Brainscape's Knowledge GenomeTM


Top Flashcards (Certified)
All Flashcards

Real Estate Course > Chapter 2 > Flashcards

Chapter 2 Flashcards

1
Q

What does real property specifically refer to?

A

Land and anything permanently attached to it

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
2
Q

Define a parcel or tract of land

A

Land that is delineated by boundaries, natural or manmade

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
3
Q

A grocer temporarily installs special fruit and vegetable coolers in a leased grocery store in order to prevent spoilage. The coolers would be considered (blank) that are (blank) property.

A

Trade fixtures that are personal property

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
4
Q

Which of the following is an example of intangible property?

A

Stock

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
5
Q

The right to use real property is limited by

A

the right of others to use and enjoy their property

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
6
Q

What term denotes the entitlements of a property that borders a flowing body of water?

A

Riparian rights

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
7
Q

What type of asset is generally categorized as real property?

A

Acreage and structures

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
8
Q

How do the legal concepts of real estate and real property differ from each other?

A

Real estate encompasses land and any permanent attachments, whereas real property also includes the legal rights associated with ownership

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
9
Q

Under the doctrine of littoral rights, an owner claims ownership of all of the land underlying a lake where there are three other abutting property owners. Which of the following is true?

A

The owner’s claim is invalid, because the state owns the underlying land

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
10
Q

What portion of a non-navigable water body is usually owned by the owner of a property adjacent to it?

A

The land adjoining the water up to its edge

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
11
Q

What distinguishes the legal definitions of land and real estate?

A

Land is the natural surface of the earth, whereas real estate encompasses land and all man-made structures erected on it.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
12
Q

In the United States, which legal principle ensures the right of private ownership of real estate?

A

Doctrine of private property rights

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
13
Q

In water law, what does the Doctrine of Prior Appropriation primarily govern?

A

Grants rights over surface water and groundwater

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
14
Q

The major sources of real estate law are legislation at federal, state and local level, and

A

court decisions

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
15
Q

The overriding test of whether an item is a fixture or personal property is

A

its definition as one or the other in a sale or lease contract

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
16
Q

Which processes can convert an item from real to personal property and vice versa?

A

Severance and annexation

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
17
Q

Severance

A

the act of detaching an item from real property, thereby converting it into personal property.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
18
Q

Annexation

A

attaching a personal property item to real property, transforming it into real property.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
19
Q

Subsurface rights

A

the ownership or control of resources located beneath the surface of the land, including mineral rights, water rights, and rights to underground structures

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
20
Q

What aspect of real estate law does the federal government primarily focus on?

A

Protection against discrimination in housing

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
21
Q

Fair Housing Act

A

prohibit discrimination based on race, color, religion, sex, national origin, familial status, and disability in housing and housing-related activities.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
22
Q

