The document discusses different classifications and types of property. It defines property as tangible items that can be seen and touched, as well as intangible items like copyrights and investments. Property is classified as real versus personal, and tangible versus intangible. Real property refers to land and fixtures, while personal property is all other property. Title to property can be acquired through deeds, inheritance, adverse possession, foreclosure, and eminent domain. The document also discusses different ownership interests in real property like fee simple versus life estates.
The presentation deals with different aspects of easements comprising definition, essential elements, classification, modes of acquisition, grant, prescription, customary easement, operation of law, etc.
The presentation deals with different aspects of easements comprising definition, essential elements, classification, modes of acquisition, grant, prescription, customary easement, operation of law, etc.
LL1 slides extent of ownership and enjoyment of land part 2xareejx
Ll1 slides extent of ownership and enjoyment of land part 2
Right to underground land, below the surface of the land
Right to support of land in its natural state
Στο πρώτο μάθημα της Ερευνητικής Εργασίας, η καθηγήτρια του 1ου ΓΕΛ Ξάνθης κ. Παρασκευή Σπύρου, Γεωπόνος, ετοίμασε και παρουσίασε στους μαθητές της τη δίκη της εργασία, που με παραστατικό και εύληπτο τρόπο μυούσε τα παιδιά στο μάθημα αυτό.
Παρουσίαση, σε μορφή PowerPoint, που έχει ως στόχο να βοηθήσει τους μαθητές μας να αναγνωρίζουν αλλά και να ονοματίζουν τις ενώσεις που θα συναντήσουν στην Ανόργανη Χημεία.
LL1 slides extent of ownership and enjoyment of land part 2xareejx
Ll1 slides extent of ownership and enjoyment of land part 2
Right to underground land, below the surface of the land
Right to support of land in its natural state
Στο πρώτο μάθημα της Ερευνητικής Εργασίας, η καθηγήτρια του 1ου ΓΕΛ Ξάνθης κ. Παρασκευή Σπύρου, Γεωπόνος, ετοίμασε και παρουσίασε στους μαθητές της τη δίκη της εργασία, που με παραστατικό και εύληπτο τρόπο μυούσε τα παιδιά στο μάθημα αυτό.
Παρουσίαση, σε μορφή PowerPoint, που έχει ως στόχο να βοηθήσει τους μαθητές μας να αναγνωρίζουν αλλά και να ονοματίζουν τις ενώσεις που θα συναντήσουν στην Ανόργανη Χημεία.
Προκήρυξη Διαγωνισμού Καλύτερης Ανάρτησης στο Blog1lykxanthis
Προκειμένου να δοθεί κίνητρο στους μαθητές μας να συνεισφέρουν και να γεμίσουν με δικό τους πρωτότυπο περιεχόμενο το ιστολόγιο, ο Σύλλογος Διδασκόντων προκηρύσσει Eτήσιο Eνδοσχολικό Mαθητικό Διαγωνισμό καλύτερης ανάρτησης στο σχολικό blog.
Learning ResourcesThis page contains the Learning Resources fo.docxsmile790243
Learning Resources
This page contains the Learning Resources for this week. Be sure to scroll down the page to see all of the assigned resources for this week. To view this week's media resources, please use the streaming media player below.
Media
·
Video: Laureate Education (Producer). (n.d.). Property law (Bundle of sticks) [Video file]. Retrieved from https://class.waldenu.edu
Note: The approximate length of this media piece is 3 minutes.
Readings
· Course Text: Currier, K.A., Eimermann, T.E. (2016). The study of law: A critical thinking approach (4th ed.). New York: Wolters Kluwer.
. Chapter 9, "Property and Estate Law"
· Article: Legal Information Institute. (2005). Kelo v. New London (04-108) 545 U.S. 469. Retrieved from http://www.law.cornell.edu/supct/html/04-108.ZS.html
· Article: Legal Information Institute. (2004). Uniform commercial code: Article 2a. Retrieved from http://www.law.cornell.edu/ucc/2A/
· Article: Findlaw. (n.d.). Overview: Commercial lease agreements. Retrieved January 6, 2011, from http://smallbusiness.findlaw.com/business-operations/commercial-lease-agreement-overview.html
· Article: Hudson, D. Z. (2010). Eminent domain due process. Yale Law Journal, 119, 1280–1327.
