REAL ESTATE LAW
Real Estate Law 2025
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ESTATE LAW
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1. 2 Classification of 1 - Real Property, 2 - Personal Property
property:
2. Real Property land and those things that are permanently attached to the land, such as homes,
office buildings and trees.
3. Personal Proper- sometimes called "chattels" or "goods" - includes living objects, such as animals,
ty and inanimate objects, such as a television.
4. Tangible Person- Property that has physical substance. Something you can hold taste, see or hear.
al Property Includes automobiles, televisions and clothes.
5. Intangible Per- property that represents a set of rights that have n physical existence but that do
sonal Property represent control or ownership of something of value. E.g. stock certificate.
6. Fixtures item of personal property that becomes real property because of its attachment
to the land or a building. (e.g. dishwasher, ac unit)
7. 2 Judicial Tests to 1. The extent/duration of the fixture's annexation to the real property; and
Determine if it is 2. The adaptation of the fixture to the use of the real property.
a Fixture
8. Airspace Private airspace is sufficient elevation to permit the construction of the tallest
buildings and structures throughout the world.
9. Mineral Rights Owner of real property owns all the mineral beneath the surface of the lands
10. Riparian Rights rights of the owners of lands adjoining streams, rivers, and lakes relating to the
water and its use.
11. Appropriation - - found in western states where water is scarce. Developed in the 19th century -
prior appropria- predominately with miners, farmers and ranchers. Administrative Agencies estab-
tion lished to issue water permits.
Real Estate Law 2025 Verified Question & Answers
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Real Estate Law 2025
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ESTATE LAW
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12. Possession occupation of land evidences by visible acts such as enclosure, cultivation, the
construction of improvements, or the occupancy of existing improvements. Pos-
session gives the property owner the right to exclude others from the land.
13. 6 Types of Mod- 1 -1. Fee Simple or fee simple absolute, 2. Fee Simple Determinable, 3. Fee Simple
ern-Day Estates on Condition Subsequent ,4. Life Estate; 5- Estate for Years; 6 - Estate at Will
in Real Property
14. Fee Simple or fee estate of real property with infinite duration and no restrictions or use. Owner has
simple absolute unconditional powers over the property and it reverts to the heirs even after the
owner's death.
15. Fee Simple De- Estate of real property with potentional infinite duration. The ownership of a fee
terminable simple determinable is subject to a condition, the breach of which can result.
16. Fee Simple on The ownership of a fee simple on condition subsequent is subject to a condition,
Condition Subse- the breach of which can result in termination of the estates.
quent Does not terminate automactically. Terminates at the grantor's power
17. Life Estate Estate of real property the duration of which is measured by the life or lives of one
or more persons. Life estates are created by deed, will or and express agree. An
estate for life may be for either the life of the owner or the life of some other
person or people ("measuring life")
18. Waste action or nonaction that causes a loss of value to real property. If the life estate
owner of the real property does not take care of the real property, the owner will
be deemed to commit waste, and the life estate will terminate, even though the
measuring life is still alive.
19. Future Interest The division of the property into different ownerships. The fee simple deter-
minable, fee simple on condition subsequent, and life estate all have the effect of
creating different ownerships in the same property.
20. Estate for Years
Real Estate Law 2025 Verified Question & Answers
Real Estate Law 2025
REALVerified Question & Answers
ESTATE LAW
Study online at https://quizlet.com/_a0bzgt
1. 2 Classification of 1 - Real Property, 2 - Personal Property
property:
2. Real Property land and those things that are permanently attached to the land, such as homes,
office buildings and trees.
3. Personal Proper- sometimes called "chattels" or "goods" - includes living objects, such as animals,
ty and inanimate objects, such as a television.
4. Tangible Person- Property that has physical substance. Something you can hold taste, see or hear.
al Property Includes automobiles, televisions and clothes.
5. Intangible Per- property that represents a set of rights that have n physical existence but that do
sonal Property represent control or ownership of something of value. E.g. stock certificate.
6. Fixtures item of personal property that becomes real property because of its attachment
to the land or a building. (e.g. dishwasher, ac unit)
7. 2 Judicial Tests to 1. The extent/duration of the fixture's annexation to the real property; and
Determine if it is 2. The adaptation of the fixture to the use of the real property.
a Fixture
8. Airspace Private airspace is sufficient elevation to permit the construction of the tallest
buildings and structures throughout the world.
9. Mineral Rights Owner of real property owns all the mineral beneath the surface of the lands
10. Riparian Rights rights of the owners of lands adjoining streams, rivers, and lakes relating to the
water and its use.
11. Appropriation - - found in western states where water is scarce. Developed in the 19th century -
prior appropria- predominately with miners, farmers and ranchers. Administrative Agencies estab-
tion lished to issue water permits.
Real Estate Law 2025 Verified Question & Answers
, REAL ESTATE LAW
Real Estate Law 2025
REALVerified Question & Answers
ESTATE LAW
Study online at https://quizlet.com/_a0bzgt
12. Possession occupation of land evidences by visible acts such as enclosure, cultivation, the
construction of improvements, or the occupancy of existing improvements. Pos-
session gives the property owner the right to exclude others from the land.
13. 6 Types of Mod- 1 -1. Fee Simple or fee simple absolute, 2. Fee Simple Determinable, 3. Fee Simple
ern-Day Estates on Condition Subsequent ,4. Life Estate; 5- Estate for Years; 6 - Estate at Will
in Real Property
14. Fee Simple or fee estate of real property with infinite duration and no restrictions or use. Owner has
simple absolute unconditional powers over the property and it reverts to the heirs even after the
owner's death.
15. Fee Simple De- Estate of real property with potentional infinite duration. The ownership of a fee
terminable simple determinable is subject to a condition, the breach of which can result.
16. Fee Simple on The ownership of a fee simple on condition subsequent is subject to a condition,
Condition Subse- the breach of which can result in termination of the estates.
quent Does not terminate automactically. Terminates at the grantor's power
17. Life Estate Estate of real property the duration of which is measured by the life or lives of one
or more persons. Life estates are created by deed, will or and express agree. An
estate for life may be for either the life of the owner or the life of some other
person or people ("measuring life")
18. Waste action or nonaction that causes a loss of value to real property. If the life estate
owner of the real property does not take care of the real property, the owner will
be deemed to commit waste, and the life estate will terminate, even though the
measuring life is still alive.
19. Future Interest The division of the property into different ownerships. The fee simple deter-
minable, fee simple on condition subsequent, and life estate all have the effect of
creating different ownerships in the same property.
20. Estate for Years
Real Estate Law 2025 Verified Question & Answers
