Condensed Chapter 7 Slides

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

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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 buildings 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. GeltnerReal Estate Principles for the New Economy: Norman G....
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Condensed Chapter 7 Slides - Real Estate Principles for the...

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