Real 4000 - Real Estate Law - Chapter 3
Exam Questions and Answers
Air Rights - -The rights to use the air above the land.
- Subsurface Rights - -the rights to the natural resources below the earth's
surface
- Air Right Limits - -Regulated Airspace
Local Landlaws for building height
Practical limitation of how high you could really go
- Condominium rights - -Air Rights
- Air Rights convenance method - -By deed
- Right to a View - -No Common Law right to a view
Landowners assume risk of changing landscapes
- Surface and Subsurface Rights - -Split into two different Estates
Both possessory
Subsurface borders may not align with borders of surface rights
- Rule of Capture - -the owner of an oil or gas well could claim all that is
pumped from it, regardless of whether the oil or gas migrated from adjacent
property
- Rule of Capture Limitations - -May not drill across subsurface boundaries
Stored Reserves.. Must be in "Natural State"
Enchanched Recovery Operations
Government Regulations
- Subsurface Estate Classification - -Fee Ownership
Servered Subservice Estate with Easement over surface rights
Profit a Prendre(Easement coupled with right to remove)
May convey by Deed(Sell) or Lease
- Oil and Gas Leases - -Right to use surface and take
Goes on for as long as Oil and Gas is produced
Royalty goes to Lessor
- Trespass - -enter the owner's land or property without permission
Exam Questions and Answers
Air Rights - -The rights to use the air above the land.
- Subsurface Rights - -the rights to the natural resources below the earth's
surface
- Air Right Limits - -Regulated Airspace
Local Landlaws for building height
Practical limitation of how high you could really go
- Condominium rights - -Air Rights
- Air Rights convenance method - -By deed
- Right to a View - -No Common Law right to a view
Landowners assume risk of changing landscapes
- Surface and Subsurface Rights - -Split into two different Estates
Both possessory
Subsurface borders may not align with borders of surface rights
- Rule of Capture - -the owner of an oil or gas well could claim all that is
pumped from it, regardless of whether the oil or gas migrated from adjacent
property
- Rule of Capture Limitations - -May not drill across subsurface boundaries
Stored Reserves.. Must be in "Natural State"
Enchanched Recovery Operations
Government Regulations
- Subsurface Estate Classification - -Fee Ownership
Servered Subservice Estate with Easement over surface rights
Profit a Prendre(Easement coupled with right to remove)
May convey by Deed(Sell) or Lease
- Oil and Gas Leases - -Right to use surface and take
Goes on for as long as Oil and Gas is produced
Royalty goes to Lessor
- Trespass - -enter the owner's land or property without permission
