A1

Question 1

The concept of Ad Valorem

Answer 1

(In property taxes) According to Value

Question 2

Allodial System

Answer 2

Ownership free of superior overlord

Question 3

Appurtenant

Answer 3

Runs with the land

Question 4

The Right of Emblements

Answer 4

gives tenants - farmers - the right to harvest money crops “industrial fruits” that mature after their departure

Question 5

Encumbrance

Answer 5

Allows owners to borrow money against their property

Question 6

Exclusion

Answer 6

permits owner to bar others from their property

Question 7

Right of Transfer

Answer 7

Enables owners to pass title to another party

Question 8

What are your Bundle of Rights

Answer 8

1) Transfer 2) Exclusion 3) Ecumbrances 4) Use 5) Possession

Question 9

Corporeal

Answer 9

Term used to describe real property - physical or tangible

Question 10

What is the legal test to determine what is or is not a fixture

Answer 10

1) Method of Attachment 2) Agreement 3) Relationship 4) Intent 5) Adaptability

Question 11

What are the physical characteristics of real property

Answer 11

1) Immobility 2) indestructibility 3) non-homogeneity 4) Law of Sitis ( it is governed by the laws where is it located)

Question 12

What are the economic characteristics of real property?

Answer 12

1) Scarcity 2) Modification 3) Fixity 4) Situs

Question 13

Incorporeal

Answer 13

Attachments to real property such as hereditaments (rights of inheritance), easements - the rights- of- way and the like

Question 14

Governments 4 basic rights over property

Answer 14

1) Police Power 2) Eminent Domain 3) Taxation 4) Escheat

Question 15

Who collects taxes in the county?

Answer 15

County Treasurer

Question 16

What are Special Assessments?

Answer 16

Taxes for local improvements such as streets and sewers. They are not ad valorem but based on the benefits accruing the property owner.

This is often done on a pro rata basis, in which the property owner is charged for each foot of land abutting a street under improvement.

Question 17

Urban Property (is?)

Answer 17

City Property (is?)