Exam (elaborations)
LEGL 2700 Test 2 Hackleman UGA Exam/161 Complete Accurate Q’s and A’s
LEGL 2700 Test 2 Hackleman UGA Exam/161 Complete Accurate Q’s and A’s
[Show more]
Content preview
LEGL 2700 Test 2 Hackleman UGA Exam/161Complete Accurate Q’s and A’s
property - -right to exclude others from resources that are acquired legally
-Property and Prosperity - -Promotes incentives, establishes capital
formation, easily divisible
-capital formation - -quality of resources that produces new or different
resources
-divisions of property - -real and personal
-Real Property - -ownership of land and mineral rights
-Personal Property - -movable resources, tangible and intangible
-air rights - -The right to use the open space above a property
-Subsurface Rights - -the rights to the natural resources below the earth's
surface
-fixtures on land - -Object of personal property that is so essential/annexed
to the land that it becomes part of the land (cleared up in contracts)
-Coastal Oil & Gas v Garza Energy - -coastal leases share 13 and out a
fracking well and pay a royalty fee, moved to a lot next to share 13 and
began tapping the same natural gas, stops paying royalty fee and gets the
same gas. since there was no injury to land, no problem
-Fee Simple Absolute - -no limitations or conditions attached to sell of land
-Fee Simple Defeasible - -may have a condition attached to its transfer
(land only can be used for a certain purpose)
-life estate - -Ownership of land for the duration of a person's life
-Leasehold Estate - -An estate that gives the holder (Tenant) a temporary
right to possession, without title.
-Concurrent Ownership - -Ownership by two or more persons at the same
time
-Joint Tenancy - -equal ownership shares. with right of survivorship, after
one owner dies, the other becomes sole owner of the resource
, -Tenancy in Common - -tenants can own different shares of the resource
-Easement - -a right to cross or otherwise use someone else's land for a
specified purpose.
-Easement by Reservation - -negotiating and buying ability to cross land
-Natural Easement - -easement by necessity to get from their land to the
nearest public road
-Negative Easement - -an adjoining landowner cannot do anything that
would cause your land to cave in or collapse
-Easement by Prescription - -when one person has used the land,
continuously and wrongfully, for a period of years, the titleholder of the land
can no longer prevent a person from using the land by crossing it
-Utility Easement - -a land definition that grants certain utility companies or
other entities the right to use land for a specific purpose
-Bailments - -goods placed into another's possession to be returned in the
future (much like a lease)
-Rule of First Possession - -the first person to reduce previously unowned
things to possession becomes their owner
-Adverse Possession - -when the land of another private person is adversely
and exclusively possessed in an open and notorious way
-Duke Energy Carolinas v Gray - -removal of the encroachment is a
recovery of real property lying outside the scope of section 1-50(a)(3); and
(2) therefore, this action fell within the twenty-year statute of limitations
-Possession through Confusion - -when identical goods are mixed together
by honest mistake, separate by returning proportional share
-Possession by Accession - -something that is added (accidentally picking
up someone's engine and building a car around it)
-Possession by Gift - -donor gives to donee both with intention and delivery
-Title - -Ownership represented by a physical document registered with the
state for certain resources
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller Victorious23. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for £8.38. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
79650 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy revision notes and other study material for 14 years now