best definition of real estate

A

Land and everything permanently attached to it

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
23
Q

three unique physical characteristics of land

A

Immobility, indestructibility, uniqueness

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
24
Q

describe the 3 physical characteristics of land

A

Immobility refers to the fact that land cannot be moved from one location to another. Indestructibility means that land cannot be destroyed, although its improvements may deteriorate. Uniqueness signifies that no two parcels of land are exactly alike, even if they share similar characteristics such as location or size.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
25
What is an emblement?
A plant or crop that is considered personal property
26
What term is used to describe items installed by a tenant in a leased property to aid in conducting their business activities, which can be removed upon lease termination?
Trade fixtures
27
What does the term "Doctrine of Prior Appropriation" refer to in water law?
A system of water rights allocation based on "first in time, first in right" principle
28
"first in time, first in right" principle
a principle in water law that grants water rights to the first users of a water source. priority is given to those who have historically used the water for beneficial purposes, such as irrigation, mining, or municipal supply. This system ensures that water is allocated efficiently and fairly, particularly in regions with limited water resources or where water rights are highly contested.
29
What type of property is a patent an example of?
Intangible property
30
According to the doctrine of littoral rights, when an owner claims ownership of all the land underlying a lake, what is typically true in relation to other abutting property owners?
Other abutting property owners have the right to use the lake up to the high-water mark.
31
doctrine of littoral rights
under the doctrine of littoral rights, owners of land adjacent to a lake or large body of water have the right to use the water for recreational purposes such as boating, fishing, and swimming up to the high-water mark
32
The primary distinction between the legal concepts of land and real estate is that
land does not include man-made structures
33
What significant factor contributes to the development of real estate law alongside legislation?
Legal precedents established through judicial decisions
34
What part of a non-navigable waterway does the owner of an abutting property own?
To the middle of the waterway.
35
What is the main difference between the legal concepts of real estate and real property?
Real estate encompasses land and natural resources
36
Example of affixing
Nailing a sign to a fence or bolting equipment to the floor of a building would be examples of affixing.
37
air rights
legal rights a property owner has to the airspace above their land. This can include the right to build structures that extend into the airspace or the right to prevent others from obstructing the airspace.
38
bundle of rights
set of legal rights associated with owning real property. These rights include the right to possess, use, transfer, exclude others, and enjoy the property.
39
conversion
the act of changing real property into personal property or vice versa. It can also refer to unlawfully depriving someone of their property rights.
40
fixture
tem of personal property that has become permanently attached to real property in a way that it is considered part of the real estate.
41
improvement
any man- made addition or alteration to land that enhances its value or utility. This can include buildings, fences, roads, or landscaping.
42
assets that cannot be touched or felt but still hold value
intangible
43
the earth's surface, including everything permanently attached to it, such as soil, rocks, minerals, and natural resources
land
44
littoral rights
the legal rights of property owners whose land borders a lake, ocean, or other navigable body of water. These rights typically include access to and use of the water body.
45
movable items that are not permanently attached to land or buildings.
personal property
46
real property
encompasses both land and improvements permanently attached to it. It also includes the bundle of rights associated with owning the land.
47
riparian rights
legal rights of property owners whose land borders a river, stream, or other flowing body of water. These rights typically include access to and use of the water for domestic, agricultural, or recreational purposes.
48
surface rights
refer to the legal rights a property owner has to the surface of the land, including the right to build structures, plant crops, or excavate.
49
physical items that can be touched or felt, such as land, buildings, or personal possessions.
tangible
50
water rights
legal rights a property owner has to access and use water located on or beneath their land, such as rivers, lakes, or groundwater.
51
air rights
Legal rights a property owner has to the airspace above their land
52
bundle of rights
A set of legal rights associated with owning real property. These rights include the right to possess, use, transfer, exclude others, and enjoy the property.
53
fixture
An item of personal property that has become permanently attached to real property in a way that it is considered part of the real estate.
54
land
The earth's surface, including everything permanently attached to it, such as soil, rocks, minerals, and natural resources. It's the physical space upon which real estate is built.
55
littoral rights
The legal rights of property owners whose land borders a lake, ocean, or other navigable body of water.
56
personal property
Also known as chattel, refers to movable items that are not permanently attached to land or buildings. These items can include furniture, vehicles, and clothing.
57
real estate
Land and any improvements made to it, including buildings, structures, and natural resources like water bodies. It also includes the rights associated with owning or using land.
58
real property
A broader term that encompasses both land and improvements permanently attached to it. It also includes the bundle of rights associated with owning the land
59
riparian rights
The legal rights of property owners whose land borders a river, stream, or other flowing body of water. These rights typically include access to and use of the water for domestic, agricultural, or recreational purposes.
60
61
surface rights
The legal rights a property owner has to the surface of the land, including the right to build structures, plant crops, or excavate.

Real Estate Course (31 decks)

Brainscape helps you reach your goals faster, through stronger study habits.
© 2025 Bold Learning Solutions. Terms and Conditions