Ownership

Personal property

trade fixture attached to leased property by a business for trade

Crops when cut or sold

Real immovable

surface land, mineral, air and water rights

Water rights

appropriate use under or adjacent

right can be severed voluntary transfer, condemnation or prescription

riparian

moving water at a boundary

to midpoint

if navigable

edge of the water

rights cannot be determined from public records

Littoral

Non-moving water

Appropriation

government gives permission to a non-riparian owner to take water from neighbor's land

Accretion

slow growing of land bordering river

Accession

land being added to other property

relict-ion

increase of land

permanent withdrawal of sea or river

Appurtenances

things used with the land for its benefit

e.g. stock in a mutual water company is real property

crops planted by the owner of a farm

Fixtures

Method of attachment

Agreement

Relationship of parties

Intention

Adaptability

e.g. vegetation is real property

bushes, grass and trees

Encumbrances; burden on property

Liens; Money encumbrance

Specific

Mechanic's lien

must be verified and recorded

Priority of payment; earlier then recording date

Starts the day work began or when materials were delivered

Notice of Non-responsibility; by owner

e.g. tenant contract to have work done

recorded within 10 days of becoming aware

Notice of completion

If not filed; claimant has 90 after completion of work

Construction loan

last payment is released after period to file mechanic's lien is expired

could lose its priority

If file after construction project has started

Demolition Date

may act as start date

Trust Deed

Involuntary Lien

Attachment lien

holds property pending court case outcome

Judgement liens

valid for ten years

writ of execution to satisfy judgement

sheriff's sale

Voluntary Lien

General

Judgement

Income tax lien

Government liens have priority

Non money; encumbrances

easements

Appurtenant Easement

benefits the Dominant Tenement

Easement in Gross

Creation

Express Grant

reservation

grantor maintains an easement

prescription

5 years open notorious use

Termination

Express Release

Merger

Non use

5 years terminates non use ends by prescription

encroachments

Owner is allowed 3 years to sue for trespassing

restrictions

private

created by grantor or developer

by deed or written agreement

CC&R

covenant

conditions

violation may result if loss of title

restrictions

Declaration of restrictions

general plan created by developer

violations stopped by injunction

public

Zoning

Condemnation

Freehold estate

Fee Simple

estate of inheritance, perpetual estate estate in fee, fee estate =

Fee simple absolute

maximum rights possible

Fee Simple De-feasible

e.g. If one dances title reverts original owner

Condition subsequent =

Life Estate

Subtopic

Life Estate

Life Tenant may sell, lease or encumber

when life tenant dies

estate revert to original owner

Cannot will the estate if tenancy is based on the life tenant's life

Original grantor holds an estate in reversion

Less then Fee-hold estate

Estate for years

must have termination date

periodic tenancy = month to month

Estate at will

indefinite period

Estate in sufferance

tenant stays in possession after expiration of lease

Types of Leases

Gross lease

lessee pays fixed amount

Net Lease

fixed income

percentage lease

based on gross receipts

commercial parking would pay the highest percentage lease

Creation of a lease

LAND

Transfer of Leasehold Interest

Sublease

transfer possession but not ownership

Assignment

Termination of lease

Constructive eviction

by landlord

Surrender

mutual agreement

Accord and Satisfaction

when amount of debt is in dispute

Atonement

tenant agrees to recognize new owner

Governments Right in Land

Courts

Inverse Condemnation

Force the government to purchase damaged property due governmental works

execution sale - sold under a 'writ of execution'

Probate Sale

Commission determined by Superior

creditors have four months to file claims

Adverse Possession

5 years open notorious continuous possession, color of title; pay taxes for five years; quiet title

living on the land is not required

Public Controls

Subdivision Map Act

grants cities control over subdivision

By way of a Master Plan

regulates subdivisions of 4 or less parcels

Subdivided Lands Law

Designed to prevent fraud

Regulated by the Real Estate Commissioner

regulates 5 or more lots

sub-divider submits

Financial arrangements to assure completion of community recreational facilities

Contract, maps, and finance papers

If a blanket encumbrance is used

Commissioner may require impound account

Stop violations with a 'Desist and Refrain Order' from the commissioner

Final Public Report

may be obtained by anyone

buyers must be given a copy

Subdivider gives Public Report and a receipt to buyer before entering a binding contract

receipt must be filed by sub-divider for 3 years

Land Project Subdivisions

50 or more unimproved lots

Buyers have 15 days to rescind contract

In Fill

Targeted for new construction

Not required

if lots are sold to builder or developer

sales promotion cost are nominal with little direct mail ads

Subdivision

requires comprehensive market analysis

Single family dwelling construction stages:

land acquisition, development and construction.

Housing and construction; regulated

Local Building Codes

Department of Building and Safety

know as building inspector

Highest construction standards

State Housing Law

Health and Safety Codes

set minimum construction standards

Follows Uniform Building Codes

Contractor State License Law

Environmental Quality Act

Negative = good

allows the conversion of existing rental units to condominiums

Sanitation

enforced by local health officers

Sells land

patent

executrix is named in the decedent's will

handles the distribution of an estate