Ch. 2 Flashcards

1
Q

Air Rights

A

The right to use the open space above the surface of a property.

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2
Q

Trade Fixtures

A

An article installed by a tenant under a commercial lease, removable before the lease expires.

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3
Q

Personal Property

A

Any property that is not real property.

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4
Q

Annexation

A

Conversion of personal property to real property.

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5
Q

Bundle of Legal Rights

A

Ownership of all legal rights to the land: control, possession, exclusion, enjoyment and disposition.

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6
Q

Real Property

A

The interests, benefits and rights of owning real estate.

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7
Q

Real Estate

A

Land, plus all human-made improvements to the land that are permanently attached to it.

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8
Q

Subsurface Rights

A

Ownership rights in the water, minerals, gas and oil that lie BENEATH a parcel of land.

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9
Q

Fixtures

A

Personal property that is converted to real property by being permanently attached to the realty.

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10
Q

Improvements

A

Any artificial thing attached on or below ground, such as a building, fence, pipes, and landscapes.

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11
Q

Severence

A

Separating anything from the land transferring it from real property to personal property.

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12
Q

Surface Rights

A

Ownership rights excluding air or mineral rights.

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13
Q

Water Rights

A

Common-law (historical) or statutory rights held by owners of land adjacent to rivers, lakes, or oceans and are restrictions on the rights of land ownership.

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14
Q

Chattels

A

Another name for personal property.

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15
Q

Emblements

A

Growing crops such as corn or soybeans that remain personal property.

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16
Q

Accession

A

Acquiring title to additions or improvements to real property as a result of the annexation of fixtures or the accretion of alluvial deposits along the banks of streams.

17
Q

Accretion

A

The increase or addition of land by the deposit of sand or soil washed up naturally from a river, lake, or sea.

18
Q

Appurtenance

A

A right, privilege, or improvement belonging to, and passing with, the land; “runs with the land.”

19
Q

Area Preference

A

People’s desire for one area over another, based on a number of factors such as history, reputation, convenience, scenic beauty , and location.

20
Q

Avulsion

A

The sudden tearing away of land, as by earthquake, flood, volcanic action, or the sudden change in the course of a stream.

21
Q

Erosion

A

The gradual and sometimes imperceptible wearing away of the land by natural forces, such as wind, rain, and flowing water.

22
Q

Land

A

The earth’s surface, extending downward to the center of the earth and upward infinitely into space, including things permanently attached by nature, such as trees.

23
Q

Littoral Rights

A

1) A landowner’s claim to use water in large navigable lakes and oceans adjacent to her property. 2) The ownership rights to land bordering these bodies of water up to the high-water mark.

24
Q

Manufactured Housing

A

Dwellings that are built off site and trucked to a building lot where they are installed or assembled.

25
Q

Nonhomogeneity

A

A lack of uniformity; dissimilarity. Because no two parcels of land are exactly alike, real estate is said to be nonhomogeneous.

26
Q

Prior Appropriation

A

A concept of water ownership in which the landowner’s right to use available water is based on a government-administered permit system.

27
Q

Riparian Rights

A

An owner’s rights in land that borders on or includes a stream, river or lake. These rights include access to and use of the water.

28
Q

Situs

A

The location of land for legal purposes; the jurisdiction in which land is located.