculture - CountyRaul - CountyUrban - County O.N.C.H.AOpen - Obvious to anyone who looksNotorious - Known by othersContinuous - UninterruptedHostile - Without the true owner's consentAdverse - Against the true owner's rights of possession Real PropertyReal Estate + the bundle of rights Doctrine of Prior AppropriationGrants states the rights to determine ownership and use of water Water Rights:Tide Water LandsShoreline is recognized by zonesBoundary that established shore lands (beaches) from uplands (privately owned lands) is the high wash of waves usually evidenced by vegetation line

• Creation of EasementMutual

agreementNecessityPrescriptionCondemnationDedication Defn: Title to Real PropertyThe right to/or ownership of the property, including the owner's bundle of legal rights

Defn: Freehold estateOwnership duration is uncertain or undetermined

Adverse PossessionA means of involuntary transfer. Individual makes a claim, takes procession and uses the land may take title away from the owner who fails to use or inspect the property over a series of years(20 years).