Unit #2 - Nature of Real Property Vocab Flashcards
Air Rights
The right to build or develop in the airspace of a property. They can be transferrable from one property owner to another.
Appurtenance
Anything used with the land for the benefit of it’s owners, such as a roadway or waterway. (easements, right-of-ways, and condo parking)
Base line
A point of reference, predetermined and runs east-west
Bill of Sale
Transfers ownership of personal property (property, car, etc)
Bundle of Rights
Real property is described as a bundle of rights, including legal rights of ownership. (Possession, use, enjoyment, disposition, exclusion)
Civil Law
The system of law concerned with private relations between members of a community rather than criminal, military, or religious affairs.
Common Law
Also known as judicial precedent, judge-made law, or case law, is the body of law created by judges.
Community Property
Property acquired by spouses during marriage.
Correction Line
Every four townships north and south of a baseline, a correction line is measured at the full interval (6 miles) for that side of each township it borders.
Correlative Use
Doctrine that states that property owners may use a reasonable amount of water from an underground source, but not to the detriment of adjoining property owners
Emblements
Crops produced annually by labor and industry as distinguished from crops that grow naturally on the land. (Ex: corn, wheat, rye, potatoes, garden vegetables)
NOT Emblements: trees, grass, and naturally growing fruit
Fixture
Any object permanently attached to a property by way of bolts, screws, nails, glue, cement, or other means. Items like chandeliers, ceiling fans, and window treatments
Fructus Industriales
Crops produced by human labor (lettuce cotton, grapes, etc)
Fructus Naturales
Naturally occurring plant growth such as grasses.
Guide Meridian
Every four townships east and west of the principal meridian, establishes the full interval of 6 miles for that side of each township it borders.
Land
Land refers to the earth’s surface down to the center of the earth and upward to the airspace above, including the trees, minerals, and water.