chapter 2
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Chapter 2. Property Rights and Legal Descriptions. Real vs. Personal Property. Real estate Property Real property Personal property Rights to property - Title - Deeds - Leases. Fixture. A personal property item that has become a part of the real property is called a fixture. - PowerPoint PPT PresentationTRANSCRIPT
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Chapter 2
Property Rights and Legal Descriptions
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Real vs. Personal Property
Real estate Property Real property Personal property Rights to property
- Title - Deeds - Leases
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Fixture
A personal property item that has become a part of the real property is called a fixture.
Tests for fixture status include: Intent of parties Test of attachment Test of adaptability
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Original Property Rights in Hawaii
Hawaiian King distribution of original land
Original lots extended from the mountains to the sea - Pie-shaped
Intent to provide owners with all the natural resources needed to survive
Mountains to trap rain water for drinking and irrigation
Forest land for wood and hunting
Middle ground for farming Coastal land for fishing
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Air Rights
Air rights refer to the legal interests associated with the space above the surface of a parcel of land.
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Mineral Rights
Mineral rights refer to the legal interests associated with oil, gals, coal, or other minerals that may be located beneath the surface of a parcel of land.
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Water Rights
Water rights refer to the legal interests associated with water that flows across, touches, or is located in or under a parcel of land. littoral proprietors non-navigable bodies of water
riparian rights doctrine prior appropriation doctrine
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Ogallala Aquifer
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Estates in Land
Freehold estates Present interests
Fee simple absolute estate Qualified fee estate Life estate
Future interests include: Reversion interest Remainder interest
Leasehold estates Tenancy for a stated period Tenancy from period to period Tenancy at will Tenancy at sufferance
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Figure 2.1
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Concurrent Estates
Tenancy in common Joint tenancy Tenancy by the entirety Community property
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Other forms of joint ownership
Condominium Cooperative Timeshare
Fee interests Right to use
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Legal Description Methods
Metes and Bounds Rectangular Survey Recorded Plats
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Metes and Bounds
start at a designated point of beginning and, through specific distances (metes) and directions (bounds), locate the boundary lines of the parcel (see Figure 2.3 on page 27). Distances are measured in feet
(to the nearest tenth or hundredth).
Directions are measured in degrees, minutes, and seconds. (See Figure 2.2 on page 26)
Property corners are marked by reference points.
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Figure 2.3
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Figure 2.2
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Rectangular Survey
Principal meridians are north-south lines
Base lines are east-west lines Range lines Township lines Townships Sections Divisions of section
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Figure 2.4
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Figure 2.5
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Figure 2.6
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Figure 2.7
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Reference to Recorded Plats
Many jurisdictions require developers to prepare accurate engineering drawings of their subdivision projects called plats.
These plats are then entered into the public record as legal documents that can be referred to as needed to identify individual parcels of land that are included in the plat.
With a properly prepared and recorded plat, a legal description for a property can be as simple as “Lot 4 of Block G of Grassy River Estates.”
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Figure 2.12
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Legal Descriptions in Texas
Different methods used
Metes & Bounds (southern TX)
Rectangular (Panhandle)
Plats (lot/block)
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End Chapter 2