Revised Chapter 7 Slide 1 Copyright – David A. McGowan All rights reserved Chapter 7 INTERESTS IN REAL ESTATE Freehold Estate Indeterminable length of time Fee Simple “Run forever” Life Estate Duration of a life

Revised Chapter 7 Slide 2 Copyright – David A. McGowan All rights reserved FEE SIMPLE ESTATES Special Limitation Must Perform (Page 109) Fee Simple Absolute Most complete form of ownership available (Page 108) Fee Simple Defeasible Ownership based upon a condition (Page 109) Condition Subsequent Must NEVER Perform (Page 109)

Revised Chapter 7 Slide 3 Copyright – David A. McGowan All rights reserved LIFE ESTATES Conventional Statutory

Revised Chapter 7 Slide 4 Copyright – David A. McGowan All rights reserved LIFE ESTATES Conventional (Page 110) Ownership based upon a life OrdinaryPur Autre Vie Reversionary Remainder

Revised Chapter 7 Slide 5 Copyright – David A. McGowan All rights reserved LEGAL LIFE ESTATE (STATUTORY) Dower (Page 113) Wife’s future interest in husband’s estate Curtesy (Page 113) Husband’s future interest in wife’s estate

Revised Chapter 7 Slide 6 Copyright – David A. McGowan All rights reserved LEGAL LIFE ESTATE (STATUTORY) Homestead (Page 113) Protection from creditors Everyone qualifies Available on principle residences only Individual - $15,000 Married couple - $30,000

Revised Chapter 7 Slide 7 Copyright – David A. McGowan All rights reserved ENCUMBRANCES A claim, charge or liability that attaches to real estate Liens (Chapter 10 Page 175) Deed Restrictions (Page 115) Easement (Page 115) License – Personal privilege (Page 119) Encroachments (Page 119)

Revised Chapter 7 Slide 8 Copyright – David A. McGowan All rights reserved EASEMENT Right to use the land of another Store Work A E DC B Cliff Public Street

Revised Chapter 7 Slide 9 Copyright – David A. McGowan All rights reserved EASEMENT APPURTENANT (Page 115) Recorded against title Runs with the land All subsequent owners are subject to its existence Servient Tenement Must service the needs of the Dominant Dominant Tenement Right to use must overshadow the rights of the land owner

Revised Chapter 7 Slide 10 Copyright – David A. McGowan All rights reserved EASEMENT BY PRECRIPTION Use of the land of another for a prescribed period of time Public Street A Public Street B Public Street C Public School

Revised Chapter 7 Slide 11 Copyright – David A. McGowan All rights reserved ENCUMBRANCE TERMS Easement by Necessity Easement required when a parcel lacks public access Easement in Gross An individual interest in or right to use the land of another – not assignable

Revised Chapter 7 Slide 12 Copyright – David A. McGowan All rights reserved TERMINATING AN EASEMENT Purpose no longer exists Owner of either the dominant or servient acquires the other and merges the parcels Release of the easement by the dominant tenement

Revised Chapter 7 Slide 13 Copyright – David A. McGowan All rights reserved TERMINATING AN EASEMENT Nonuse Adverse possession Lawsuit

Revised Chapter 7 Slide 14 Copyright – David A. McGowan All rights reserved ENCROACHMENT (Page 119) A B Physical intrusion of your real estate into the real estate of another

Revised Chapter 7 Slide 15 Copyright – David A. McGowan All rights reserved ENCROACHMENT (Page 119) A B 6 ft.

Revised Chapter 7 Slide 16 Copyright – David A. McGowan All rights reserved GOVERNMENTAL POWERS (Pages 120 & 121) Police Powers (Chapters 20 & 22) Obligation of the government to protect your health, welfare and safety Eminent Domain Right of the government to take private property for public good

Revised Chapter 7 Slide 17 Copyright – David A. McGowan All rights reserved GOVERNMENTAL POWERS (Pages 120 & 121) Taxation (Chapter 10) Right of the government to collect funds in support of governmental services Escheat Obligation of the government to take ownership of property left by a deceased person who has neither a will nor heirs

Revised Chapter 7 Slide 18 Copyright – David A. McGowan All rights reserved WATER RIGHTS (Page 122 & 123) Riparian Rights rights of owners of land along the course of a river, stream or similar body of water. Navigable vs. Non-navigable Littoral Rights rights of owners whose land borders a waterway affected by tide

Revised Chapter 7 Slide 19 Copyright – David A. McGowan All rights reserved WATER RIGHTS (Page 123) Accretion increase in the land resulting from the deposit of soil by the water’s action Erosion is the gradual wearing away of the land by natural forces. Avulsion is the sudden removal of soil by an act of nature.