Use the Academic Search Complete database, and search using the article's title.
Enter your MyWalden user name: ([email protected]) and password (3#icldyoB1) at the prompt.
Hudson, D. (2010). Eminent Domain Due Process. Yale Law Journal, 119(6), 1280-1327.
Other Resources
· Commercial Lease Agreement
WAL_PSPA3010_05_
A_EN-CC.mp4
The Study of Law
Currier, K.A., Eimermann, T.E. (2016). The study of law: A critical thinking approach (4th ed.).
New York: Wolters Kluwer
Aspen College Series
The Study of Law
A Critical Thinking Approach
Fourth Edition
Katherine A. Currier • Thomas E. Eimermann
®Wolters Kluwer
Property and Estate Law
In no country in the world is the love of property more
active and more anxious than in the United States.
Alexis de Tocqueville
CHAPTER OBJECTIVES
_-Vter reading this chapter, you should be able to:
• Define real and personal property.
• Discuss the rights of landlords and tenants.
• Distinguish the different forms of joint property ownership.
• Discuss limitations on property rights.
• Discuss how property can be transferred either on a temporary or per-
manent basis.
• Discuss intestate versus testate succession.
• Explain the requirements for a valid will and the probate process.
INTRODUCTION
The concept of property is at the heart of the American legal system. Our eco-
-omic system is built on the ideas of capitalism and free enterprise, and the con-
:ept of private property rights is central to our economic success.
Property is usually thought of as being a tangible object, such as a house
r an automobile. However, in law the term applies to the set of rights related
:o ownership. Examples include deeds, leases, easements, contractual rights,
341
• 3 ...
This is a complete summary of the CAPE UNIT 2 MODULE 3 property law course. Answering questions and essay writing will be done in a separate presentation. The presentation seeks to summarize the requirements set by the examiners and outlined by the syllabus to assist students preparing for the exam a quick reference guide. Property law for CAPE can be seen as a complex area of study based on some of the principles employed, however CAPE focuses on the core principles set down within the Caribbean legal systems and with some of it's origins from the Roman/Dutch laws and principles The UK English common law system still plays much of an active role in the development of these principles, however with a few changes made by various regions. This presentation however was written to focus on one jurisdiction as CAPE is specific to every region of law and the body of law that governs that region, however once again, the key principles apply across the Caribbean regardless of jurisdiction. It is to note that easements was not included in this presentation since for the benefit of University students a separate presentation on the topic which covers both A levels and university was done. All the best in the exams students.
Chapter 32 The real estate exists 225After readi.docxketurahhazelhurst
Chapter 32: The real estate exists 225
After reading this chapter, you will be able to:
• distinguish between personal property and real estate;
• comprehend the physical characteristics of real estate;
• understand a property’s appurtenant and riparian rights; and
• determine whether an item is a property fixture or trade fixture.
Learning
Objectives
The real estate exists
Chapter
32
For most people, the term “property” means a physical or tangible thing.
However, property can be more broadly defined, focusing on the rights
which arise out of the object. Thus, property is referred to as a bundle of
rights in a thing, which for the purposes of this material, is real estate.
Further, property is anything which can be owned. In turn, ownership is
the right to possess the property owned and use it to the exclusion of others.1
The right to possess and use property includes the right to:
• occupy;
• sell or dispose;
1 Calif. Civil Code §654
Physical and
legal aspects
of real estate
appurtenant rights
common interest
development (CID)
mechanic’s lien
fixture
lien
personal property
profit a prendre
real estate
riparian right
trade fixture
Key Terms
For a further discussion of this topic, see Chapter 3 of Legal Aspects of
Real Estate.
226 Real Estate Principles, Second Edition
• encumber; or
• lease the property.
Property is divided into two primary categories:
• real estate, also called real property or realty; and
• personal property, also called personalty.2
Real estate is characterized as immovable, whereas personal property is
movable.3
Personal property is defined, by way of exclusion, as all property which is
not classified as real estate.4
While the distinction between real estate and personal property seems
apparent at first glance, the difference is not always so clear.
Real estate can be physically cut up by severance of a part of the earth (i.e.,
removal of minerals). Title to real estate can also be cut up in terms of time,
providing sequential ownership.
