6 S.R. Flashcards
______ is a reversionary right; if an owner dies without heirs, the property reverts back to the government.
Escheat
____ are also known as real estate taxes, or ad valorem taxes.
Property taxes
______ power allows governmental bodies to have the right to enact and enforce regulations for the order, safety, health, morals, and general welfare of the public.
Police
_______ is the right of the government or a public utility to acquire property that is necessary for public use.
Eminent domain
Eminent domain requires condemnation proceedings and _____.
Compensation
If a property owner dies intestate it means he or she died without a ______.
Will
Residential homestead, agriculture, and commercial are examples of property ________.
Classifications
A ______ tax is a property tax that is levied on homeowners and landowners to cover the costs of improvements that will be for the benefit of all upon whom it is imposed.
Special assessment
A _____ assessment is an estimate or contractor’s bid for work that has been approved for an improvement, but has not yet been completed.
Pending
A _______ assessment has been billed, work is completed, but it has not yet been paid.
Levied
______ is defined as the land and natural resources on or under it, and anything permanently fixed to it.
Real estate or real property
The types of real property rights are land surface rights (or sub surface rights), and ________.
Sky or air rights
Anything attached to the land that is intended to be permanent is considered a/an_______, and part of the real estate.
Improvement
______ are the rights to use, control, or occupy the space above a designated property.
Air rights
_______ rights do not mean the landowner owns the water.
Water