Ownership

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L02

por Waqar Syed - Rick Hansen SS (2542)

POSSESIVES

por Maria Prieto

The world of business

por Chelsey Angeles

Possessive Pronouns

por Eri Kes

Ownership

.

Governments Right in Land

executrix is named in the decedent's will

handles the distribution of an estate

Sells land

patent

Public Controls

Sanitation

enforced by local health officers

Environmental Quality Act

allows the conversion of existing rental units to condominiums

Negative = good

Housing and construction; regulated

Contractor State License Law

State Housing Law

set minimum construction standards

Follows Uniform Building Codes

Health and Safety Codes

Local Building Codes

Highest construction standards

Department of Building and Safety

know as building inspector

Single family dwelling construction stages:

land acquisition, development and construction.

Subdivided Lands Law

Subdivision

requires comprehensive market analysis

Land Project Subdivisions

Not required

sales promotion cost are nominal with little direct mail ads

if lots are sold to builder or developer

In Fill

Targeted for new construction

50 or more unimproved lots

Buyers have 15 days to rescind contract

Final Public Report

Subdivider gives Public Report and a receipt to buyer before entering a binding contract

receipt must be filed by sub-divider for 3 years

buyers must be given a copy

may be obtained by anyone

sub-divider submits

Stop violations with a 'Desist and Refrain Order' from the commissioner

If a blanket encumbrance is used

Commissioner may require impound account

Contract, maps, and finance papers

Financial arrangements to assure completion of community recreational facilities

regulates 5 or more lots

Designed to prevent fraud

Regulated by the Real Estate Commissioner

Subdivision Map Act

regulates subdivisions of 4 or less parcels

grants cities control over subdivision

By way of a Master Plan

Courts

Adverse Possession

living on the land is not required

5 years open notorious continuous possession, color of title; pay taxes for five years; quiet title

Probate Sale

creditors have four months to file claims

Commission determined by Superior

execution sale - sold under a 'writ of execution'

Inverse Condemnation

Force the government to purchase damaged property due governmental works

Less then Fee-hold estate

Termination of lease

Atonement

tenant agrees to recognize new owner

Accord and Satisfaction

when amount of debt is in dispute

Surrender

mutual agreement

Constructive eviction

by landlord

Transfer of Leasehold Interest

Assignment

Sublease

transfer possession but not ownership

Creation of a lease

LAND

Types of Leases

percentage lease

commercial parking would pay the highest percentage lease

based on gross receipts

Net Lease

fixed income

Gross lease

lessee pays fixed amount

Estate in sufferance

tenant stays in possession after expiration of lease

Estate at will

indefinite period

periodic tenancy = month to month

Estate for years

must have termination date

Freehold estate

Original grantor holds an estate in reversion

Cannot will the estate if tenancy is based on the life tenant's life

Life Tenant may sell, lease or encumber

when life tenant dies

estate revert to original owner

Fee Simple

Life Estate

Subtopic

estate of inheritance, perpetual estate estate in fee, fee estate =

Fee Simple De-feasible

Condition subsequent =

e.g. If one dances title reverts original owner

Fee simple absolute

maximum rights possible

Encumbrances; burden on property

Non money; encumbrances

restrictions

public

Condemnation

Zoning

private

CC&R

violations stopped by injunction

Declaration of restrictions

general plan created by developer

conditions

violation may result if loss of title

covenant

created by grantor or developer

by deed or written agreement

encroachments

Owner is allowed 3 years to sue for trespassing

easements

Termination

Non use

5 years terminates non use ends by prescription

Merger

Express Release

Creation

prescription

5 years open notorious use

reservation

grantor maintains an easement

Express Grant

Easement in Gross

Appurtenant Easement

benefits the Dominant Tenement

Liens; Money encumbrance

General

Government liens have priority

Income tax lien

Judgement

Voluntary Lien

Involuntary Lien

Judgement liens

writ of execution to satisfy judgement

sheriff's sale

valid for ten years

Attachment lien

holds property pending court case outcome

Specific

Trust Deed

Mechanic's lien

Demolition Date

may act as start date

Construction loan

could lose its priority

If file after construction project has started

last payment is released after period to file mechanic's lien is expired

Notice of completion

If not filed; claimant has 90 after completion of work

Notice of Non-responsibility; by owner

recorded within 10 days of becoming aware

e.g. tenant contract to have work done

Priority of payment; earlier then recording date

Starts the day work began or when materials were delivered

must be verified and recorded

Fixtures

e.g. vegetation is real property

bushes, grass and trees

Adaptability

Intention

Relationship of parties

Agreement

Method of attachment

Real immovable

Appurtenances

crops planted by the owner of a farm

e.g. stock in a mutual water company is real property

things used with the land for its benefit

Water rights

relict-ion

increase of land

permanent withdrawal of sea or river

Accession

land being added to other property

Accretion

slow growing of land bordering river

Appropriation

government gives permission to a non-riparian owner to take water from neighbor's land

Littoral

Non-moving water

riparian

rights cannot be determined from public records

if navigable

edge of the water

moving water at a boundary

to midpoint

right can be severed voluntary transfer, condemnation or prescription

appropriate use under or adjacent

surface land, mineral, air and water rights

Personal property

Crops when cut or sold

trade fixture attached to leased property by a business for trade