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Real Estate Class > Unit 1 > Flashcards

Unit 1 Flashcards

1
Q

Appurtenances

A

Things attached to the property, benefit and RUN WITH the property.

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2
Q

Riparian Rights

A

Rights to river, lake, or ocean -RI words River, Riparian

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3
Q

Erosion

A

The gradual loss of land due to natural causes

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4
Q

Eccrition

A

The gradual gain of land due to natural causes - Mississippi river sand bars, deposits of sand.

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5
Q

Subsurface Rights

A

Rights to underground minerals, which may be reserved or transferred

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6
Q

Air Rights

A

Rights to air space above property, gov controls, owner may not interfere.

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7
Q

Physical Components of Land

A

Air, Surface, Subsurface - NOT TIMBER

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8
Q

We are helping buy, sell, or transfer what?

A

Land - NOT A HOUSE

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9
Q

Improvements

A

The items affixed to the land with the intent of being permanant - house, fence, driveway, landscaping

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10
Q

Chattel

A

Personal property, retained by seller, everything that is not real estate.

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11
Q

The Law of Fixtures

A

Common Law, created throught court cases,

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12
Q

FIxture

A

Object that was once personal property but was attached to an improvement so as to become real estate.

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13
Q

Test of Fixture

A

Attachment, Adaptation, Agreement -

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14
Q

Scarcity

A

Limited supply of land, gives it it’s value.

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15
Q

Situs

A

Locational Preference, value of land is effected by actions in the surrounding area.

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16
Q

Physical Characteristics of LAND

A

Immobility - can’t be moved, Indistructible, Uniqueness

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17
Q

Immobility

A

Land can’t be moved

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18
Q

Industructability

A

Can’t be destroyed, even a sinkhole

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19
Q

Uniqueness

A

No 2 parcels are the same

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20
Q

3 Legal Methods of Land Description

A

Metes and Bounds, Rectangular Survey, Recorded Plat

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21
Q

Metes and Bounds

A

Metes is measures, bounds is shape or boundries. You being and end at Point of Beginning (POB). POB is at Natural or man made monument. Measure in a clockwise direction.

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22
Q

Our Prime Meridian (Government Survey Syst)

A

Tallahassee Prime Meridian, north south

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23
Q

How many Prime Meridians in the US?

A

36

24
Q

Ranges - GSS

A

Are 6 miles wide and run North South, like a column on a an excel spreadsheet

25
Q

Tier - GSS

A

Are 6 miles wide and run East-West, like a row on exel spreadsheet.

26
Q

Township GSS

A

6 miles by 6 miles, 6 miles square, contain 36 miles

27
Q

Township is divided

A

into 36 1 mile by 1 mile sections

28
Q

Section

A

1 mile x 1 mile, contains 640 acres

29
Q

1 Acre = x feet

A

43,560

30
Q

In relation to the principal Meridian (Exact Exam question)

A

18

31
Q

Lot and block method

A

describes land by referring to a lot number on a plat map that has been filed with the county

32
Q

Plat Map

A

shows lots, divisions, and street locations when a parcel is subdivided. See the with builders in a community.

33
Q

Dedication

A

The transfer of land suck as roadways and other public spaces, to a government body for public use.

34
Q

3 types of land transfer

A

Private - person to person, Public Grant - gov to individual, Dedication - individual to Gov

35
Q

How to find acres in the whatever quarter etc.. of a section.

A

Start with 640 and keep dividing by the bottom number of each fraction in order.

36
Q

Feet in an acre

A

43560

37
Q

To convert acre to square feet

A

Multiply # of acres by 43560

38
Q

What direction does a line run from a given point North 90 East? (Exact Exam ?)

A

East to West

39
Q

Our Base Line (For GSS)

A

Runs East to West, Talahassee Base Line for Government Survey System

40
Q

The Government Survey System, GSS, starting point for identifying properties is the

A

Tallahassee Principal Meridian, and the Talahassee Base Meridian

41
Q

All of these are used in the GSS

A

Section, Township, Range, Talahassee Principal Meridian, Talahassee Base Line,

42
Q

Acres in a section

A

640

43
Q

Square Miles in a Section

A

1

44
Q

4 Government powers

A

Taxation, Police power, eminent domain, escheat.

45
Q

Government Police Power

A

The authority of the gov to enact and enforce land use controls.

46
Q

Reasons for Police power

A
  1. Protect Public health, welfare and safety
  2. Ensure land uses are compatible with surroundings
  3. Allow orderly and stable growth
47
Q

Planning and Zoning

A

Created by a local planning commission or board that advises elected officials, the County Commissioners.

48
Q

Planning and Zoning Ordinances

A

Enacted to ensure that property and owners adhere to land use restrictions.

49
Q

Purpose of Planning and Zoning

A

To protect the integrity of the community.

50
Q

Master Comprehensive Develpment Plan

A
  1. Land studies show the present and anticipated future uses of properties
  2. Economic studies show the present and anticiapatedfurtuer economic base of the area
51
Q

Zoning Classifications and restrictions

A

specifiy ACCEPTABLE USE AND DENSITY

52
Q

5 Categories of Zones

A
  1. Residential
  2. Commercia
  3. Industrial and Manufacturing
  4. Agricultural
  5. Planned Use Developments and Mixed Use
53
Q

Buffer Zone

A

Strip of land that separate 2 drastically different Land Use Zones. Might be a park.

54
Q

Building Codes

A
  1. Protect from inferior construction practices.
  2. Set minimum standards for materials and quality of workmanship
  3. State Code is Florida Building Code
55
Q

Land Use Restrictions (under Police Power)

A

Building permits and inspections are required to rovide evidence of compliance

56
Q

Setbacks

A

restriction in which the area in which you can build. Roughly 10 ft in from side and back, 30 ft in from front. You can build in the middle. (Different numbers for smaller properties.) Net buildable area

57
Q

Setback test question

A

Setback on test is only from the front of the property. From the front end of the property. The Net Buildable area.

Real Estate Class (12 decks)

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