Chapter 5: What is Real Estate? Flashcards
the increase or addition of land by the deposit of sand or soil washed up naturally from a river, lake or sea
accretion
the right to use the open space above a property, generally allowing the surface to be used for another purpose
air rights
solid material deposited by a body of water
alluvion
the sudden changing of course of a stream
avulsion
a written instrument given to transfer title of personal property
bill of sale
possession, control, enjoyment, and so on…
bundle of rights
moveable personal property
chattels
tangible
corporeal
a written instrument that, when executed and delivered, conveys title to or an interest in real estate
deed
a gift of real property by will; the act of leaving real property by will
devise
growing crops, such as wheat and corn, that are produced annually through labor and industry; also called fructus industriales. They are considered to be the personal property of a tenant
emblements
the gradual wearing away of land by water, wind and general weather conditions; the diminishing of property caused by the elements
erosion
an item of personal property that has been converted to real property
fixture
a standard measurement, one foot wide, of the width of land, applied at the frontage on its street line. Each front foot extends the depth of the lot
front foot
anything that can be inherited
hereditament
any structure erected on a site to enhance the value of the property - building, fences, driveways, curbs, sidewalks, or sewers
improvement
intangible
incorporeal
the earth’s surface, extending downward to the center of the earth and upward infinitely into space
land
- a landowner’s claim to use water in large navigable lakes and oceans adjacent to his or her property. 2. the ownership rights to land bordering these bodies of water up to the mean high-water mark
littoral rights
subsurface rights, which can be sold or retained separately
mineral rights
a specific piece of real estate
parcel
all property that is not real property
personal property (personalty)
a portion of the earth’s surface extending downward into he center of the earth and upward infinitely into space including all things permanently attached thereto, whether by nature or by a person
real estate
real estate plus all the interests, benefits and rights inherent in ownership. often referred to as real estate
real property (realty)
creation of dry land by the gradual withdrawal of water
reliction
on owners rights in land that borders on or includes a stream, river, or in NJ, any tidal waters. These rights include acess to and use of water
riparian rights
ownership rights in a parcel of real estate of any water, minerals, gas, oil and so forth that lies beneath the surface of the property
subsurface rights
articles installed by a tenant under the terms of a lease and removable by the tenant before the lease expires
trade fixtures
