PROPERTY LAW & DESCRIPTIONS — FL RE SALESPERSON CHEAT SHEET

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REAL vs. PERSONAL PROPERTY

|---|---|---| Key: Contract controls what stays/goes. Check the paperwork! ---

MARIA TEST FOR FIXTURES

*(Determines if item moved from personal to real property)* |---|---|---| Exam Tip: Freestanding refrigerator = personalty (moves). Built-in = fixture (stays). Always check contract first. ---

LAND CHARACTERISTICS

Physical:

• Immobile (location permanent & unique)

• Indestructible (improvements can be destroyed, land cannot)

• Non-homogeneous (no two parcels identical)

Economic:

• Scarcity (finite supply)

• Situs (location = dominant value factor)

• Long-lived improvements

• Improvements affect value (on-site & off-site)

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BUNDLE OF RIGHTS

Owner can:

• Possess | Control | Enjoy | Exclude | Dispose

Government Limits (PETE):

• Police power | Eminent domain | Taxation | Escheat

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CO-OWNERSHIP FORMS

|---|---|---|---|---| Exam Rule: JT must be expressly stated in deed in FL. Default = TIC. No survivorship without express language. ---

DEED TYPES & WARRANTIES

|---|---|---|---| 5 Covenants = SCEQF:Seisin, Convey authority, Encumbrances, Quiet enjoyment, Further assurance ---

ESSENTIAL DEED ELEMENTS (ALL 8 REQUIRED)

Legally competent grantor ✓

Identifiable grantee ✓

Granting clause ("grant," "convey," "bargain and sell") ✓

Legal description (precise; not street address) ✓

Consideration stated (even nominal) ✓

Signature of grantor only (grantee doesn't sign) ✓

Two witnesses (FL requirement) ✓

Delivery & acceptance (intent to transfer) ✓

*Notarization required for recording—not required for validity between parties.* ---

LEGAL DESCRIPTIONS — 3 FLORIDA METHODS

|---|---|---|---| Key: Must precisely identify property. Ambiguous description = void deed/title defect. ---

FLORIDA-SPECIFIC RULES

Homestead Protection → Exempt from creditors (except mortgage, taxes, mechanics lien); property tax capped at 3% annual increase (Save Our Homes). Riparian = Running water (rivers/streams) | Littoral = Standing water/ocean Accretion (gradual land build-up by water deposit) = Owner gains land Avulsion (sudden erosion/loss) = Boundary unchanged; owner loses land Recording Statute = FL uses race-notice: First BFP to record without prior notice wins. ---

CONDO vs. CO-OP vs. TIMESHARE

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Characteristic	Real Property	Personal Property
What it is	Land + permanently attached items	Movable items; not affixed
Transfer method	Deed	Bill of sale
Examples	House, fence, built-in appliances	Car, furniture, freestanding appliances
Factor	Test	Example
Method	Permanently attached? (bolted, cemented, built-in)	Dishwasher = fixture
Adaptation	Specially made for this property?	Custom cabinets = fixture
Relationship	Buyer wants fixture; Seller wants personalty	Default dispute favors buyer
Intention	Did owner intend permanence?	Attached with intent = fixture
Agreement	Contract overrides ALL others	Written provision controls
Form	Ownership Shares	Transferable?	Survivorship?	Key Rule
Tenancy in Common (TIC)	Unequal allowed	YES—freely	NO	Default co-ownership
Joint Tenancy	Must be equal	YES—severs TIC	YES ✓	Requires 4 Unities: Time, Title, Interest, Possession
Tenancy by Entireties	Equal (married only)	NO—not severable	YES ✓	Divorce = converts to TIC
Deed Type	Warranties	Risk to Buyer	Use
General Warranty	ALL 5 covenants (seisin, convey, no encumbrances, quiet enjoyment, further assurance) vs. ALL prior claims	Lowest	Standard residential sale
Special Warranty	Same 5 BUT only vs. defects during grantor's ownership	Medium	Commercial, foreclosure
Quitclaim	NONE—grantor conveys "whatever I have"	Highest	Clearing title disputes; family
Method	System	Format	Common Use
Metes & Bounds	Oldest; compass directions	"From POB, North 45° East 100 feet, then..."	Irregular parcels; coasts; older deeds
Rectangular Survey (PLSS)	Township/Range/Section grid	"T3S R2E, Section 12, NW¼"	Most of FL; standard parcels
Plat	Lot & block recorded map	"Lot 5, Block 3, Oak Hill Subdivision"	Modern residential; subdivisions
Form	Title	Governance	Lien Risk	FL Law
Condo	Fee simple unit + TIC in commons	Chapter 718 Assoc.	Unpaid assessment = lien	Heavy testing
Co-op	Corporate shares + lease	Corp bylaws	Share loan; lease terminated	Less common
Timeshare	Right-to