1. Property Rights and Legal Descriptions Chapter 2

2. Real vs. Personal Property Real estate Property Real property Personal property Deeds Leases

3. Fixtures A personal property item that has become a part of the real property is called a fixture. Tests for fixture status include: –Intent of parties –Test of attachment –Test of adaptability

4. Mineral and Air Rights Mineral rights refer to the legal interests associated with oil, gas, coal, or other minerals that may be located beneath the surface of a parcel of land. Air rights refer to the legal interests associated with the space above the surface of a parcel of land.

5. Water Rights Water rights refer to the legal interests associated with water that flows across, touches, or is located in or under a parcel of land. –littoral proprietors. –non-navigable bodies of water riparian rights doctrine prior appropriation doctrine

6. Estates in Land Freehold estates - Ownership –Present interests Fee simple absolute estate Qualified fee estate Life estate –Future interests include: Reversion interest Remainder interest

7. Estates in Land Leasehold estates - Occupancy –Tenancy for a stated period –Tenancy from period to period –Tenancy at will –Tenancy at sufferance

8. Concurrent (Joint) Estates Tenancy in common Joint tenancy Tenancy by the entirety Community property

9. Other forms of joint ownership Condominium Cooperative Timeshare –Fee interests –Right to use

10. Basic Units of Measure for Land Distance Feet Miles – 1 mile = 5,280 feet Meters – 1 m = 3.28 feet Chains – 1 chain = 66 feet or 4 rods Rods – 1 rod = 16.5 feet

11. Basic Units of Measure for Land Area –Acres - 1 acre = 43,560 sq.ft. –Square Feet – Common when under 5 acres –Hectares – 1 Ha. = 2.471 Acres or 10,000 m 2

12. Legal Description Methods Metes and Bounds Rectangular Survey Recorded Plats

13. Metes and Bounds Start at a designated point of beginning and, through specific distances (metes) and directions (bounds), locate the boundary lines of the parcel. –Distances are measured in feet (to the nearest tenth or hundredth). –Directions are measured in degrees, minutes, and seconds. –Property corners are marked by reference points.

14. Rectangular Survey Principal meridians are north-south lines Base lines are east-west lines Township lines - North/South Range lines - East/West Townships - Combined Tnshp. & Rng. Sections - 36 within a Township –1 square mile or 640 acres Divisions of section - 1/2 and 1/4

15. Reference to Recorded Plats Many jurisdictions require developers to prepare accurate engineering drawings of their subdivision projects called plats. These plats are then entered into the public record as legal documents that can be referred to as needed to identify individual parcels of land that are included in the plat. With a properly prepared and recorded plat, a legal description for a property can be as simple as “Lot 4 of Block G of Grassy River Estates.”

16. Reference to Recorded Plats Referencing Plats –Lot –Block –Subdivision –Plat Book Recorded Location Reference