For example, fee ownership can be conveyed to one person for life, and on
their death, transferred by the fee owner to another. Time sharing is another
example of the allocation of ownership by time, such as the exclusive right
to occupy a space for only three weeks during the year.
Title to real estate can also be fractionalized by concurrently vesting title
in the name of co-owners, such as tenants-in-common who each hold an
undivided (fractional) ownership interest in the real estate.
Possession to real estate can be cut out of the fee ownership for a period of
time. For instance, the fee owner of real estate acting as a landlord conveys
possession of the property to a tenant under a lease agreement for the term of
a lease. When the tenancy expires or is terminated, possession of the property
will revert to the landlord. The landlord retains fee title to the real estat ...
Chapter 32 The real estate exists 225After readi.docxspoonerneddy
Chapter 32: The real estate exists 225
After reading this chapter, you will be able to:
• distinguish between personal property and real estate;
• comprehend the physical characteristics of real estate;
• understand a property’s appurtenant and riparian rights; and
• determine whether an item is a property fixture or trade fixture.
Learning
Objectives
The real estate exists
Chapter
32
For most people, the term “property” means a physical or tangible thing.
However, property can be more broadly defined, focusing on the rights
which arise out of the object. Thus, property is referred to as a bundle of
rights in a thing, which for the purposes of this material, is real estate.
Further, property is anything which can be owned. In turn, ownership is
the right to possess the property owned and use it to the exclusion of others.1
The right to possess and use property includes the right to:
• occupy;
• sell or dispose;
1 Calif. Civil Code §654
Physical and
legal aspects
of real estate
appurtenant rights
common interest
development (CID)
mechanic’s lien
fixture
lien
personal property
profit a prendre
real estate
riparian right
trade fixture
Key Terms
For a further discussion of this topic, see Chapter 3 of Legal Aspects of
Real Estate.
226 Real Estate Principles, Second Edition
• encumber; or
• lease the property.
Property is divided into two primary categories:
• real estate, also called real property or realty; and
• personal property, also called personalty.2
Real estate is characterized as immovable, whereas personal property is
movable.3
Personal property is defined, by way of exclusion, as all property which is
not classified as real estate.4
While the distinction between real estate and personal property seems
apparent at first glance, the difference is not always so clear.
Real estate can be physically cut up by severance of a part of the earth (i.e.,
removal of minerals). Title to real estate can also be cut up in terms of time,
providing sequential ownership.
For example, fee ownership can be conveyed to one person for life, and on
their death, transferred by the fee owner to another. Time sharing is another
example of the allocation of ownership by time, such as the exclusive right
to occupy a space for only three weeks during the year.
Title to real estate can also be fractionalized by concurrently vesting title
in the name of co-owners, such as tenants-in-common who each hold an
undivided (fractional) ownership interest in the real estate.
Possession to real estate can be cut out of the fee ownership for a period of
time. For instance, the fee owner of real estate acting as a landlord conveys
possession of the property to a tenant under a lease agreement for the term of
a lease. When the tenancy expires or is terminated, possession of the property
will revert to the landlord. The landlord retains fee title to the real estat.
Personal PropertyThis week’s lectures will focus on tangible pro.docxdanhaley45372
Personal Property
This week’s lectures will focus on tangible property. There are two main divisions in property: the law dealing with real property (land and items permanently attached to land) and the law dealing with personal property (all other items). The essence of property law is ownership. This ownership may be held outright, or it may be held in common with others as a joint tenant. Ownership interests are acquired in many ways including by possession (in the case of wild animals hunted or finding lost and abandoned property), by production, or by gift. A gift is a voluntary transfer of property ownership not supported by consideration.
There are three elements to a valid gift:
· Donative intent- this is ascertained by the language of the donor and the surrounding circumstances.
· Delivery- this requires giving up dominion and control of the item. With some items, constructive delivery may be applied. This is true, for example, in the situation where a key to a car is given symbolizing that the car has been given.
· Acceptance- the donee must accept the gift. This is generally assumed.
Gifts are ordinarily unconditional. However, the gift may be conditional in some situations. A gift causa mortis, for example, is a gift given in anticipation of death. If the donor (gift giver) does not die, the gift becomes invalid.
