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Real Estate Principals > Property Ownership and Land-use Controls > Flashcards

Property Ownership and Land-use Controls Flashcards

1
Q

___________ are attached to and run with the land.

A

Appurtenances

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2
Q

The government controls water rights and grants permits for the beneficial use of water, such as irrigation , under ________________.

A

The doctrine of Prior appropriation.

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3
Q

real estate is transferred by a ___________.

A

Deed

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4
Q

Real Property is transferred by a ___________.

A

Bill of sale

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5
Q

Mineral rights may be transferred when a property is sold, and are often held by a ____________.

A

Third Party

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6
Q

Land is never a ____________.

A

fixture

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7
Q

a fixture is __________, while personal property is usually __________.

A

Built in , Free standing

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8
Q

MARIA

A 
Method
Adaptability
Relationship
Intent
Agreement
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9
Q

Fixtures must be ____________ from purchase agreement if the seller s not going to convey.

A

excluded

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10
Q

The _____________ regarding the items is the best indication of what fixtures or personal property items will be conveyed.

A

written Agreement

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11
Q

Emblements

A

are annually cultivated crops that belongs to a tenant farmer who planted them, unless otherwise agreed.

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12
Q

If trade fixtures or emblements are transferred, they will be by a _________________.

A

Bill of Sale

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13
Q

Personal property must be ______________, Fixtures must be _____________.

A

included in writing, excluded in writing.

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14
Q

Land is not a ______________, it cannot be used to purchase goods or turned into cash quickly.

A

Liquid asset

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15
Q

A survey is used to ________ or ___________ a legal description.

A

Create or confirm

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16
Q

Monuments (used in metes and bounds description)

A

monuments are visible markers that establish property boundaries.

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17
Q

“Starting at or commencing at” is used to begin a description of property using the ______________ system

A

Metes and Bounds

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18
Q

Metes

A

Measurement in feet, compass degrees

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19
Q

Bounds

A

Shape or boundaries

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20
Q

A Section is 1 mile by 1 mile square an contains ______ Acres.

A

640

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21
Q

An acre contains _____________ square feet.

A

43,560

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22
Q

Once a final map is approved, but before building a development, the plat map must be _______________.

A

recorded , usually in the county recorder office

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23
Q

Recorded “Plat” Map descriptions are most common in ________________ areas.

A

urban residential

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24
Q

Government Land use Controls: Master plans are used to control ____________.

A

Growth

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25
Q

There are separate building codes for ________, _______, _______ and so on.

A

plumbing , electrical, fire

26
Q

Zoning laws and ordinances are set at a ________ level.

A

local ( city or county)

27
Q

Buyers should be told to verify that the ___________ will meet their needs before closing.

A

zoning

28
Q

________________ use allows the owner to continue present use that no longer complies with the current zoning , which is known as a grandfather clause. The owner may not enlarge improvements or rebuild if improvements are destroyed

A

Non Conforming use

29
Q

a ___________ allows an individual owner to vary or deviate from the strict compliance with zoning in order to relieve or prevent economic hardship.

A

Variance .

note that a variance does not change zoning regulation, each property owner must apply for a variance to do something.

30
Q

Brokers and salespersons should explain that it is the _________ to verify that the current zoning rules will meet the buyers needs.

A

buyers responsibility

31
Q

you are doing a great job

A

keep up the good work

32
Q

All property other then real estate is known as ___________.

A

Personal Property or Chattel

33
Q

Real Estate consists of three things: _________, ___________, _____________.

A

Lands, improvements and Rights ( appurtenances)

34
Q

If a seller is taking a fixture, it must have been ___________ from the purchase agreement.

A

excluded

35
Q

Land is not considered a ________ asset.

A

Liquid asset

36
Q

When articles of personal property are permanently attached to the improvements they become ______________.

A

Fixtures

37
Q

Before a new building can be inhabited, a _________________ is required.

A

Certificate of occupancy

38
Q

Permission to vary from strict compliance with zoning requirements may be obtained in the form of a ___________.

A

Variance

39
Q

When a previously established use does not comply with the requirements of a new zoning ordinance , it may be allowed to continue as a _____________________.

A

non conforming use

40
Q

Townships, sections, and meridians are used in the ____________________ form of legal description.

A

rectangular survey

41
Q

A legal description that uses compass degrees is ____________.

A

metes and bounds

42
Q

The type of legal description used in most urban areas is ______________.

A

Lots, Blocks and Subdivisions

43
Q

A ____________________ may be used to separate two incompatible zoning uses.

A

Buffer zone

44
Q

Real estate and fixtures are transferred with a __________.

A

Deed

45
Q

Personal property is transferred with a ___________.

A

Bill of sale

46
Q

If a buyer is keeping the sellers personal property it must be __________ in the purchase agreement.

A

included

47
Q

Eminent domain is the governments right to “take” ____________ in a process is called ____________.

A

private land, condemnation

48
Q

Property taxes have priority over ________________.

A

all other lens

49
Q

Special Assessments are

A

Special Assessments are charges against specific properties that benefit from a public improvement.

50
Q 
The governments rights in land can be remembered by the memory aid 
P
E
T
E
A

Police Power
Eminent domain
Taxation
Escheat

51
Q

a freehold estate grants _________ for an indefinite period of time while a leasehold estate (less then freehold) grants __________ for a fixed term.

A

ownership, possession

52
Q

________________ grants the maximum control of property and lasts forever.

A

Fee Simple Absolute

53
Q

Fee Simple Defeasible or ________________ is created by a deed condition and is normally a gift. If the deed condition is violated , Title may revert back to the grantor.

A

qualified fee

54
Q

Life estate my be measured by the life of the grantee or by another life. Upon death of the life tenant, the estate returns to ____________________ and goes to the party named in the deed, either the grantor or the third party.

A

Fee Simple Absolute

55
Q 
Life Tenancy :
Upon death of the life tenant, the estate returns to Fee Simple Absolute and goes to the party named in the deed, either the 
grantor -- \_\_\_\_\_\_\_\_
 or 
the third party -- \_\_\_\_\_\_\_\_\_\_\_\_\_.
A

grantor ( reverter )
or
a third party ( remainderman )

56
Q

in an estate ( tenancy ) for years there is a specific termination date and _______________ is required at the end of the lease.

A

no advance notice

Death of a landlord does not terminate the estate for years

57
Q

An _________ is the right to use the lands of another for a specific purpose. It attaches to and runs with the land – and transfers with the deed (its appurtant)

A

Easement

58
Q

An easement created by an express written agreement is not _________ once given.

A

revocable

59
Q

unless an easement is released, _____________ with the deed.

A

it will transfer

60
Q

deed restrictions are privatly created controls on land use that protect _____________ and ____________ of property owners.

A

property values
and
the interest

61
Q

Deed restrictions must be for _______________ purposes. (cannot restrict property owners based on race or other protected groups)

A

Lawful

Real Estate Principals (5 decks)

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