Property Types    Realty                     Land Use                 Ownership   Acquisitions   Restrictions    100      ...
   Intellectual Property Rights
   What is the legal entitlement attached    to the expressed form of an idea or of    other intangible subject matter?  ...
   A property right granted by the U.S.    government
What are: Patent (17 years) Copyright (95 yrs from publication, 120 years  from creation) Eminent Domain (this right to...
   Patent
   What is an intangible property right    granted by the U.S. government to an    inventor or application for a limited ...
   Includes rights to water, minerals, and    things attached
 What is real property? Realty includes land, structures on the  land, rights attached to the land like  water, mineral,...
   Two types of estate, or ownership interest    in real property
 What are1. Fee Simple Estate (full ownership,   unconditional disposal)2. Life Estate (possession & income for   quality...
   Concurrent Estates
    What are1.   Joint Tenancy (concurrently owned & undivided     interest)2.   Tenancy in the entirety (undivided inter...
   Cooperative Ownership
   What is ownership by a corporation, the    stockholders of which receive long-term    proprietary leases to a portion ...
   Elements of a Contract of Sale
What are: Vendor (seller)/Grantor (conveys property  to another) Vendee (purchaser)/Grantee buyer after  deed execution)...
   An increase or addition to property
  What is Accession?e.g. a coat of paint, additions &improvements, an animal birthing,transformation of raw material to a...
   Gifts
 What is the voluntary and gratuitous  transfer of property without  consideration. Donee—recipient of gift 3 Necessary ...
   Adverse Possession
   What is the claim of ownership of land by    possession that is exclusive, open, hostile,    unpermitted, and continuo...
   Two types of Acquisitions that involve    liens
 Trust Deed Mortgage Contract of Sale Land Contracts                     Home
   Four types of seller’s restrictions on Land    use
 What are1. Cost of homes to be built2. Minimum/maximum size of buildings3. Types of contruction4. Use of the land (conse...
   Ways Easement can be created
   What are by express words, by    implication, or by prescription    › This nonpossessory right uses another      perso...
   A right or privilege to enter another’s    land and take away something of value    from its soil or from the products...
   What is Profit a’ Prendre?    › Coal, sand, gravel, trees    › e.g. IL supplies the fracking sand for other      state...
   4 Land Use Restrictions
 What are incorporeal Interests?1. Easement2. Profits a’ Prendre3. Sellers’ Restrictions4. Lease Situatons               ...
Jeopardy -property law
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Jeopardy -property law

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Jeopardy -property law

  1. 1. Property Types Realty Land Use Ownership Acquisitions Restrictions 100 100 100 100 200 200 200 200 300 300 300 300 400 400 400 400
  2. 2.  Intellectual Property Rights
  3. 3.  What is the legal entitlement attached to the expressed form of an idea or of other intangible subject matter? Home
  4. 4.  A property right granted by the U.S. government
  5. 5. What are: Patent (17 years) Copyright (95 yrs from publication, 120 years from creation) Eminent Domain (this right to seize property can also be done by state and local governments) Home
  6. 6.  Patent
  7. 7.  What is an intangible property right granted by the U.S. government to an inventor or application for a limited time period to exclusively own and control a new, useful, and nonobvious invention. Home
  8. 8.  Includes rights to water, minerals, and things attached
  9. 9.  What is real property? Realty includes land, structures on the land, rights attached to the land like water, mineral, trees, fixtures, the right to pass to the land of another Home
  10. 10.  Two types of estate, or ownership interest in real property
  11. 11.  What are1. Fee Simple Estate (full ownership, unconditional disposal)2. Life Estate (possession & income for quality or Time, e.g. HI, Palm Springs, Mexico). Does not pass at death. Home
  12. 12.  Concurrent Estates
  13. 13.  What are1. Joint Tenancy (concurrently owned & undivided interest)2. Tenancy in the entirety (undivided interest but a sale or contract to sell does not sever the tenancy, individual creditors of the other spouse cannot attach the property to a claim, neither party owns individually a portion than can be mortgaged)3. Tenancy in common (no survivorship, can be unequal shares, need not be on same deed from same grantor)4. Community Property (each spouse has undivided one- half interest)Tenancy: possession or ownership orboth Home
  14. 14.  Cooperative Ownership
  15. 15.  What is ownership by a corporation, the stockholders of which receive long-term proprietary leases to a portion of the property and a proportional vote in its affairs based on the number of shares owned. It differs from a condominium ownership which has individual ownership of a unit, or separate Home defined area and which has an undivided interest in common or public areas
  16. 16.  Elements of a Contract of Sale
  17. 17. What are: Vendor (seller)/Grantor (conveys property to another) Vendee (purchaser)/Grantee buyer after deed execution) Must be in writing Must list essential terms to sufficiently identify the property and the price Home
  18. 18.  An increase or addition to property
  19. 19.  What is Accession?e.g. a coat of paint, additions &improvements, an animal birthing,transformation of raw material to a finishedgood (lumber) Home
  20. 20.  Gifts
  21. 21.  What is the voluntary and gratuitous transfer of property without consideration. Donee—recipient of gift 3 Necessary Element: 1. Donative Intent 2. Delivery Home 3. Acceptance
  22. 22.  Adverse Possession
  23. 23.  What is the claim of ownership of land by possession that is exclusive, open, hostile, unpermitted, and continuous for a statutory period? Home
  24. 24.  Two types of Acquisitions that involve liens
  25. 25.  Trust Deed Mortgage Contract of Sale Land Contracts Home
  26. 26.  Four types of seller’s restrictions on Land use
  27. 27.  What are1. Cost of homes to be built2. Minimum/maximum size of buildings3. Types of contruction4. Use of the land (conservation)Generally for a period of 30 to 40 years Home
  28. 28.  Ways Easement can be created
  29. 29.  What are by express words, by implication, or by prescription › This nonpossessory right uses another person’s property for a particular purpose. › must benefit adjacent land Home
  30. 30.  A right or privilege to enter another’s land and take away something of value from its soil or from the products of its soil
  31. 31.  What is Profit a’ Prendre? › Coal, sand, gravel, trees › e.g. IL supplies the fracking sand for other states Home
  32. 32.  4 Land Use Restrictions
  33. 33.  What are incorporeal Interests?1. Easement2. Profits a’ Prendre3. Sellers’ Restrictions4. Lease Situatons Home

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