Mislaid, lost or abandoned property presents difficult challenges in the area of personal property law. Mislaid property gives the owner—not a random finder—the first claim to the property. Mislaid property is property that the owner did not intend to lose. However, if the owner does not claim the property the finder may keep it. Lost property is treated similarly. The owner has the first claim. However, the finder may keep it if the owner does not claim it (many states require the finder to seek out the owner). Finally, property that has been intentionally abandoned is the finder's, as the owner is presumed to have surrendered all rights in ownership in possession.
The final area of law we need to discuss is bailments. Bailments are created when an owner gives possession (but not ownership) to another temporarily. Most bailments are created by agreement. And although the elements of a contract may be present, this is not necessarily true except in the case of a commercial bailment, for example, where a patron gives a suit to a dry cleaner. The bailment is created when:
· Personal property is;
· Delivered without title;
· Under an agreement that property be returned to the bailor or otherwise disposed of according to the owners instructions.
Delivery requires the bailee to surrender exclusive possession and control to the bailor who must accept the property. The agreement does not need to be in writing for bailments lasting less than a year. The bailment gives the bailee certain rights including the right of temporary control and possession of the bailed property, use of the property for the purpos.
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Business Valuation Principles for EntrepreneursBen Wann
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This session provided an update as to the latest valuation data in the UK and then delved into a discussion on the upcoming election and the impacts on valuation. We finished, as always with a Q&A
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LA HUG - Video Testimonials with Chynna Morgan - June 2024Lital Barkan
Have you ever heard that user-generated content or video testimonials can take your brand to the next level? We will explore how you can effectively use video testimonials to leverage and boost your sales, content strategy, and increase your CRM data.🤯
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Digital Transformation and IT Strategy Toolkit and TemplatesAurelien Domont, MBA
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Falcon stands out as a top-tier P2P Invoice Discounting platform in India, bridging esteemed blue-chip companies and eager investors. Our goal is to transform the investment landscape in India by establishing a comprehensive destination for borrowers and investors with diverse profiles and needs, all while minimizing risk. What sets Falcon apart is the elimination of intermediaries such as commercial banks and depository institutions, allowing investors to enjoy higher yields.
"𝑩𝑬𝑮𝑼𝑵 𝑾𝑰𝑻𝑯 𝑻𝑱 𝑰𝑺 𝑯𝑨𝑳𝑭 𝑫𝑶𝑵𝑬"
𝐓𝐉 𝐂𝐨𝐦𝐬 (𝐓𝐉 𝐂𝐨𝐦𝐦𝐮𝐧𝐢𝐜𝐚𝐭𝐢𝐨𝐧𝐬) is a professional event agency that includes experts in the event-organizing market in Vietnam, Korea, and ASEAN countries. We provide unlimited types of events from Music concerts, Fan meetings, and Culture festivals to Corporate events, Internal company events, Golf tournaments, MICE events, and Exhibitions.
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"𝐄𝐯𝐞𝐫𝐲 𝐞𝐯𝐞𝐧𝐭 𝐢𝐬 𝐚 𝐬𝐭𝐨𝐫𝐲, 𝐚 𝐬𝐩𝐞𝐜𝐢𝐚𝐥 𝐣𝐨𝐮𝐫𝐧𝐞𝐲. 𝐖𝐞 𝐚𝐥𝐰𝐚𝐲𝐬 𝐛𝐞𝐥𝐢𝐞𝐯𝐞 𝐭𝐡𝐚𝐭 𝐬𝐡𝐨𝐫𝐭𝐥𝐲 𝐲𝐨𝐮 𝐰𝐢𝐥𝐥 𝐛𝐞 𝐚 𝐩𝐚𝐫𝐭 𝐨𝐟 𝐨𝐮𝐫 𝐬𝐭𝐨𝐫𝐢𝐞𝐬."
Implicitly or explicitly all competing businesses employ a strategy to select a mix
of marketing resources. Formulating such competitive strategies fundamentally
involves recognizing relationships between elements of the marketing mix (e.g.,
price and product quality), as well as assessing competitive and market conditions
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RMD24 | Retail media: hoe zet je dit in als je geen AH of Unilever bent? Heid...BBPMedia1
Grote partijen zijn al een tijdje onderweg met retail media. Ondertussen worden in dit domein ook de kansen zichtbaar voor andere spelers in de markt. Maar met die kansen ontstaan ook vragen: Zelf retail media worden of erop adverteren? In welke fase van de funnel past het en hoe integreer je het in een mediaplan? Wat is nu precies het verschil met marketplaces en Programmatic ads? In dit half uur beslechten we de dilemma's en krijg je antwoorden op wanneer het voor jou tijd is om de volgende stap te zetten.
