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Real Estate > Unit 1 > Flashcards

Unit 1 Flashcards

1
Q

Appurtenances

A

Attached to.
Example: land includes appurtenances. The things attached to the land (built on)

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2
Q

3 Rights

A

Air rights
Surface rights
Sub surface rights

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3
Q

Riparian

A

Rights to a river, lake, or ocean

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4
Q

Erosion

A

Gradual loss of land

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5
Q

Accretion

A

Gradual gain of land

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6
Q

Sub surface rights

A

All rights to minerals under you fo be reserved or transferred

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7
Q

Air rights

A

-Government controls air space
-owners may not interfere

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8
Q

All of the following are physical components of land except

A

Air rights
Surface rights
Sub service rights
Timber rights

(Timber rights)

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9
Q

Example of improvement

A

Anything attached to land

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10
Q

Chattel

A

Everything that is not actual real estate
(Furniture, personal stuff)
Washer
Dryer
Fridge
(Must be added to agreement)
Addendum must be added for ^

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11
Q

Law of Fixtures

A

An object that was once personal property but has been attached to an improvement so as to become real estate

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12
Q

Attachment

A

Permanent or not

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13
Q

Adaption

A

Built in or custom made

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14
Q

Agreement

A

In writing

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15
Q

3 As

A

Attachment, Adaption, Agreement

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16
Q

Scarcity

A

Limited supply of land

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17
Q

Situs

A

Location
Location
Location

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18
Q

The economic characteristic that deals with the value of land being affected by actions in the surrounding area

A

Situs

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19
Q

Immobility

A

Land cannot be moved

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20
Q

Indestructibility

A

Land is permanent

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21
Q

Uniqueness

A

No two parcels of land are the same

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22
Q

Metes and Bounds

A

Metes = Measures
Bounds = Shape or boundaries

Begin and end at point of beginning

Measure in clockwise direction

23
Q

POB

A

Point of beginning
Natural or Man made monument

24
Q

The point in which a metes and bounds description ends is called the point of ending

A

False

POB (true)

25
Q

NESW

A

N 0 degrees
E 90 degrees
S 0 degrees
W 90 degrees

26
Q

Tallahassee principal Meridian

A

36 principle meridians in entire state

27
Q

Tallahassee base line

A

East west line

28
Q

Ranges

A

6 miles wide and run north to south

29
Q

Range 1
(Tier)

A

6 miles from Meridian

30
Q

Range 2

A

12 miles from meridian

31
Q

Town ships

A

36 square mile
6 miles squared

32
Q

Town ship

A

640 acres
36 miles
36 sections
43,560 sqft
Each section 1 by 1 mile

33
Q

How many acres in the NW 1/4 of the SW 1/4 of the SE 1/4 of the SE 1/4

A

2.5 acres

34
Q

To convert aceage to square feet multiply the number of acres by 43,560 square feet per acre

How many square feet is in 3 acres?

A

130,680 sqft

35
Q

In relation to the principal Meridian, what is the location of 30, township 3 South range 4 east

A

18 miles east

36
Q

What direction does a line run from a given point North 90 East?

A

E-W

East to west

37
Q

What are the North/South line and the East/West line that intersect

A

Principal Meridian and base line

38
Q

What is the proper order when expressing the range, township and section?

A

Section, Township, Range

39
Q

Plat map

A

Plat is a map that shows the lots, divisions, and street locations when a parcel is subdivided

40
Q

Dedication

A

Is the transfer of land, such as roadways or other public spaces, to a government body for public use

41
Q

A tract of land measuring 330 feet wide by 1,320 feet deep would contain:

A

10 acres

330x1320 = 435,600 square feet; 435,600 divided 43,560 = 10 acres

42
Q

Gradual loss of land due to natural causes

A

Erosion

43
Q

An item effixed to land with the intent of being permanent

A

Improvement

44
Q

All property other than real estate

A

Chattel

45
Q

An object that was once personal property but has been attached to an improvement as to become

A

real estate

46
Q

Land in improvements in the rights to own and use them

A

Real estate real property

47
Q

Tenant installed additions which are a necessary part of the tenants trade or business

A

Trade fixtures
These belong to tenant

48
Q

The economic characteristics of real property that causes land to be affected in the surrounding areas

A

Situs
(Location)

49
Q

A type of property description that utilizes distance and direction to proceed around the property to return in point of the beginning

A

Meets and bounds
P.O.B
(Beginning and end)
Clockwise
. .
. .
Survey pins
Monuments

50
Q

A recorded map that shows the lots divisions and street locations in a sub division

A

Lot and block
A recorded plat

51
Q

The imaginary north and south line that intersects the base line and is used as a reference line for numbering ranges

A

Principal Meridian

52
Q

Florida Principal Meridian

A

Tallahassee principal Meridian

53
Q

Principal Meridian

A

Main principal Meridian
Base line that intersects main line
-Vertical line (Range line) Every 6 miles from main meridian
-Horizontal line (Tier Line) every 6 miles from Base line

Little squares 6 miles by 6 miles (Town ship)

Inside town ship 36 individual squares Mike by mile (Sections)

Real Estate (12 decks)

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