Nature, Description And Rights In Land Flashcards
The SW 1/4 of the SW 1/4 of section 6 and the NW 1/4 of the NW 1/4 of section 7 contains how many acres?
80
640 acres in a section.
How many acres in a section?
640
A meters and bounds must have what?
Starting point
Ending point
Measurements
Characteristics or Real Estate
Scarcity Situs Improvements Immobility Indestructibility Uniqueness
What term is a test that determines whether an item is personal property or a fixture
Annexation
With HOMESTEAD; how much money is exempt from taxation?
25k - 50k
What kind of property is exempt from property taxes ?
Church
The creditor of which type of delinquent debt cannot force dale of residence under homestead?
Judgement lien or credit card debt
What is the governments right to enact and enforce land use restrictions
Police power
Special assessments are charged to
The benefiting property owners
Final process by which the government takes the title to property when an owner dies without heirs
Escheat
Home designed and built for owner on their lot is a ?
Custom home
Board enacted restrictions specifying acceptable uses and density
Zoning ordinances
What type of tenancy has a specific ending date?
For years
Type of lease that has no expiration date?
Tenancy at will
A township has how many square miles
36
How many feet in an acre?
43560
Definition of real estate
Buildings
Substance below the surface
Airspace above the land
A freestanding refrigerator is an example of ?
Personal property
Simplest way to divide large parcel land into smaller lots
Recorded plat/lot and block
Another term for recorded plat
Lot and block
A document used to record a subdivision of land
Plat
What can be done with mineral rights?
Can be reserved by seller if buyer agrees
A property description using monuments, distances, and compass directions
Metes and bounds
Article that was once personal property but is now permanently attached to the building
Fixture
The government survey system starting point if where?
Tallahassee meridian and baseline
Economic characteristic that refers to a group being attracted to a certain location due to economic conditions
Situs
How are sections numbered ?
1-6 snaked down 7-12 and so on
Opposite of N 27 E using metes and bounds
S 27 W
Tallahassee principal meridian runs which direction?
North/South
Tallahassee baseline runs what direction
East/West
When Numbering sections #1 begins where?
Too right
What type of classification is NOT established by municipal zoning
Architectural
No conforming means?
Property not complying with zoning requirements
Value of property established for property tax purposes
Assessed value
Useful asset life for residential property
27.5
Useful asset life for NON residential property
39 years
When property taxes are delinquent the government collects money by auctioning
Property tax certificate
If zoning causes hardship to property owner, what can be issued ?
A variance
A major employer in the area can be known as what type of industry?
Base industry
Taking with just compensation or taking private land for public use
Eminent domain
If the project will impact the environment, what must be submitted
Environmental impact statement
A comprehensive plan can also include
Zoning ordinances
T/F members of a local planning commission are mostly residential planning professionals
False
What happens to a lease when the property undergoes eminent domain
Terminated
IRS and federal tax deductions can apply to two things
Property tax
Mortgage interest
T/F. Reserves for replacement are NOT deductible tax for commercial residence
True
Distance between boundaries and improvers
Setback
Eminent domain is also called
Condemnation
