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(Week 1) Chapter 2
Real Property Rights and Limitations
| Term | Definition |
|---|---|
| BUNDLE OF RIGHTS (DEEP C) | Disposition Enjoyment Exclusion Possession Control |
| GOVERNMENT POWERS (PETE) | Limitations to the BUNDLE OF RIGHTS imposed by the law and the government |
| PETE - Public Limitations | POLICE POWER EMINENT DOMAIN, SUIT FOR CONDEMNATION TAXATION, AD VALOREM, SPECIAL ASSESSMENT ESCHEAT |
| Define POLICE POWER | The right of the government to make and enforce laws for the good of the general public (Zoning) |
| POLICE POWER (5) | 1. Zoning laws 2. Building codes 3. Environmental protection laws 4. Subdivision regulations 5. Various city, borough or township ordinances and specifications |
| density = ratio of dwellings | how many people can live in an area |
| Zoning controls the use of the land (4) | 1. setbacks 2. variances - benefits owner 3. nonconforming - there before the house 4. conditional use - benefits the community |
| SETBACK REQUIREMENTS | limitation saying can build within only certain area |
| NONCONFORMING USE | if any building use violates the current zoning laws because it was in existence before the passage of the zoning law |
| VARIANCE | improvements to real property that violate the current zoning laws are prohibited unless a property owner applies to the zoning hearing board for an exception to laws and is granted this exception |
| CONDITIONAL USE PERMIT | allows for a restricted land use that is also different from the existing zoning regulations because it benefits the community |
| BUILDING CODES | standards of construction that are also imposed by local governments to protect the health, safety and welfare of the public |
| BOCA | Building Officials Conference of America Determines building codes |
| CERTIFICATE OF OCCUPANCY | Before actual use or possession of a new building can take place, building inspector must issue |
| PEROLATION TEST | septic or sand mound |
| INTERSTATE LAND SALES FULL DISCLOSURE ACT | This law requires that persons who are selling or leasing land of 25 or more lots file a statement of record with the federal Department of Housing and Urban Development (HUD) |
| EMINENT DOMAIN | The right of the government to take private property (real estate) for the public good with just compensation to the owner. Compensation may be just value but worth more to you. |
| SUIT FOR CONDEMNATION | If an owner refuses to sell the property, the government can then exercise its right of eminent domain by filing a legal suit |
| TAXATION | Tax evaluation to provide municipal services, the government has the right to tax the owners of real property. |
| AD VALOREM | according to value |
| SPECIAL ASSESSMENT | additional tax for public improvements to benefit the local community as well as the real property owner |
| ESCHEAT | all the real and personal property of an owner returned to the state government when an owner dies without a will and without any heirs on the theory that the state does not want property to remain unowned |
| TESTATE | if a person dies with a will |
| DEVISEE | person who receives the title through a will |
| DEVISE | the gift of real property through a will |
| PENNSYLVANIA INTESTATE ACT | If there is no will, the state defines who will receive the title to real and/or personal property. |
| HEIR | recipient of property when a person dies intestate, typically one or several immediate relatives |
| DEED RESTRICTION | grantor restricts the use of property in the future (all future property owners) |
| RESTRICTIVE COVENANTS | used by builders and developers in residential subdivisions to maintain development conformity (only enforced by neighbors) |
| LACHES | Violations of restrictive covenants enforced by other property owners in the subdivision seeking a court order known as an injunction (must stop process while being built) |
| Mortgage Limitations | Mortgage agreement provisions that require a property owner to get the written permission of the lending institution before making any substantial structural alteration, change or improvement to the real property. |
| PRIOR APPROPRIATION | right of the government to control the use of water |
| REPARIAN RIGHTS | rivers and streams, non-nav own to middle |
| LITTORAL RIGHTS | lakes and oceans, boundary line affected by tides |
| EROSION | through the gradual wearing away of land by the natural action of the wind or water |
| ACCRETION | where the physical forces of nature cause a gradual buildup of soil |
| AVULSION | sudden and dramatic devastation of land and real property |
| EROSION removal of land by water and build... | up do to erosion is ACCRETION. |
Created by:
crochetchick
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