UNIT 2 REAL PROPERTY AND THE LAW Flashcards
ACCRETION
The increase in land due to natural causes
AIR RIGHTS
The right to use the open space above a property.
ANNEXATION
Process of converting personal property to real property.
APPURTENANCES
The rights and improvements that are transferred with the land unless reserved or expected.
AREA PREFERENCE
Peoples desire of one area over another.
AVULSION
The sudden tearing away of land.
BUNDLE OF RIGHTS
The concept of land ownership that includes ownership of all legal rights to the land.
EMBLEMENTS
The right of a tenant farmer to harvest crops after the lease expiration.
EROSION
The gradual wearing away of land.
FIXTURE
Personal property that has been converted to real property.
IMPROVEMENT
Any property that enhances the value of the property.
LAND
The earth’s surface; extending down to the center of the earth and upward infinitely into space.
LITTORAL RIGHTS
Rights adjacent to lakes or oceans.
MANUFACTURED HOUSING
Dwellings built offsite.
NONHOMOGENEITY
No two parcels of land are identical.
REAL ESTATE
land, portion of the earth’s surface.
REAL PROPERTY
Benefits and rights inherent in real estate ownership
RIPARIAN RIGHTS
Water rights along a stream or river.
SEVERANCE
Detaching an item of real property and converting it to personal property.
SITUS
The location of land for legal purposes.
SUBSURFACE RIGHTS
Ownership rights over minerals and other substances found below a property.
SURFACE RIGHTS
Rights limited to the surface of real property.
TRADE FIXTURES
Personal property that is installed by a tenant under the terms of a lease that may be removed before expiration of the lease.
WATER RIGHTS
Interest that may attach to real estate ownership and pertain to the rights to use adjacent bodies of water.
