Introduction - Property

1. A) Ownership = propiedad. B) things = bienes (things that can be owned like real
property or personal property and intellectual property. C) bundle of right= haz de
facultades for sell, transfer, possess, lease.
2. Real property – realty – real estate – inmovable: consists rights in a land and things
attached in a la land like “fixture”.
Personal property – personalty – chattels – movable: consists rights that its not
considered as a real property.
3. Fixtures (inmuebles por destino), are rights of personal property permanently affixed
to the real property. For example: the television, the
4. Chattels real: like leases
Chattels personal: other personal property
5. Choses in possession, tangible like cars, trees, jewerly
Choses in action, intangible like patents, trademark, goodwill of business
6. Corporal means tangible // Incorporal means intangible
7. Because property law its more general term, while Land law es more specific like real
property and personal property.
8. The nature of property, adverse possessions, acquisition of property, eminent domain,
leasehold estate, concurrent ownership.

**Meaning:

1. Propiedad / dominio = ownership

2. Cosas / bienes = things that’s is capable being owned
3. Haz de facultades = bundle of right
4. Bienes inmuebles = real property / realty / real estate / inmovable
5. Bienes inmuebles por destino = Fixture
6. Bienes muebles = personal property ( realty / personal estate / movable.

Means for acquiring ownership of property (or rights other in property)

1. Original acquisition of property its when the property never has been transfer
however, the derivative acquisition of property its when the property has been transfer
form one to another owner.
2. Occupancy it’s the occupation o appropriation of a property that’s no known owner,
taking the property as a possession.
3. The lost es Perdida. The mislaid is abandoner inadvertidamente and Abandoned is
abandonar.
4. Treasure trove means Tesoro oculto. Its something that have been hidden with the
idea that can be found in the future.
5. If I found a treasure trove today, may be affected by legislation protecting cultural
heritage assets.
6. Accession, its when acquiring property right throught natural. // Example of Personal
property its add a raw material to an item of personal property. // Example of real
property its accretion and alluvion. // Accretion, it’s a slow deposit sediment from
river onto river bank // Alluvion, it’s a rapid deposit sediment from river onto river
bank.
7. Those are: open, notorious, actual, adverse, continuous and exclusive.
8. Hostile possession means against the owner rights.
 9. Open and notorious possession its that have to be a public possession.
10. That’s its are for public interest or for purpose of public utility.
11. Eminent domain, its when the government expropriate private property for public use.
12. Derivative acquisition means when the ownership acquired from a previous owner.
13. 3 ways to transfer voluntary: at will, by gift and by sale.
14. Law intestacy it’s the law that distributed the decedent property to his heirs, when he
dies.
15. The property can lose his property by judicial auction, mortgage forclesure sale, and
tax lien.
16. Judicial sale / judicial auction, its when the court its force to sale the property.
17. The 2 instances to lose property trough a judicial sale: Mortgage forclesure and
insolvency.
18. Mortgage, its when give the property as guarantee payment for a loan. The parties are
mortgagee and mortgagor.
19. Tax lien, its when claim to a delinquent taxpayer property, while tax levy, its when
confiscated the delinquent taxpayer property for satisfied the debt.
20. Delinquent taxpayer, also known as taxpayer in default, taxpayer in arrears.
21. Back taxes, it also like unpaid taxes.

**Meaning:

1. Original acquisition
2. Occupancy
3. Possessor
4. Res nullius = Property with no known owner
5. Res derelicta = abandoned property
6. Lost property
7. Abandoned property
8. Mislaid
9. With no known owner
10. Finding
11. Finder
12. Treasure trove
13. Accession
14. Alluvion
15. Adverse possession / prescriptive adquisitive
16. Adverse possessor
17. Open and notorious possession
18. Posesion pacifica = possession quiet enjoyment of the property
19. Continuous possession
20. Statutory period
21. Eminent domain / expropriation / comdemnation / appropriation / compulsory
purchase
22. Public interest / public utility
23. Just compensation
24. Fair market value
25. Derivative acquisition
26. Gift
27. Will
 28. Judicial sale / public auction
29. Mortgage forclesure
30. mortage
31. mortgagee /mortgage creditor /mortgage holder /lender
32. mortgagor / mortgage debtor / borrower

Land Law (Law of real property)

1. Interest is maximum legal of ownership, it’s the right in property that can be inherited.
2. Feehold estate it’s a estate of ownership that an be for life or forever.
3. Fee simple estate it’s the absolute ownership that the decedents left to his heirs upon
dath. // Fee tail its restricted ownership for familu bloodline. // Tail male its restricted
ownership male family lines can inherite.
4. Determinable fee estate is when the fee may terminate if a certain condition occurs. //
Determinable means terminate.
5. Its when the property back or return to the original owner.
6. Life estate its usufructo vitalicio, it’s a estate limited in duration to the life of the owner
or another person. // A reversionary interest, its when the grantee dies, the property
or lofe estate will revert to the grantor. // A remainder interest, its when the grantee
dies, the life estate or property will pas to a third person who is a remainder man. // A
estate pur autre vie, its when the beneficiary of life estate decided doesn’t want or
need it, and conveys it to another person.
7. DEED its an instrument which the grantor grant to the grantee some type of interest in
land. // The parties are grantor and grantee.
8. Leasehold estate its les than the freehold estate.

**Meaning

1. Fee simple absolute

2. Life estate
3. Life tenant

Co-ownership (or concurrent ownership) of real property