Term
Who creates Zoning Laws?
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Definition
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Term
The power to create Zoning laws comes from where?
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Definition
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Term
When you own property what rights do you own?
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Definition
Air rights, Surface Rights, Quiet Enjoyment, and Subsurface rights to minerals.
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Term
What is odd about land rights prior to 1930 vs after 1930s?
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Definition
Air Travel became more prominent, making ownership of air rights a hassle.
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Term
Airspace is what?
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Definition
A public aerial highway, people can still have air rights, but they are limited.
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Term
If you move somewhere, where there is a pre-existing nuisance, then you can do what?
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Definition
Not sue the nuisance
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Term
What is a Material Fact?
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Definition
Fact which expression (concealment) would reasonably result in a different decision.
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Term
Can a Seller be sued for not disclosing a Material Fact if lack of disclosing a Material Fact has infringed on the buyer's property rights?
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Definition
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Term
Do people have a right to their property value?
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Definition
Only if you can't practice your livelihood or the government is about to reduce your property value to almost zero.
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Term
What can you sell with property rights?
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Definition
Bundles of sticks
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Space above your property for building
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Areas of your property
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Minerals under your property
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Term
What are Fee Simple Possessory rights?
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Definition
Absolute right of property within the law
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Term
What are Fee Simple Rental rights?
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Definition
Rights to property limited to what is detailed in the lease
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Term
What are Non-Possessory rights?
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Definition
Access to a property, in which you don't have the right to live there.
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Term
If the tide hits private property, then where the tide hits is where?
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Definition
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Term
Do easements run with the land?
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Definition
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Term
What is running with the land?
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Definition
Property that moves from deed to deed to deed.
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Term
What is Adverse Possession?
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Definition
(1) Continuous; this means continual.
(2) Hostile to the interests of the true owner; this is the adverse part of adverse possession.
(3) Open and notorious, so as to put the true owner on notice that a trespasser is in possession.
(4) Actual, so that the true owner has a cause of action for trespass, on which the true owner must act within the statute of limitations.
(5) Exclusive, in order that there be no confusion as to who acquires title once the time has run.
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Term
What is a Quick Claim Deed?
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Definition
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Term
What are East Water Rights?
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Definition
Use can't interfere with down stream users.
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Term
What are West Water Rights?
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Definition
Its first come, first serve.
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Term
What are limits on property rights?
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Definition
Zoning
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Eminent Domain
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Restrictive Covenant
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Term
What is a Restrictive Covenant?
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Definition
A private restriction within the the deed for the property
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Term
Do Fixtures Come with the house?
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Definition
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Term
What is a Life Estate?
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Definition
If X dies, then Y gets the estate, regardless of if Z currently owns the house.
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Term
What is an Externality?
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Definition
A cost a business doesn't have to deal with, that is a cost to the public.
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