Chapter 5 - What is Real Estate?

Question 1

The right to use the open space above a property, generally allowing for the surface to be used for another purpose are ___.

Answer 1

Air rights

Question 2

Solid material (sediment) gradually deposited, by a contiguous body of water (used with accretion which is the opposite of erosion is known as ___.

Answer 2

Alluvion

Question 3

The sudden changing of a course of a stream, is an act of ___.

Answer 3

Avulsion

Question 4

A written instrument given to transfer title of personal property is is a ___.

Answer 4

Bill of sale

Question 5

Real property ownership often described as the _ _ _. Name the (5)

Answer 5

Bundle of rights, they are the right to

Use,

Possession,

Enjoy

Exclusion

Dispose (alienation, to give away)

Question 6

Movable personal property.

Answer 6

Chattels

Question 7

These terms for Real Estate are used interchangeably with real property, and realty, and real estate. These tangible things like buildings and trees are called ___.

Answer 7

Corpreal

Question 8

A written instrument that, when executed and delivered, conveys title to or an interest in real estate is called a ___.

Answer 8

Deed

Question 9

A gift of real property by will; the act of leaving the real property by Will is also known as to ___.

Answer 9

Devise

Question 10

Growing crops, such as wheat and corn, are produced annually through labor and industry. Also called Fructus industrials are considered to be the personal property of a tenant. These are known as ____.

Answer 10

Emblements

Question 11

The gradual wearing away of land by water, wind, and general weather conditions; the diminishing of property caused by the elements is known as ___.

Answer 11

Erosion

Question 12

An item of personal property that has been converted to real property is now considered a ___.

Answer 12

Fixture

Question 13

Anything that can be inherited is known as a ___.

Answer 13

Herediment

Question 14

Includes both buildings erected on the land and streets, utilities, seers, and other manufactured additions to the property. The concept that real estate includes land and all manmade ___.

Answer 14

Improvement/s

Question 15

___ refers to the surface of the earth, including the water, and anything attached to it by nature, such as trees and bushes. It also includes the minerals and substances below the Earth’s surface, together with the airspace above the earth’s surface, up to infinity. thus the land may be defined as the earth, extending downward from the surface to the center of the earth, an upward to infinity, including anything permanently attached by nature.

Answer 15

Land

Question 16

A landowner’s claim to use water in large navigable lakes and oceans adjacent to his or her property. The ownership rights to land bordering these bodies of water up to the mean high-water mark are ___ ___.

Answer 16

Littoral rights

Question 17

Subsurface rights that can be sold or retained separately are ___ ___.

Answer 17

Mineral rights

Question 18

A specific piece of real estate is also known as a ___.

Answer 18

Parcel

Question 19

All property that is not real property is ___.

Answer 19

Personal property or personalty

Question 20

The creation of dry land by the gradual withdrawal of water from the land by lowering its surface level is ___.

Answer 20

Reliction

Question 21

An owner’s rights in land that borders on or includes a river, stream, or in new Jersey and tidal waters. these rights include access to and use of the water are ___ ___.

Answer 21

Riparian rights

Question 22

Articles installed by a tenant under the terms of a lease and removable by the tenant before the lease expires, also known as a ___ ___.

Answer 22

Trade fixture

Question 23

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

Answer 23

Accretion

Question 24

What are the legal tests of a fixture?

Answer 24

Method of attachment: Is the item permanently affixed to the wall

Adaptability: If the item becomes an integral part of the home, it cannot be removed. Flooring is an example

Relationship of the parties: If the dispute is between tenant and landlord, the tenant is likely to win. If the dispute is between the buyer and seller, the buyer is likely to prevail.

The intention of the party: When the item was installed, if you intended it to be permanent, it is a fixture. If you installed a built-in bookcase or planted rose bushes, they were intended to be permanent.

Agreement between the parties: