What is Real Estate?

Question 1

What rights are included in the bundle of rights?

Answer 1

Possession
Use (in any legal manor)
Enjoyment (quiet enjoyment)
Exclusion
Disposition or alienation

Question 2

What is the bundle of rights?

Answer 2

The rights included with real estate property ownership.

Question 3

What are the rights included with real estate property ownership referred to as?

Answer 3

Bundle of rights

Question 4

Disposition

Answer 4

To sell or give away.

Question 5

Which right in the bundle of rights mean a real estate property owner can sell or give away their property?

Answer 5

Disposition or alienation.

Question 6

What is the word that describes buildings, utilities, sewers and other manufactured, permanent additions to the property?

Answer 6

Improvements

Question 7

Other terms for real estate.

Answer 7

Real property, realty.

Question 8

What are corporeal assets?

Answer 8

Tangible, physical items.
Example: buildings and trees

Question 9

What are physical items on a property called?

Answer 9

Corporeal or tangible assets.

Question 10

What are incorporeal assets?

Answer 10

Intangible, non-physical.
Examples: Views or rights.

Question 11

What are the non-physical items on a property called?

Answer 11

Incorporeal or intangible.

Question 12

Another term for subsurface rights?

Answer 12

Mineral rights

Question 13

What is littoral land?

Answer 13

Land bordering lakes, oceans, or other large bodies of water affected by tide currents.

Question 14

What is it called when land borders lakes, oceans, or other large bodies of water affected by tide currents?

Answer 14

Littoral

Question 15

What is riparian land?

Answer 15

Land bordering rivers, streams and waterways.

Question 16

What is it called when land borders rivers, streams and waterways?

Answer 16

Riparian

Question 17

What determines if a waterway is navigable?

Answer 17

Federal survey map.

Question 18

The process when a stream suddenly changes course.

Answer 18

Avulsion.

Question 19

Increase of land cause by the gradual depositing of solid material by a waterway.

Answer 19

Accretion

Question 20

What is the solid material called that can add to or take away from land.

Answer 20

Alluvion

Question 21

Loss of land due to the gradual removal of solid material by a waterway.

Answer 21

Erosion

Question 22

The creation of dry land by the gradual withdrawal of water from the land by the lowering of its surface level.

Answer 22

Reliction

Question 23

What is it called if a piece of real estate gets separated from the property and becomes personal property? For example, a tree (real estate) gets cut down.

Answer 23

Severance

Question 24

Tangible personal property is called what?

Answer 24

Chattels

Question 25

What are chattels?

Answer 25

Tangible personal property.

Question 26

What is used to transfer ownership of real estate?

Answer 26

Deed

Question 27

What is used to transfer ownership of personal property?

Answer 27

Bill of sale.

Question 28

What does a deed do?

Answer 28

Transfers ownership of real estate.

Question 29

What is vegetation called that is considered personal property?

Answer 29

Emblements

Question 30

What are the legal tests of a fixture?

Answer 30

“MARIA”
-Method of annexation
-Adaptation of the article to the house
-Relationship of the parties
-Intention of the parties
-Agreement of the parties

Question 31

Term used to reference a specific tract of land.

Answer 31

Parcel

Question 32

How are properties that border water often priced?

Answer 32

By the front foot.

Question 33

How does personal property differ from real property?

Answer 33

Mobility

Question 34

Under what conditions can a mobile home be sold as real estate?

Answer 34

If it is permanently attached to the land by an approved foundation.