Fixtures

Fixtures are those used to be personal properties but now become real properties because they are attached to the land in a certain manners.

To determine if something are fixtures, the court follows the following rules:

1. Method of attachment - how the fixtures are attached
2. Adaptability - how the fixtures are tailored made for the land/house
3. Relationship of Parties - sellers/buyers? landlords/tenants? or borrowers/lenders?
4. Intention of parties - Why the properties are attached to the land/house
5. Agreements between the parties

Further elaborations:

1. something nailed down is more likely to be a fixture than those handing on the wall
2. a wall-to-wall carpet is more likely to be a fixture than a square rug
3. court rules favor buyers, tenants and lenders

Real Property

By law, anything that is NOT personal property is real property and anything that is NOT real property is personal property.

This is a loop. So we have to firstly define what a real property is.

The followings are real properties:

1. Land
2. Those affixed to the Land
3. Those are appurtenant or incidental to the Land
4. Those are immovable according to the law

So Land is the center of the discussion.

Land:

Land includes the land surface, of course. In additional to that, it includes a reasonable amount of airspace above it. How do you define "reasonable amount"? It is up to the court to judge upon dispute. The spirit is to let the land owner to have quiet enjoyment. It also includes anything from the surface to the earth center! So it means that any minerals underneath is a part of the land. And if you own the land, you are entitled to those mineral as well.

Affixed to the land:

• Things permanently resting on the land
• Things permanently attached to a building
• Things attached to the land by roots

Note: grown crops are NOT real properties but personal properties

Appurtenant to the land:

These are something that is used by the land for its benefit and goes with the land. For example, the rights over adjoining land for light. If your neighbour has a big tree casting shadow on your solar panel, is this an intrusion to your right?

Immovables:

If a personal property is determined by the court to stay with the land, that property becomes a real property,

Property Rights

What is Property?
- that which is the subject of ownership

What is Ownership?
- the right of one or more persons to posses and to use the thing which is owned, to the exclusion of others

The law designates ownership rights in a bundle of the following rights:

to own property
to possess property
to use property
to enjoy property
to encumber or borrow money secured by property
to dispose of property
to exclude those who do not share ownership of the property

But right is not unlimited!

California Facts and History

FACTS

There are 2.5 billion acres of land in US (1 acre = 0.004047 squared km). California has 100 million acres (which is about 4% of them) and 3.7million of people.

Rule of thumbs: there are 50 states, CA has 1/25 of the land and 1/10 of the populations

Land ownerships:
Private: 51%
Federal: 44%
State: 3%
Local: 2%

HISTORY (Timeline):

Before European: Native Americans who respected their lands
1513: Balboa first sighted the Pacific Ocean
1542-1822: is the period of exploration, discovery and colonization, during which the Spaniards built Presidios (Fort), Pueblos (Communities) and 21 missions from San Diego to Sonoma
After 1822: Mexican granted large lands: Ranchos
1846: Mexican-American War
1848: Treaty of Guadalupe Hidalgo
Sept 9, 1850: Statehood established

A Summary of California Real Estate Principles 8th Edition

The purpose of this blog is to provide a summary of the book "California Real Estate Principles, 8th Edition". After reading the whole blog, you have completed an important step to take the California real estate salesperson or broker license exams.

Good luck to everyone!