Fee Simple

Question 1

4
Surface Rights

Answer 1

CONSIST OF THE LEGAL RIGHT TO CONTROL, OCCUPY, AND USE THE SURFACE AREA OF A PARCEL OF REAL ESTATE (THE LAND), INCLUDING THE BUILDING OF IMPROVEMENTS (REAL PROPERTY) AND THE GROWING OF CROPS.

Question 2

AIR RIGHTS

Answer 2

ARE THE LEGAL RIGHT TO CONTROL,OCCUPY, AND USE AIRSPACE ABOVE A PARCEL OF REAL ESTATE.

Question 3

SUBSURFACE RIGHTS

Answer 3

REFER TO THE RIGHT TO EXPLORE, DRILL, OR DIG BELOW THE SURFACE FOR MINERALS AND WATER.

Question 4

IMPROVEMENTS

Answer 4

ARE ADDITIONS MADE TO PROPERTY THAT ARE INTENDED TO ENHANCE IT VALUE.

Question 5

FIXTURES

Answer 5

ARE ARTICLES THAT WERE ONCE PERSONAL PROPERTY BUT HAVE BEEN AFFIXED TO REAL ESTATE SO AS TO BECOME REAL PROPERTY.

Question 6

FOUR TESTS TO DETERMINE A FIXTURE

Answer 6

METHOD OF ATTACHMENT, CONSTRUCTIVE ANNEXATION(ADAPTABILITY), AGREEEMENT, RELATIONSHIP OF THE PARTIES

Question 7

FRUCTUS NATURALES

Answer 7

ARE PERMANANENT PLANTINGS SUCH AS FLOWERS, TREES, AND BUSHES THAT ARE CLASSIFIED AS REAL PROPERTY.

Question 8

WATER OCCURRING NATURALLY

Answer 8

WATER IN PONDS, LAKES, STREAMS, OCEANS, AND SEAS, IS CLASSIFIED AS REAL PROPERTY.

Question 9

NAVIGABLE WATERS

Answer 9

TO A BODY OF WATER THAT IS USED FOR COMMERCE OR TRANSPORTATION

Question 10

LITTORAL LAND

Answer 10

IS PROPERTY THAT BORDERS ON THE SHORE OF A LAKE, SEA OR OCEAN WHICH IS AFFECTED BY TIDAL CURRENTS.

Question 11

RIPARIAN LAND

Answer 11

IS LAND BORDERING A MOVING WATERCOURSE SUCH AS A STREAM OR RIVER

Question 12

PRIOR APPROPRIATION

Answer 12

IS A DOCTRINE OF WATER ALLOCATION THAT IS VERY DIFFERENT FROM THE PRINCIPLES ESTABLISHING RIPARIAN RIGHTS

Question 13

APPURTENANCES

Answer 13

ALL OF THE RIGHTS, PRIVILEGES, AND IMPROVEMENTS THAT BELONG TO , AND PASS WITH THE TRF OF PROPERTY BUT ARE NOT NECESSARILY A PHYSICAL PART OF THE ACTUAL PROPERTY

Question 14

Physical Characteristics of Land

Answer 14

Immobility
Indestructibility
Non-homogeneity (Heterogeneity)

Question 15

Immobility

Answer 15

Land is Physically Immobile

Question 16

Indestructibility

Answer 16

Land cannot be destroyed

Question 17

Non-Homogeneity (Heterogeneity)

Answer 17

Land and improvements are not standardized or homogeneous.

Question 18

Economic Characteristics of Land

Answer 18

Scarcity
Area preference or Situs
Permanency of improvements
Productions
Assemblage

Question 19

Scarcity

Answer 19

limited supply of land

Question 20

Area Preference or Situs

Answer 20

economic term that refers to the economic term that refers to the economic quality of a parcel of real estate.

Question 21

Permanence of Improvements

Answer 21

combined with immobility of the underlying land, makes the real estate market less flexible that other markets.

Question 22

Production

Answer 22

the development of land and the construction of improvements

Question 23

Assemblage

Answer 23

concept of combining two or more contiguous parcels of real estate into a single parcel under one ownership.

Question 24

Chattel

Answer 24

differentiate ownership of land from ownership of livestock

Question 25

Trade Fixtures

Answer 25

articles of personal property that are necessary parts of a tenants trade or business.

Question 26

Fructus Industriales

Answer 26

Emblements, are growing crops that are produced annually through labor and industry.

Question 27

Severance

Answer 27

is the act of removing something attached to land

Question 28

Residential Property

Answer 28

composed of single family homes, but can include smaller multi-family units.

Question 29

Commercial - Investment Property

Answer 29

real estate that includes income producing property such as large apartment buildings, office buildings, restaurants, shopping centers, etc.