1. Rights & Terms Of Realty Flashcards

0
Q

LITTORAL RIGHTS

A

Applies to lake or ocean rights

Own to high water mark

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1
Q

RIPARIAN RIGHTS

A

Applies to river or stream rights

Own to the middle of river if you can’t navigate rive

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2
Q

PRIOR APPROPRIATION

A

Government to administer the right of water within the state

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3
Q

ESTOVERS

A

Right of the tenant to use wood of owner in a lease situation for needs only

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4
Q

EMBLEMENTS

A

Regarded as personal property

The fruit of the crop

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5
Q

WASTE

A

LESSOR or LIFE ESTATE holder fails to keep realty in the same condition they received

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6
Q

SEVERANCE

A

Turning realty into Personal Property

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7
Q

ALLODIAL LAND SYSTEM

A

The basis of real property law whereby individuals can hold clear title to real property and have full ownership rights - however, you must use it or lose it

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8
Q

ADVERSE POSSESSION

A

Acquisition of property by continuous, actual, open, and notorious use of the land of another without their permission for a specific period of time

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9
Q

TACKING

A

Combining successive periods of continuous use or occupation of real property to establish adverse possession or prescriptive easement

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10
Q

LICENSE

A

Privilege to be on someone’s property
Can be cancelled by LICENSOR (owner) at anytime
Privilege attaches to the person, not the realty

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11
Q

ENCROACHMENT

A

Illegal physical extension on another’s property, such as a wall or fence

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12
Q

ENCUMBRANCES

A

Anything that affects value of realty including a lien

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13
Q

FIXTURE

A

An object that was once personal property and has been attached to realty in a permanent way

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14
Q

TRADE FIXTURE

A

A business related article installed by a tenant under terms of a lease and removable by tenant before lease expires, failure to do so, gives LESSOR ownership, called accessio

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15
Q

TANGIBLE/CORPOREAL

A

Visible value of realty, so etching you can touch e.g. a house

16
Q

INTANGIBLE/INCORPOREAL

A

Invisible value of realty, more of a right, something you can’t touch e.g. water or sun rights

17
Q

DATUM

A

A horizontal plane from which heights above or below sea level are measured with the original datum in New York City harbor

18
Q

BENCHMARK

A

Permanent metal plates through tofu cities in U.S. To derive elevation heights

19
Q

INCHOATE

A

A dormant spouse’s right in realty while both are alive in a non-community property state

20
Q

ALLUVIUM

A

Addition of soil and rock

21
Q

RELECTION

A

An addition of land by receding water