Vocabulary: Chapter 2-real property and the law

Question 0

Accession

Answer 0

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

Question 1

Appurtenances

Answer 1

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

Question 2

Air rights

Answer 2

The right to use the open space above the property, usually allowing the surface to be use for another purpose

Question 3

Annexation

Answer 3

Process of converting personal property into real property

Question 4

Area preference

Answer 4

People desire for one area over another, based on a number of factors such as history, reputation, convenience, scenic beauty, and location

Question 5

Bundle of legal rights

Answer 5

The concept of land ownership that includes ownership of all legal rights to the land-possession, control within the law, enjoyment, exclusion, and disposition

Question 6

Chattel

Answer 6

Items called chattels that do not fit into the definition of real property; movable objects

Question 7

Emblements

Answer 7

Growing crops, such as corn, that are produced annually through labor and industry; also called Fructus Industriales

Question 8

Fixture

Answer 8

An item of personal property that has been converted to real property by being permanently affixed to the realty

Question 9

Improvement

Answer 9

(1) any structure, usually privately owned, corrected on the site to enhance the value of property e.g. building a fence or driveway
(2) a publicly own structure added to or benefit in land e.g. the curb, sidewalk, Street, or sewer

Question 10

Land

Answer 10

The earth surface, extending downward to the center of the earth and upper indefinitely into space, including things permanently attached by nature, such as trees and water

Question 11

Manufactured housing

Answer 11

Dwellings that are built off-site and trucked to a building lot where they are installed or assembled

Question 12

Non-homogeneity

Answer 12

A lack of uniformity dissimilarity. Because no two parcels of land are exactly alike, real estate said to be nonhomogeneous

Question 13

Personal property

Answer 13

Items, called chattels, that do not fit into the definition of real property movable objects

Question 14

Real estate

Answer 14

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

Question 15

Real property

Answer 15

The interest, benefits, and rights inherited in real estate ownership

Question 16

Severance

Answer 16

Changing an item of real estate to personal property by detaching from the land e.g. cutting down a tree

Question 17

Situs

Answer 17

The personal preference of people for one area over another, not necessarily based on objective facts and knowledge

Question 18

Sub surface rights

Answer 18

Ownership rights in a parcel of real estate to the water, minerals, gas, oil, and so forth that lie beneath the surface of the property

Question 19

Surface rights

Answer 19

Ownership rights in a parcel of real estate that are limited to the surface of the property and do not include the air above it or the minerals below the surface

Question 20

Trade fixture

Answer 20

An article installed by a tenant under the terms of the lease and removable by the tenant before the lease expires

Question 21

Water rights

Answer 21

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