Chapter 2 Real Property And The Law

Question 1

Land plus permanent human-made additions is called

Answer 1

Real estate

Question 2

Real estate plus bundle of legal rights is

Answer 2

Real property

Question 3

The right of possession, the right to control the property within the framework of the law, the right of enjoyment, the right of exclusion, and the right of disposition are all part of what?

Answer 3

Bundle of legal rights

Question 4

_______ to land can be any artificial thing attached on or below ground such as a building fence waterline or sewer pipe as well as growing things that are made part of the landscaping.

Answer 4

An improvement

Question 5

_______ is defined as the interests, benefits, and rights that automatically included in the ownership of real estate

Answer 5

Real property

Question 6

What are the two meanings of the word “title” as it relates to real property?

Answer 6

1) The right to or ownership of the property including the owners bundle of legal rights.
2) Evidence of ownership by a deed.

Question 7

Title refers to _______ of the property, not a printed document.

Answer 7

Ownership

Question 8

The document by which the owner transfers title to the property is called

Answer 8

The deed

Question 9

An _______ is a right or privilege associated with the property, although not necessarily a physical part of it.

Answer 9

Appurtenance (a part of)

Question 10

Ownership rights in a parcel of real estate that are limited to the surface of the earth are called

Answer 10

Surface rights

Question 11

The rights to the natural resources below the earth surfaces are called

Answer 11

Subsurface rights

Question 12

True or false. An owner may transfer subsurface rights without transferring surface rights and vice versa.

Answer 12

True

Question 13

The rights to use the space above the earth that may be sold or leased independently provided the rides have not been limited by law are

Answer 13

Air rights

Question 14

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

Answer 14

Water rights

Question 15

Common-law rights granted to owners of land along the course of a river stream or a similar flowing body of water are called

Answer 15

Riparian rights

Question 16

Common-law rights granted to owners whose land borders commercially navigable lakes, seas and oceans are called

Answer 16

Littoral rights

Question 17

True or false. Riparian rights generally include the unrestricted right to use the water as long as the owners use does not interrupt or alter the flow of the water or contaminated in any way.

Answer 17

True

Question 18

Finish this sentence . An owner of land that borders a non-navigable waterway owns the land

Answer 18

Under the water to the exact center of the waterway

Question 19

True or false. Navigable waters are considered public highways in which the public has an easement or right to travel.

Answer 19

True

Question 20

Finish this sentence. Land adjoining commercially navigable rivers is usually owned to

Answer 20

The waters edge

Question 21

What is avulsion?

Answer 21

The sudden removal of soil by an act of nature

Question 22

What is erosion?

Answer 22

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

Question 23

Sometimes called personalty, is all the property that can be owned and that does not fit the definition of real property is

Answer 23

Personal property

Question 24

Items of personal property are also known as

Answer 24

Chattels

Question 25

Trees perennial shrubbery and grasses that

Answer 25

Fructus naturales (which is considered real estate)

Question 26

Annually cultivated crops such as fruit vegetables in green are known as

Answer 26

Fructus industriales (which are considered personal property).

Question 27

An item of real property can become personal property by

Answer 27

Severance

Question 28

The act of separating personal property from the land is known as

Answer 28

Severance

Question 29

The process of changing personal property into real property is the process called

Answer 29

Annexation

Question 30

If a land owner buys cement, stones, and sand and mixes them into concrete to construct the sidewalk across his land, the land owner has converted his personal property into real estate by the process of

Answer 30

Annexation

Question 31

A _______ is personal property that has been so attached to land or a building that, by law, it becomes part of the real property. Example: heating systems, elevator equipment in high-rise buildings, radiators, kitchen cabinets, light fixtures and plumbing

Answer 31

Fixture

Question 32

The four economic characteristics of land that affect its value as a product in the marketplace are

Answer 32

1) Scarcity, 2) improvements, 3) permanence of investment and 4) area preference

Question 33

Area of preference is also known as

Answer 33

Situs

Question 34

The capital and labor used to build an improvement represents what?

Answer 34

Permanence of investment

Question 35

Something that is built on a parcel of land that can affect the land value and use as well as that of neighboring tracks and hold communities is called

Answer 35

An improvement

Question 36

The total supply of land is referred to as

Answer 36

Scarcity

Question 37

The three physical characteristics of land are

Answer 37

Immobility, indestructibility and uniqueness

Question 38

_______ is also known as nonhomogeneity.

Answer 38

Uniqueness

Question 39

What are the two characteristics of land?

Answer 39

Economic and physical

Question 40

A characteristic of land that includes scarcity, improvements, permanence of the investment and area preference

Answer 40

Economic characteristics

Question 41

The characteristics of land that include immobility, indestructibility and nonhomogeneity.

Answer 41

Physical characteristics

Question 42

According to law the trade fixture is usually treated as

Answer 42

Personalty

Question 43

Parking spaces in multiunit buildings, water rights, and similar things of value that convey with the property are classified as

Answer 43

Appurtenance

Question 44

Refers to earths surface to the center of the earth and the airspace above the land including the trees and water

Answer 44

Land