Immovable 

Bearing Wall

Not Leasehold Estates

Incorporated into the land

Not Cost

Not Time of Attachment

Easements, Water Company Stock, Covenants, Minerals

No Seperate Conveyance 

Personal Property

Hypothecated

Alientated

Become Real Property

Fee Simple Estates (Fee Estates)

Indefinite Duration

Free hold - Owner

Most interest one can hold in land

Not Free of encumberances

Inheritance

Fee Simple Defeasible

Conditions on the property and if that condition isnt met, the property is taken back

Ex. No Alcohol

Life Estate, Property is Leased

Owner dies, Lease is terminated

Lessees

Not Necessary to sign a lease

6 months = Estate for years

Personal Property = Chattel Real

Transfers possession, not ownership

Can Sublease or assign if not mentioned

Entitled to

Paramount

Possession without being disturbed

Security Deposit

Sole Ownership

Individual

Equal Interest

One Title for the whole property

cannot will

free of unsecured debts

Can Convey separately 

Unity of Possession

Community Property

Agreement to Sell

Cloud on Title

For public use

Taken by the government

individuals do not have 

owner must be paid just compensation

Executed when signed

Not necessary to be recorded

Conveys rights of grantor

Taking someone off title to obtain sole ownership

No covenants

Granting Clause

Legal Competance of Grantor

Not Acknowledged 

Delivered and Accepted

Given by recording

First to record or possess gets property

No confrontation w/ owner

Can easily be terminated for non-use

Deed restrictions prevail over zoning restrictions

Private Restrictions

and

A condtion of Private Restrictions

Created by the Grantor or Developer

and 

Penalties are more severe

Public Health

Safety

Moral

General Welfare

one lot = Variance

Changes to a Public Restriction can be initiated by...?

Owner

Subdivider

Govt Agency

A charge imposed 

Trust Deed and Mortgages are liens

No Principal payments made, only interest

Partially Amortized

No Knowledge of defects

Loans Money

Consent for consolidation and new restrictions

One year redemption period

Trustor possesses property

3 months before publishing

Right of reinstatement

Most Expedient

Borrowers Equity

Gives current balance

Beginning of contruction 

Earlier than date recorded

Could impair trust deed

Completion

Cessation

Non-responsibility

Seller to trustor

Remove mechanics lien

Most buyers obtain

No survey or onsite inspection

Forgery

Improper Delivery

Zoning

No policy covers everything

County clerk

County recorder

Federal land office

Obvious

Knowledge

Cost

No expenses on income property

Misleading Advertising

Misleading map

Move right in - Major Repairs

Both broker and salesperson

Broker Relationship: Salesperson as Independent Contractor

Broker must read advertising

Must be supervised on internet

Both guilty if solicits buyers and sellers

Seperate trust funds

Any employee

Income Rises

Home sales Increase

Portfolio Risk Managment 

concerned with all individual savings

Financial deregulation-pay any rate of interest

Large Loans

Work through mortgage companies

Most funds in real estate

Primary source

Substandard loans

Degree of risk most important

Legal title-vendor

Security device

Transfers equitable title

No downpayment

Cannot be an rental property

Land contract

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