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Property/Estates - Coggle Diagram
Property/Estates
Adverse Posession
To possesses adversely one must (1) adversely possess continuously for a statutory period (2) Be Open and Notorious (3) Have Actual and exclusive possessive (4) Be Hostile
Adverse Possession Cases bars SOL from running when the owner has a disability that began after the adverse possession began,
Adverse Possession allows trespasses to acquire title to another's prop w/o comp in a way that challenges owner's rights
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Color of Title= a title that looks valid but is ineffective. AP person with color of title may possess part of the property in good faith and may be able to acquire actual title for entire prop.
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Privity= relation between two parties recognized by law. Must be privity between successive adverse possessors
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Rights in Others Land
Easements
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Easements may be created expressly by grant or reservation; express grant by written agreement where owner of the servient estate gives easement to owner of Dom. estate. Reservation conveys title to land but reserves the right to continue using the land for a designated purpose.
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Types of Property
Real Property: Immovable= house (building), road, canal, road, ponds, railroad tracks (if it is affixed then it is in the gip of Real Property)
Fixtures= Property attached to real property; pass with ownership (stove, toilet)
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Land Sale Ks
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Process= First Contract to buy and or sell then the transfer of funds (escrow), followed by the escrow completion that allows deed transfer at a Closing and lastly conveyance.