Property ownership -chapter 3.txt

Immobility, indestructible, unique or non-homogeneous

Scarcity, improvement, permanence of investment, situs

Area preference, favorable site, preferred location

Prm, pob, distance between monuments

Baselines & principal meridians

How to determine the number of acres in a rectangular survey

Township has how many miles, sections, acres & square feet

Charge, claim or liability attached & binding on real estate

Specific property, special assessment

Judgement or court decree (all debtors property)

Right of one to use the land of another

Tract over which easement runs

Tract that benefits from easement

Personal interest or utility

No other way to street

Claimant of continuous use for 5-20 years

"Right of way" across someone else's property ("in addition to", run with the land") non-contiguous

Park in driveway or hunting

Illegal extension of building

King or gov't holds title allowing teen ants to live there

Individual holds land free and clear of rent or govt

Owner dies & leaves no heirs and gov't becomes owner

Indeterminable length (lifetime or forever)

Highest, all rights, indefinite period, inheritable by heirs

Indefinite period, inheritable, extinguished on designated event, revert to original grantor

Duration to life, no inheritance, estate our Autry vie, entitle to possession, remainder interest, reversion interest

Upon death, if no remainder, will go back to original fee simple owner or their heirs if dead

Time ownership, not answerable to remainderman, enjoy but cannot encroach, may not commit waste, entitled to possession, income and profits, life interest may be sold, mortgaged or gifted

Upon death of wife

Upon death of husband

Right not yet perfected

Tract of land owned and occupied as family home, exempt from judgement for unsecured debts

Use of another's property without their permission (30 year old garage 6 inches over), visual, hostile, exclusive and continuous

Ownership by natural person

Each holds and individual undivided interest, each can sell, convey, mortgage or transfer, upon death passes to heirs, May partition land

Owners have right of survivorship, needs title, time, interest and possession to be valid, termination results from destruction of any 4 units, May partition land

Must be husband and wife, right of survivorship, title may be conveyed or encumbered by deed signed by both, no right of partition

1.Husband and wife may have sole ownership or separate or individual property if owned solely before marriage or acquired by gift or inheritance after marriage

2. Spouse equal partners of property acquired after marriage

3. Upon ones death, survivor owns 1/2 other willed

4. Ante nuptial agmt so preserving separate ownership

Owned by 3rd person benefit another, owned by business organization, 2 or more to create and operate a real estate investment, REITS

Definite period of time terminated by either party

(Periodic) indefinite period, no specific date, terminated by either party

Tenant right to possession, indefinite period, terminated by either notice or death

(Holdover) - tenant continues to hold possession without landlord consent

Acquiring title to additions or improvements

Soil deposited by natural force of water

Soil increase by deposit from accretion

Property of debtor in custody if law and held as security pending disposition of creditor

Permanent metal marker in cement

Horizontal plane from which elevations are measured

Gradual washing away of soil by flowing water or soil

Legally allowed necessities

No monetary value

Not yet perfected

Court doctrine bars legal claim because of undue delay to assert the claim

Action pending

Transfer of rights under contract from one party to another

No prior agreement can change terms of contract