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1. L P 7: P R O P E RT Y
N AU L A 310 0
The ownership of property is a fundamental right in the United States
protected by the U.S. Constitution.
Property can generally be defined as any right that can be owned and
conveyed.
Property does not consist of one right, but several rights.
Such rights may be held by one owner or shared among several
owners.
Property can be classified as tangible and intangible; real and
personal; and public and private.
Laws and private covenants may restrict a landowner's use of
property.
2. CLASSIFICATIONS OF PROPERT Y
L P 7: P R O P E RT Y
N AU L A 310 0
Three Main Classifications of Property
1. Tangible and Intangible Property
2. Real and Personal Property
3. Public and Private Property
3. CLASSIFICATIONS OF PROPERT Y
L P 7: P R O P E RT Y
N AU L A 310 0
1. Tangible and Intangible Property
Tangible property consists of items that can be
seen and touched. SUCH AS? When people think of
property, they often think of tangible
property, such as furniture and vehicles.
However, property can also be intangible.
Intangible property is not physical, but nonetheless
can be owned and transferred. CAN ANYONE GIVE
ME AN EXAMPLE? Copyrights, trademarks, and
investments are examples of intangible property.
4. CLASSIFICATIONS OF PROPERT Y
L P 7: P R O P E RT Y
N AU L A 310 0
2. Real and Personal Property
Real property (often called real estate) is defined
by state law and usually includes land and fixtures.
A fixture is anything that is permanently attached
to the land, such as trees and buildings. Fixtures
within buildings are also considered real property.
Personal property is generally defined as all
property that is not real property.
Examples of fixtures? Personal Property?
5. CLASSIFICATIONS OF PROPERT Y
L P 7: P R O P E RT Y
N AU L A 310 0
3. Public and Private Property
Public property is property owned by the
government, including Federal, state, and local
governments. Public buildings, public parks, and
government office furniture are examples of public
property.
Private property is property owned by private
persons. WHAT ABOUT PROPERTY HELD BY
CORPORATIONS? PUBLIC OR PRIVATE?
6. REAL PROPERT Y RIGHTS
L P 7: P R O P E RT Y
N AU L A 310 0
Fee Simple Absolute
a. Fee simple absolute, sometimes called fee simple or
fee, is the greatest "bundle of rights" that may be acquired
in a parcel of real property. A person who holds property in
fee can use, sell, lease, give away, and convey the property
upon the fee holder's death. Fee simple absolute is what
most people would consider owning real property.
b. Life Estate A life estate is a lesser interest than fee
simple absolute. In a life estate, a person (called the life
tenant) can possess and use property during his/her
lifetime, or the lifetime of designated person. Upon the
death of the life tenant, or the designated person, the
property passes to another designated person, called the
remainderman.
7. REAL PROPERTY RIGHTS
L P 7: P R O P E RT Y
N AU L A 310 0
c. Shared Estates in Real Property States allow two or more per sons to
share an owner ship interest in real proper ty under various forms of joint
owner ship.
( 1) Tenancy in Common Two or more per sons may share title to real
proper ty as tenants in common . Each tenant holds an undivided interest
in the proper ty. That is, each tenant has a right to use the entire parcel of
proper ty.
Tenants in common may hold dif ferent owner ship interests in the
proper ty.
For example, one per son may own a two -thirds interest in the
proper ty, another per son may own a one -sixth interest, and two other
per sons each own a one -twelf th interest. Each tenant may convey the
tenant's interest during his/her lifetime or upon the tenant's death. When
more than one per son receive title to real proper ty, it is presumed that
they receive title as tenants in common, unless specifically stated
other wise
8. REAL PROPERT Y RIGHTS
L P 7: P R O P E RT Y
N AU L A 310 0
A. Joint Tenancy When permitted by state law, two or more persons may
hold title to real property as joint tenants. Although similar to a tenancy in
common, joint tenancy includes the right of survivorship. When a joint
tenant dies, the tenant's ownership interest passes to the surviving joint
tenants. Like tenants in common, each joint tenant owns an undivided
interest in the property, with the right to use the entire parcel of property.
