Card Set Information

2013-09-18 15:45:12

real estate
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  1. Easement Appurtenant
    Easement benefits particular parcel of land

    Run w/ the Land
  2. Easement in Gross
    Benefits a person regardless of whether they own any land

    Types: Commerical and Non Commerical

    Ex. Utility Easement
  3. Commerical Easement in Gross
    Created for a business purpose

    Are transferable
  4. Non Commerical Easement in Gross
    For non commercial puposes


    ex. hunting and fishing rights
  5. Express Grant
    In writing and signed by grantor

    Property Owner grants to another the right to use a portion of the grantor's property
  6. Express Reservations
    Land owner conveys portion of propty and expressly reserves an easement right across grantee's property
  7. Easement by Estoppel
    Circumsatnces have created need for easement

    ex. Grantor of easemtn fails to sign document before dying
  8. Easement by Necessity
    Owner conveys land because there is no access to land except over the grantor's property

    ex. Conveyed land is landlocked, easement needed for access to public road
  9. Easement by Implication
  10. Profit
    Right to enter another's land and take something from it

    ex. Concerete company removes sand and gravle from land
  11. Affirmative Covenant
    Obligates Owners to perform certain acts for the benefit of the neighboring property owners

    ex. Landscaping
  12. Equitable Servitudes
    Land restrictions recorded on a title that are enforceable against subsequent transferees
  13. Reasons for Terminating an Easement
    Purpose for creation is completed

    Merger of dominate and servient land parcels

    abandonment by dominate owner

    incompatible (ex. pedestrian walkway access, and dominate teantna attend to expand easemtn for high volume commercial hauling)

    • Written Release
    • Destruction of Servient Estate
    • Eminent domain
  14. Fixture
    Personal proety becomes attached to real property, and loses its identity as personal property
  15. Industrial Plant Rule
    When a constructive annexation test applies to machinery in an industrial setting,  machinery is essential and therefore a fixture
  16. Trade Fixture
    Personal property installed by a business tenant, used in conducting business. Items considered personal property and may be removed by tenant

    ex. Resurtant can keep equipment, applicans, wall displays
  17. Waste
    Damaging, destroying, or reducing value of real property

    (unlawfully removing fixtures)
  18. Right of Removal
    Innocent improver of property, can remove goods where person acting in good faith improves the land of another
  19. Consideration of whether or not a fixture
    Parties expressly agree to character of property

    Relationship: Lender over dEbtor, 

    Assumptions of Reasonable Buyer

    Charter of Propety and Its Adaptation (how connected is fixture to property)

    Actual or Constructie Annexation

    Substantial Harm (damage caused by removal)
  20. Fructuis Naturales
    Things produced by nature, no annual labor,  REAL Property
  21. Fructus Industrials
    Things produced through human effort     Personal Property