Real Estate License Mn

MARIA

Method of attachment,

Adaptability of item to landuse

Relationship of parties

Intention to be temp or perm

Agreement of the parties

DEEP C

Disposition

Enjoyment

Exclusion

Possession

Control

Earth surface extending downward and air plus all attached trees bodies of water

LAND + permanent human made addition

Real Estate plus bundle of legal owner's Rights

Common law right to land owner next to River or stream or flowing water to use

Owners of land bordering lakes, sea, oceans= navigate able water have unrestricted use of availabile water , own land to average high water mark.

State determine requirements of water permitted use. Beneficial is awared permit. Water Rights may attach to land

An article owned by a tenant attached to rented space used in conducting business

Must be removed by last day or become fixture to landlord

Acquiring real property by abandoned trade fixture not removed from rental property at end of lease.

Scarcity

Improvements

Permanence of Investment

Area preference

Immobility. - fixed geography

Indestructibility

Uniqueness - non Homogeneity

Uniqueness of land no two parcels of land are exactly the same or in same location

Area preference

Location, location, location

Econ. character of real estate

Unique qualify results in different price point. Often single most important econ factor

Owning interest possession of real property for an indeterminate length of time Fee Simple. Or

Fee defeasible

Type of Estate that is Qualified and subject to an occurrence or restrictions of specific event

Highest form of real Estate interest recognized by Law

A freehold Estate(real property Interest) based on the length of life if a tenant or someone else (PUR AUTRE VIE)

A claim, charge or liability that attaches to Real Estate like a lein

A charge against property that provides security for a debt or obligation of property owner

Covenant condition and Restrictions are private limits on the use of land as listed in deed of sub divisions

Alright to use land of another created by written agreement and runs with the land unless

An easement that give rights that stay with the deed of the property

The intesest of a individuals or company right to use another's property

Interest when land had no access to a street or public way.

Interest is aquired when claimant (squater) had used another person's property for 15 years continuously non-exclusive, visible, open and notorious

Need is gone

Owns both parcels

Release by dominant tenement

Abandoned

Or Non use of Prescriptive eas

Personal priviledge to enter the land of another for a specific purpose

Occurs when all or part of a structure illegal intrudes on the land of another or beyond legal building lines

Gives notice of litigation in progress that may affect title to property

The states authority passed down to county and local through legal acts to preserve order, protect public health and safety promote general welfare

PETE. Police Eminent domain Tax Escheat

When the state takes control of property after the owner dies leaving no will or lawful heirs

5th amendment requires that owners be given just compensation in a condemnation. Eminent domain

If an adjacent public land diminished the value of the owners property but property is not condemned for public use property owner may claim compensation

Estate interest that will only be possible at some point in the future and may never take effect reverter or right of entry

Interest in and possession of land determine by the life time of a person

An ownership interest that continues for indetermined time frame

Time and interest in Real Property

Fee Simple Estate Or Life Estate

Fee simple Absolute

Fee simple defeasible

Condition life Estate

Legal life estate

The owning interest in Real property that is subject to some specific event occurrence or non occurrence

Real property Qualified by special Limitations: so long as, -while - during: may be inherited - former owner retains possible right of reverter , may be inherited

a Condition of ownership, that if violated require legal action to assert right of reverter