Condensed Chapter 7 Slides

Condensed Chapter 7 Slides - “Real Estate Principles for...

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Unformatted text preview: “Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner Chapter 7 Real Estate Property Rights, Fixtures and Ownership “Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner Major Topics ♦ What is real property? ♦ Legal methods of Property description ♦ Holding title to the real property ♦ Property owner rights ♦ Surface, Water, Air ♦ Duration of ownership ♦ Fixtures ♦ Subsurface ♦ Forms of ownership “Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner ♦ Surface of Land ♦ Attachments to that surface ♦ Area beneath surface ♦ Rights in the air Real Property Includes More Than Just Land “Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner Water Rights ♦ Riparian System ♦ Doctrine of prior appropriation ♦ The state owns the land ownership of land located beneath the river “Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner Fixtures ♦ Items that are attached to real property and have become integral part of the building’s function ♦ An item classified as fixture is transferred as part of real property ♦ Determining whether an item is a fixture or not: ♦ Intent ♦ Attachment ♦ Uniqueness or adaptation to the property ♦ Ownership “Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner Subsurface Rights ♦ Mineral Rights ♦ Oil and Gas Air Rights Right to Light “Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner Legal Description Necessary for Transfer of Property ♦ Importance of legal descriptions ♦ Metes and Bounds System ♦ Rectangular Survey System ♦ Plat Maps and Survey ♦ G.P.S. “Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner Metes and Bounds “Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner Rectangular Survey System “Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner“Real Estate Principles for the New Economy”: Norman G....
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This note was uploaded on 02/07/2012 for the course FIN 4380 taught by Professor Staff during the Spring '08 term at Texas State.

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Condensed Chapter 7 Slides - “Real Estate Principles for...

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