However, unlike tenants in common, joint tenants must each own an equal
interest in the property.
B. Tenancy by the Entirety – what’s yours in mine and what’s mine is
mine. Several states recognize a tenancy by the entirety, which is
essentially a joint tenancy between husband and wife.
C. Community Property Other states have enacted community property
laws, which establish that all property acquired by personal efforts of spouses
during a marriage is equally owned by husband and wife. Generally, separate
gifts and inheritance are not considered community property.
9. REAL PROPERT Y RIGHTS
D. Surface
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and Mineral Estates In many
states, it is possible to sever (separate) the
mineral estate from the surface estate. As a
result, it is possible for one person to own
the surface of the property and another
person to own the minerals below the
surface. There are also air rights.
10. ACQUIRING TITLE
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Persons may acquire title to real property through various
methods, including:
a. Deeds and conveyances
b. Inheritance
c. Adverse Possession
d. Foreclosure
e. Tax Deed
f. Eminent Domain
11. ACQUIRING TITLE
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Deeds and Conveyances A person may
acquire title to real property by a deed, a
written document signed by the grantor
and delivered to the grantee.
-If I give you a deed to my house, who is
the grantor? Who is the grantee?
12. ACQUIRING TITLE
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A. Warranty Deed
1. Warrants marketable title to the property
2. Warrants quiet and peaceable possession
of the property
3. Warrants that no encumbrances (e.g., liens)
affect the property, except as disclosed
B. Quitclaim (Dollar) deed.
-- "as is” no warranties
13. ACQUIRING TITLE
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C. INHERITANCE: A person may acquire an interest in real
property by inheritance.
A beneficiary will receive an executor's deed or personal
representative's deed conveying title from the decedent's
estate.
A person who dies without a will dies intestate. If the person
owned real property died without a will, the property will be
distributed to the decedent's heirs according to the state's
intestate statutes.
14. ACQUIRING TITLE TO REAL
PROPERTY
D. ADVERSE POSSESSION
-Using and maintaining land for a specific time period is usually
10, 15 or 20 years or more.
--Many states also require that the use be "open and notorious,"
--It doesn’t happen automatically. Bring court action to “quiet the
title”.
E. TAX DEED
--Nonpayment of taxes-someone else can pay them and get title.
--several years (6 years in some states) before a tax deed will be
issued.
--quiet title action
F. FORECLOSURE
Default on a mortgage, for example
15. ACQUIRING TITLE TO REAL
PROPERTY
G. EMINENT DOMAIN
Obtaining title for public purpose by the government.
First government will negotiate a purchase.
If an agreement cannot be reached, the government may
"condemn" the property and acquire title by eminent
domain.
Through a condemnation proceeding, the landowner is paid
the reasonable value of the property, as determined by a
court.
n such case, private property is converted to public property
through due process of law.
16. OTHER INTERESTS
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A. EASEMENT
right-of-way
Private roads, electric, telephone, and other utilities often
rely on easements to cross real property without owning it.
B.
LEASE
Longer than one year must be written to be enforceable statute of frauds--.
17. RESTRICTIONS
A.
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GOVERNMENT RESTRICTIONS
Unlawful purposes and zoning
Example: Liquor sales near a school, or the operation of a business in a
residential neighborhood.
Federal government restricts the operation of certain activities that may
have an adverse impact on the environment or may be regulated because
the activity involves interstate commerce.
Federal government requirement to obtain permissions before excavating
coal or starting a toxic waste dump on the owner's property.
B.
PRIVATE RESTRICTIONS
Covenants. When purchasing real property, inquiry should be made to
determine the existence of any covenants that may affect the intended use for
the property. Covenants may be enforced if they do not violate any law or
infringe any Constitutional protections.
18. PERSONAL PROPERT Y
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A. Ownership Interests in Personal Property
tangible or intangible- examples?
Similar to real property, title to personal property may be
acquired by purchase, gift, or inheritance.
B. Transfer of Personal Property
Certain items have special requirement for transferring
title
A simple receipt may serve as proof of purchase.
Intangible personal property, such as shares of corporate
stock and interests in a mutual fund, requires written proof.