Real property is immovable and includes: Land and Structures: land includes the soil, and all...

Real property is immovable Real property is immovable and includes: and includes: Land and Structures: land

includes the soil, and all natural and artificial structures on it (unless agreed otherwise).

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Real property is immovable Real property is immovable and includes (cont’d): and includes (cont’d): Airspace and Subsurface Rights:

subsurface rights can be titled and sold separately.

Plant Life and Vegetation: crops can be sold separately.


Ownership in Fee Simple Ownership in Fee Simple Absolute gives the owner the Absolute gives the owner the greatest aggregation of rights, greatest aggregation of rights, powers and privileges possible powers and privileges possible under American law.under American law.Owner has indefinite right to

exclusive possession and use of property.


Fee Simple Fee Simple (cont’d).(cont’d).Nuisance: interference with

another’s right to use and enjoy his property.

CASE 26.1 Biglane v. Under the Hill Corp. (2007). Was the injunction reasonable considering the Biglanes knew about the noise before moving in?


Estate that lasts for the life of Estate that lasts for the life of some specified individual. some specified individual.

During life tenant’s During life tenant’s ownership, she can possess, ownership, she can possess, use, and take the fruits of the use, and take the fruits of the estate, but not take from the estate, but not take from the property itself.property itself.


Tenancy in Common: Tenancy in Common: each owns each owns an undivided interest in the an undivided interest in the property. At death, interest property. At death, interest passes to tenant’s heirs.passes to tenant’s heirs.

Joint Tenancy: Joint Tenancy: each owns each owns undivided interest. At death, undivided interest. At death, interest passes to surviving joint interest passes to surviving joint tenant(s). tenant(s).


Tenancy by the Entirety: Tenancy by the Entirety: (uncommon) ownership to (uncommon) ownership to husband and wife.husband and wife.

Community Property: Community Property: property property acquired during marriage. Each acquired during marriage. Each spouse owns an undivided half-spouse owns an undivided half-interest.interest.


Created when owner or lessor Created when owner or lessor conveys right to possess or conveys right to possess or use the property to a lessee use the property to a lessee (tenant) for period of time.(tenant) for period of time.

Fixed-Term TenancyFixed-Term Tenancy (or (or Tenancy for Years): express Tenancy for Years): express contact for specified period of contact for specified period of time. time.


Periodic Tenancy: Periodic Tenancy: no definite no definite duration, but rent paid at duration, but rent paid at certain intervals.certain intervals.

Tenancy at Will: Tenancy at Will: termination of termination of lease without notice.lease without notice.

Tenancy at Sufferance: Tenancy at Sufferance: tenant tenant wrongfully possesses property.wrongfully possesses property.


EasementEasement: : right of a person to right of a person to make limited use of another make limited use of another person's real property without person's real property without taking anything from the property. taking anything from the property.

ProfitProfit: : right to go onto another’s right to go onto another’s land and take away some part of land and take away some part of the land itself or some product of the land itself or some product of the land. the land.


Easement or Profit Easement or Profit AppurtenantAppurtenant: : Owner of property (dominant)

has right to go onto adjacent property (servient).

Easement goes with the land at sale or transfer.


Easement or Profit Easement or Profit in Grossin Gross::Right to go onto non-adjacent

property by business or utility company.

Easement goes with the land at sale or transfer.


Creation of an Easement or Creation of an Easement or Profit:Profit:Must be in writing created by

deed, contract, or will. Can be created by implication.Can be created by necessity.Can be created by prescription.


Termination of an Easement Termination of an Easement or Profit:or Profit:Nonuse with intent to abandon.

License:License: Revocable right of a person to

come onto other person’s land.Grants no interest in the land.


Listing Agreements: Listing Agreements: between between Seller (or Buyer) and a Real Seller (or Buyer) and a Real Estate Agent.Estate Agent.

Real Estate Sales Contracts: Real Estate Sales Contracts: must be in writing and signed, must be in writing and signed, to be enforceable under the to be enforceable under the Statute of Frauds. Statute of Frauds.


Real Estate Sales Contracts Real Estate Sales Contracts (cont’d).(cont’d).Contingencies.Closing Date and Escrow.Implied Warranty of Habitability.Seller’s Duty to Disclose Hidden

Defects.


DeedsDeeds: : written instrument used to written instrument used to transfer interests in real estate. transfer interests in real estate. Necessary components:

Names of Grantor and Grantee. Words evidencing intent to convey. Legally sufficient description. Grantor’s Signature. Delivery of the Deed.


Types of Deeds:Types of Deeds:Warranty Deeds.Special Warranty Deed.Quitclaim Deed.Grant Deed.Sheriff’s Deed.


Recording Statutes. Recording Statutes. Recording a deed (or any interest

in real property) puts the public on notice of the new owner’s interest in the land and prevents the previous owner from fraudulently conveying the same interest to another buyer.


Recording Statutes (cont’d).Recording Statutes (cont’d).Marketable Title: grantor is

obligated to transfer title that is free from encumbrances and defects.

Title Search.Methods of Insuring Good Title:

most common is title insurance.


Adverse Possession: Adverse Possession: occurs occurs when one person possesses the when one person possesses the property of another for a certain property of another for a certain statutory period of time, that statutory period of time, that person automatically acquires person automatically acquires title to the land, just title to the land, just as if there as if there had been had been a conveyance by a conveyance by deed. deed.


Adverse PossessionAdverse Possession (cont’d). (cont’d).Must be: Actual and Exclusive,

Open, visible and notorious, Continuous and peaceable, Hostile and adverse.

CASE 26.2 Scarborough v. Rollins (2010). What was the key factor in Rollins’ proof of title to the land?


Rights in property are Rights in property are constrained by federal, state, constrained by federal, state, and local laws.and local laws.

Eminent DomainEminent Domain. . The Fifth The Fifth Amendment gives the government Amendment gives the government the right to take (condemn) the right to take (condemn) private land for “public use” with private land for “public use” with just compensation to owner. just compensation to owner.


Eminent DomainEminent Domain (cont’d). (cont’d). CASE 26.3 Kelo v. City of New London, Connecticut (2005). Is taking private land for economic development a true public use of private property?

Legislation Prohibiting Takings Legislation Prohibiting Takings for Economic Development. for Economic Development.


Restrictive Covenants: Restrictive Covenants: a a private restriction on the use of private restriction on the use of land and is generally binding on land and is generally binding on the purchaser of the land the purchaser of the land because it “runs with the land” because it “runs with the land” as stated in the deed.as stated in the deed.

Inverse CondemnationInverse Condemnation: : government takes land without government takes land without paying compensation at all.paying compensation at all.


Police Power:Police Power:U.S. Supreme Court has held that

zoning is a legitimate exercise of government’s police powers.

Broad discretion to zone as long as it is rationally related to health, safety, or welfare of community. Subdivision Regulations. Growth-Management Ordinances.


Purpose and Scope of Zoning Purpose and Scope of Zoning Laws. Laws. Permissible Uses of Land:

residential, commercial, and industrial.

Other Zoning Restrictions.


Exceptions and Special Exceptions and Special Incentives. Incentives. Variances: allows exception to

the zoning rules.Special-Use Permits.Special Incentives: encourages

development, usually by tax incentives and abatements.


Real property is immovable and includes: Land and Structures: land includes the soil, and all...

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