6.2 Flashcards
True or False:
If someone owns land along a river, he can sell the land to the middle of the river.
False
A neon sign for business attached to a leased space is an example of a _______.
Trade fixture
True or False:
A permanent fence around a property is considered personal property.
False
Something attached to real estate with the intent of remaining permanent is considered _______.
Real property or real estate
The rights a landowner has with a flowing stream of water are called ______ rights.
Riparian
Land plus all natural resources and anything permanently attached to it is the definition of ________.
Real estate or real property
A ______ owner is the legal definition of an owner or possessor of land that abuts a watercourse, such as a natural stream, river, or creek.
Riparian
A _____ owner is the legal definition of an owner of land that abuts a fixed body of water, such as a sea, lake or pond.
Littoral
______ rights provide the privilege of gaining income from the sale of oil.
Mineral
“Chattel” is also known as _______.
Personal property
Structural safety, health requirements, and fire safety are considered in a state or local government’s building ______.
Codes
True or False:
A light fixture is considered personal property.
False
True or False:
Ownership rights include below to the center of the earth and above into the sky.
True
Something built upon the land with the intention of being permanent is called a/an ________.
Improvement
True or False:
Water rights mean the landowner owns the water.
False
______ are the rights to use, control, or occupy the space above a designated property.
Air rights
Riparian owners may be entitled to the “reasonable use” of a ______.
Watercourse
______ are marked by a sudden and violent change to the bed or course of a stream or river causing a measurable loss or addition to land.
Avulsions
_______ are marked by the gradual addition of soil on one side of a watercourse, which adds to the owner’s land.
Accretions
The shore zone of a fixed body of water such as a sea, lake or pond, is ______ land.
Littoral
______ provide the privilege of gaining income from the sale of oil, gas, minerals, and other valuable resources found on or below land.
Mineral rights
_____ are property placed on, or annexed to, rented real estate by a tenant for the purpose of conducting a trade or business.
Trade fixtures
______ are crops or products of the land that legally belong to a tenant.
Emblements
A _____ is a set of rules that specify the minimum acceptable level of safety for constructed objects such as buildings and non-building structures.
Building code
It should be a red flag to a real estate consumer if an agent asks the ____ to make the check payable to the agent.
Buyer or seller
Agents are required to disclose _____ facts to prospective buyers.
Material
_________ are facts that may adversely and significantly affect a buyer’s use or enjoyment of the property.
Material facts
