REE-3043 Chapter Notes - Chapter 2: Timeshare, Concurrent Estate, Mandatory Retirement

• School: FSU
• Department: Risk Management/Insurance, Real Estate and Legal Studies
• Course: REE-3043
• Professor: Stephen Bailey

Document Summary

Rights: are claims that the government is obligated to enforce from the constitution. Can be reduced in interest of health, safety, and welfare. Do(cid:374)"t fade o(cid:448)e(cid:396) ti(cid:373)e & (cid:272)a(cid:374)"t (cid:271)e (cid:374)ullified (cid:271)(cid:455) people o(cid:396) go(cid:448)e(cid:396)(cid:374)(cid:373)e(cid:374)t: personal rights. Freedoms guaranteed by constitution: property rights. Rights in land and its permanent structures. Surface above and below the earth and improvements, air above: personal property. Fixtures: real property that formerly was personal property, rules for determining. Any set of rights in real property: estate. An interest in real property that includes the right of exclusive possession: non-possessory interests. Ownership (freehold) estates: fee simple absolute. All possible rights: fee simple conditional. All rights, but revocable if specific condition is violated: life estate with remainder interest. Must be written more than once a year. The right to use land for a specific and limited purpose. Easement appurtenant: (cid:862)ru(cid:374)s (cid:449)ith the la(cid:374)d(cid:863, rights and obligations are inseparable from the parcels involved, affirmative easement.