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Real Estate Prep > The Concept of Property > Flashcards

The Concept of Property Flashcards

1
Q

Abatement

A

a legal action to remove a nuisance

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2
Q

Right of appropriation

A

the legal right to take possession of and use for beneficial purposes water from streams or other bodies of water

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3
Q

appurtenance

A

an object, right or interest that is incidental to the land and goes with or pertains to the land

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4
Q

base lines

A

in the sections and townships method of land description California has three sets of base lines, which are east-west lines and meridians which are north-south

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5
Q

bill of sale

A

written document given by a seller to a purchaser of personal property

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6
Q

bundle of rights

A

rights the law attribute to ownership of property

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7
Q

law of capture

A

the legal right of a landowner to all of the gas, oil, and steam produced from wells drilled directly underneath on his or her property, even if the gas, oil, or steam migrates from below a neighbors property

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8
Q

commercial acre

A

the buildable part of an acre that remains after subtracting the forfeiture of an interest in property

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9
Q

condition subsequent

A

a condition that, upon its occurrence, can result in the forfeiture of an interest in property

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10
Q

covenant

A

a contractual promise to do or not do certain acts, the remedy for breach thereof being either monetary damages or injunctive relief, not forfeiture

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11
Q

CC&R

A

an abbreviation of “covenants, conditions, and restrictions often used to refer to restrictions recorded by a developer on an entire subdivision

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12
Q

deed

A

a document that when signed by the grantor and legally delivered to the grantee conveys title to real property

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13
Q

dominant tenenment

A

land that is benefited by an easement appurtenant

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14
Q

easement

A

right to use a portion of another property owners land for a specific purpose

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15
Q

easement appurtenant

A

an easement that benefits, and is appurtenant to, anothers land

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16
Q

easement by necessity

A

land purchase has no access except over the land of someone other than from the person from whom the parcel was purchased

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17
Q

easement in gross

A

an easement that benefits a legal person rather than other land

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18
Q

ejectment

A

a legal action to recover possession of real property from a person who is not legally entitled to possess it, such as to remove an encroachment or to evict a defaulting buyer

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19
Q

emblements

A

growing crops, that are produced seasonally through a tenants farmers labor and industry

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20
Q

encroachment

A

a thing affixed under, on, or above the land of another without permission

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21
Q

encumber

A

to place a lien or other encumbrance on property

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22
Q

encumbrance

A

right or interest held by someone other than the owner of the proper that affects or limits the ownership of the property, such as easements and liens

23
Q

fixture

A

an object originally personal property, that is attached to the land in such a manner as to be considered real property

24
Q

good faith improver

A

a person who, because of a mistake of law or fact, makes an improvement to land in good faith and under erroneous belief that he or she is the owner of the land

25
Q

implied easement

A

an easement arising by implication. when a purchase of mineral rights automatically acquires an implied right to enter the property to extract the minerals

26
Q

lateral support

A

the support that soil receives from the land adjacent to it

27
Q

Metes and bounds land description

A

a method of describing a parcel of land that uses physical features of the locale

28
Q

nuisance

A

anything that is indecent or offensive to the senses, or an obstruction to the free use of property

29
Q

point of beginning

A

the fixed starting point in the metes and bounds method

30
Q

profit a prendre

A

the right to enter anothers land for such a purpose as to drill for oil etc

31
Q

recorded map land description

A

propertys lot, block and tract number

32
Q

riparian rights

A

the rights of a landowner to use water from a stream or lake adjacent to his or her property within reason

33
Q

section

A

one square mile, containing 640 acres

34
Q

sections and township land description

A

a method of land description based on a grid system of north0south

35
Q

servient tenement

A

land that is burdened by an easement

36
Q

subjacent support

A

the support that soil receives from land beneath it

37
Q

township

A

six square miles, contain 36 sections

38
Q

trade fixtures

A

objects that a tenant attaches to real property for use in the tenants trade or business

39
Q

bundle of rights

A

right to possess, use, enjoy, encumber, sell, or exclude from others

40
Q

deed

A

transfer of real property

41
Q

bill of sale

A

in excess of $500 and in writing

42
Q

domicille

A

owners permanent residents

43
Q

littoral rights

A

landowner to reasonable use of water from lakes, seas, or oceans Non flowing water

44
Q

encumbered by an easement

A

servient tenement

45
Q

express grant

A

the owner of the servient tenement expreslly grants someone else the rights to use the servient land for some purpose

46
Q

express reservation

A

the owner of the servient tenement expressly reserves the right to use a portion of the servient tenement

47
Q

tests of a fixture

A

method of attachment, adaptability of the attached item, relationship of the parties, intent of the person attaching the item (most significant)

48
Q

subdivision

A

land parcel of land is divided into smaller parcels

49
Q

Alloidal

A

modern form of ownership

50
Q

statutory lien

A

one that arises out of specific law

51
Q

judgement lien

A

judgment lien, however, is a decision directed by the courts and can apply to whatever assets it deems appropriate.

52
Q

covenant of seisin

A

gives owners the right to sell or transfer property at will.

53
Q

recording of a deed

A

Gives constructive notice of the ownership of real property

54
Q

primary purpose of a deed is to

A

Transfer title rights

Real Estate Prep (9 decks)

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