Unit 2

Question 1

Land

Answer 1

Includes earths surface, its subsurface extending downward ti the center if the earth, and the air space above the surface

Question 2

Physical characteristics of land

Answer 2

Indestructibility, immobility, nonhomogeneity

Question 3

Subsurface rights

Answer 3

Ownership rights in a parcel of real estate to the water, minerals, gas, oil and so forth that lies beneath the earths surface. Includes mineral rights and other natural resources that can be leased or sold separately from surface rights.

Question 4

Air rights

Answer 4

The right to use the open space above a property, usually allowing the surface to be used for another purpose. Can be sold separately from surface rights and have limitations to enable air travel.

Question 5

Water rights

Answer 5

Common law rights held by owners of land adjacent to rivers, lakes, or oceans; includes restrictions on those rights and land ownership.

Question 6

Real estate

Answer 6

Land; a portion id the earths surface extending downward ti the center of the earth and upward infinitely to space, including all things permanently attached to it, whether naturally or artificially.

Question 7

Real property

Answer 7

Includes the interests, benefits, and rights that are automatically included in the ownership of unimproved land and real estate.

Question 8

Bundle of legal rights

Answer 8

The rights of possession, control, enjoyment, exclusion, and disposition.

Question 9

Title

Answer 9

The right to ownership or the ownership of real property and the evidence of ownership provided by a written document, called a deed, by which the title is transferred.

Question 10

Appurtenance

Answer 10

A right, privilege, or improvement belonging to, and passing with, the land; “runs with the land”

Question 11

Water rights include

Answer 11

Riparian rights
Littoral rights

Question 12

Riparian rights

Answer 12

An owners rights in land that borders on or includes a stream, river, or lake. These rights include access to and the use of water.

Question 13

Littoral rights

Answer 13

Belong to owners of land that birders a commercially navigable lake, sea, or ocean. A landowners claim to use water in large navigable lakes and oceans adjacent to their property. The ownership rights to land bordering these bodies of water up to the high water mark.

Question 14

Doctrine of Prior appropriation

Answer 14

A concept if water ownership in which the landowner’s right to use available water is based on a government- administered permit system. For example… to use the water, the land owner must demonstrate a beneficial use of the water, such as irrigation of crops.

Question 15

Economic characteristics of land

Answer 15

Scarcity, improvements, performance of the investment, and area preference

Question 16

Emblements

Answer 16

Growing crops, such as corn, that are produced annually through labor and industry; also called fructus industriales.

Question 17

Severance

Answer 17

Changing an item of real estate ti personal property by detaching it from the land.

Question 18

Annexation

Answer 18

Process of converting personal property into real property

Question 19

Fixture

Answer 19

Personal property that has been fixed to the land or to a building so that by law it becomes part of the real property.

Question 20

Legal tests for a fixture (MARIA)

Answer 20

METHOD of ATTACHMENT, ADAPTABILITY of the thing for the lands ordinary use, RELATIONSHIP of the parties, INTENT in placing the item in the land, and AGREEMENT of the parties.

Question 21

Trade fixture

Answer 21

An article installed by a tenant under the terms if a lease that is removable by the tenant before the lease expires

Question 22

Accession

Answer 22

Acquiring title to additions or improvements to real property as a result of annexation of fixtures or the accretion of alluvial deposits along the banks of streams.