Part 2 Flashcards
Land is ___________ and __________
Immobile and Unique
2-21
In law, is the solid surface on the earth, as distinguished from water
Land
2-21
Riparian rights deal with what types of water?
Flowing waters, river, stream
2-23
_____________ rights pertain to properties abutting an ocean, lake or pond (non-flowing water)
Littoral
2-23
4 broad sources of value
G
E
S
E
Governmental and legal
Economic
Social
Environmental and geographic
2-25
_____________ is something added or appended to a property that then becomes an inherent part of the property; usually passes with the property when title is transferred
Appurtenance
2-26
Any tangible or intangible article that is subject to ownership and not classified as real property
Personal property
2-27
Chattel is another term for what kind of property?
Personal
2-27
Annual crops and plantings such as corn, wheat, and vegetables are known as __________ and are _____________ property
Emblements
Personal
2-28
A ____________ is an appurtenance that is treated as real estate when permanently attached to a property.
Fixture
_____________ is a primary factor in determining whether an item is a fixture
Intent
2-28
____________ fixtures are articles placed in or attached to rented buildings by a tenant to help carry out the trade or business of the tenant
Trade
What type of property are Trade Fixtures 100% of the time?
Personal property
2-28
The interests, benefits and rights inherent in the ownership of real estate is…
Real Property
2-29
A property’s ________ of __________ is what gives the property value
Bundle of rights
2-29