2021 National Flashcards
land
the earth’s surface extending downward to the center of the earth and upward to infinity, including permanent natural objects, such as trees and water
real property
the interests, benefits, and rights that are considered part of the ownership of land and real estate.
Economic characteristics of land (4)
scarcity, improvements, permanence of investment, and area preference.
Physical characteristics of land (3)
immobility, indestructibility, and uniqueness
how many square feet in an acre
43560
mile measurements
5280 feet
1760 yards
320 rods
furlong measurements
220 yards
660 feet
40 rods
10 chains
chain measurements
66 feet
4 rods
100 links
rod measurements
- 5 feet
5. 5 yards
square mile measurements
640 acres
cubic yard measurements
27 cubic feet
square yard measurements
9 square feet
square foot measurements
144 square inches
real estate
the land and anything attached to it
bundle of legal rights (5)
possession, control, enjoyment, exclusion, disposition
title
the right to ownership of real property and the evidence of ownership provided by the deed
appurtenance
right or privilege association with the real property (ie parking space, easement, water rights). Normally conveyed to new owner when property is sold
riparian rights
belong to owners of land along a flowing body of water
littoral rights
belong to owners of land that borders a commercially navigable lake, sea, or ocean
The doctrine of prior appropriation
in some states, the water is controlled by the state and the landowner must demonstrate a beneficial use of the water such as irrigation of crops
chattel
personal property
emblements
annual plantings
severance (related to property)
real property can become personal property by severance
annexation
personal property can become real property (such as construction materials)
accession
landlord acquires trade fixtures when left behind by a tenant
fixture
personal property that becomes real property
MARIA
method of annexation
adaptability of the item for the land’s ordinary use
relationship of the parties
intent in placing the item on the land
agreement of the parties
freehold estate
lasts for an indeterminable length of time
fee simple estate
highest estate recognized by law
life estate
not inheritable