MA Salesperson Property Rights Module 2 Exam

Personal Property - Correct Ans-Anything not associated with the land, personalty, moveable property Real Property - Correct Ans-the land, anything attached to the land, and all of the various rights associated with the ownership of the land Deed - Correct Ans-receipt for real estate granting title - Correct Ans-transferring ownership Right to possession - Correct Ans-own right to control - Correct Ans-use right to enjoyment - Correct Ans-use it in any legal way right to exclusion - Correct Ans-limit access to right to disposition - Correct Ans-rent, sell, will full or limited - Correct Ans-rights can be given in land and surface rights - Correct Ans-extend approximately 30 feet below the land's surface improvements - Correct Ans-anything permanently attached (directly or indirectly) to the land fixtures - Correct Ans-individual improvements attached to the property vertical interest - Correct Ans-air rights above the property and oil/mineral rights below the property liquid mineral rights - Correct Ans--landowner does not own them but they have the right to capture them in two ways: doctrine of capture or utilization pooling depending on the state Doctrine of Capture - Correct Ans-grants ownership of fluid minerals to the party who extracts them Utilization Pooling - Correct Ans-The landowner does own a fraction of whatever liquid mineral rights exist under their property United States vs. Causby - Correct Ans-changed air rights to between 80-500 feet above the property to be "navigable" air space and is under jurisdiction of the Federal Aviation Authority. Air rights can be leased by the landowner Mineral rights - Correct Ans-extends all the way to the earths core and can be purchased separately from the land. The owner of the rights automatically gains the right to harvest the materials as an implied easement. Riparian Rights - Correct Ans-The ownership rights for landowners whose property borders a river or other waterway. Used by all of the eastern states including the 13 colonies. Properties bordering navigable rivers - Correct Ans-have rights up to the accretion line (edge of water). Properties bordering non-navigable rivers - Correct Ans-have rights up to the midpoint of the water Doctrine of Prior Appropriation - Correct Ans-Used by western states, bases ownership on whoever used the water first Littoral Rights - Correct Ans-The ownership rights of properties bordering lakes and oceans Properties bordering lakes and oceans own all of the land up to the - Correct Ans-accretion line (edge of the water often means high tide line) Littoral rights in MA - Correct Ans-extend from the mean high-water line to the mean low-water line, or 100 rods (1650 feet) from the high water line (whichever is less). Appurtenance - Correct Ans-any property rights the exist outside the boundaries of the property itself -easement, right of way across an adjoining property Attachment - Correct Ans-whether or not it is permanently attached to the land Adaptability - Correct Ans-where the property is custom built or fit, or generically fits everywhere. Intention - Correct Ans-the intent of the person who installed the property, if they wanted it to be permanent Agreement - Correct Ans-the buyer and seller of a piece of property can agree to treat a piece of property as either personal or real. This overrides all tests. Statute of Frauds - Correct Ans-law requiring that the real estate contracts in writing to be legally enforceable. -all items of a real estate sale are included in a home sale unless specifically excluded in writing. Trade Fixtures - Correct Ans-items of business property that are somehow permanently attached to the land but are treated as personal property because they were installed for the use of one business. Typically a concern for commercial tenants and often outlines in their lease to avoid disputes. Emblements - Correct Ans-crops that are planted annually or biannually (corn or wheat). Treated as permanent property because they were intended to be permanent and are only planted to be harvested. Apple trees and vineyards do not qualify as emblements. Annexation - Correct Ans--personal to real -ADD -planting a sapling Severance - Correct Ans--real to personal -SUBTRACT -digging up a tree