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KES Real property

Real property and the law

TermDefinition
Land Earths surface to center of earth and sky above.
Improvments Human made additions on or be.ow ground. Includes growing things
Realestate Land plus all human made improvements that are attached
Real Property Interest, benefits, rights automatic.y included with ownership
Bundle of legal rights Possession, control, enjoyment, exclusion, disposition
Disposition To sell, will, transfer, otherwise dispose, encumber
Title 2 meanings Right to ownership, evidence of that ownership (deed)
Title refers to? Ownership, not a printed document
Deed Document by which owner transfers title.
Appurtenance Something that transfers with title (parking space, easements, water rights
Real estate is equivalent to? Real property
Rights limited to surface Surface rights
Rights to natural resources Subsurface rights
Riparian Rights Rights granted along flowing water (ownership to center of river or body of water)
Littoral Rights Grants use of water, but not ownership. Owns land adjacent to water up to average high water mark
Accretion Increase in land due to soil deposits.
Erosion Wearing away of land by natural forces
Avulsion Sudden loss of land by act of nature.
Doctrine of prior appropration Water use controlled by state. Permit granted based on prof of beneficial use. First in time
Important distinction between personal and real property Personal property is moveable.
Chattels Items of personal property, movable items, emblements like cultivated crops.
Emblements Annually cultivated crops fructus industriales (fruits of industry) considered personal property.
Fructus naturales Perennial shrubs, grass, trees
Severance Act of seprating property from land
Annexation Act of converting personal property in to real property
Conveyance of real property is by? Deed
Conveyance of personal property is by? Bill of sale
Fixture Personal property that has been attached.
MARIA legal test of fixture Method of annexation, Adaptability for ordinary use, Relationship of parties, intention, agreement.
Trade fixtures Used for business can be removed prior to new occupancy. Considered personal property.
Accession Trade fixtures not removed that become real property (constructive annexation)
Characteristics of real property 2 Economic, physical
Economic chars of real property (land) 4 Scarcity, improvements, permanence of investment, area preference.
Situs Place
Physical characteristics of land Immobility, indestructibility, uniqueness
Nonhomogeneity Uniqueness
Prescriptive easements are considered Extension of acquiring title to property through adverse possession.
Prescriptive easements may be aquired accross land After 10 years of continuous use
Prescriptive easement use characteristics Continuous open, notorious, hostile
Easement by prescription ... Runs with the land
Easement may be removed by 5 years non continuous use
By law all AZ property much have Ingress, egress rights. No land locked land. Owner can sue to condemn adjacent land for easement with courts
The owner of land where easement will exist Most often will be compensated
AMA (water law) Active management area. Due to over draft of ground water supply.
In AMA a builder must Prove development has an assured water supply for 100 years
In non-AMA areas buildes must Adequate water supply
Water rights type I Remain with land, but could be used for non irrigation purposes
Water rights type II Grandfathered water rights that may be sold seprate from land.
AZ water classifications Ground, surface
Use of water rights without permit is Riparian (NOT AZ)
AZ water use regulated by Dept of water resources
Exempt domestic well must Not exceed 35 gal per min and water an area no greater than 2 acres
Water well use much appear on the SPDS (completed by owner)
Created by: KimSchroeder
Popular Real Estate sets

 

 



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