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30 Cards in this Set

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ESTATE

1. the most complete form of wonership of real property: a freehold estate that can be passed by descent or by will after the owners death:also known as estate of inheritance or fee simple estate.

2. A leagal interest in land: defines the nature, degree, extent and duration of a person's ownership in land.

3. An estate in which the holder has a fee simple title, subject to return to the grantor if a specified condition occurs.
2. A leagal interest in land: defines the nature, degree, extent and duration of a person's ownership in land.
EMBLEMENTS

1. Annual crops produced for sale

2. personal property

3.also known as fee simple qualified
1. Annual crops produced for sale
DOCTRINE OF CORRELATIVE USER

1. Land bording a lake, ocean or sea-as opposed to land bordering a stream or river 9running water)

2. owner may use only a reasonable amount of the total underground water supply for his or her benficial use.

3. The rights of a landowner whose land is next to a natural watercourse to reasonable use of whatever water flows past the property.
2. owner may use only a reasonable amount of the total underground water supply for his or her benficial use.
CONDITION SUBSEQUENT

1. a condition which requires something to occur before a transaction becomes absolute and enforceable: for example, a sale that is contingent on the buyer obtaining financing.

2. those rights and privileges and improvements that belong to and pass with the transfer of real property but are not necessarily a part of the actual property.

3. a condition which if it occurs at some point in the future, can cause a property to revert to the grantor: for example, a requirement in a grant deed that a buyer must never use the property for anything other than a private residence.
3. a condition which if it occurs at some point in the future, can cause a property to revert to the grantor: for example, a requirement in a grant deed that a buyer must never use the property for anything other than a private residence.
CONDITION PRECEDENT

1. A condition which requires something to occur before a transaction becomes absolute and enforceable: for example, a sale that is contingent on the buyer obtaining financing.

2. a condition which, if it occurs at some point in the future, can cause a property to revert to the grantor: for example, a requirement in a grant deed that a buyer must never use the property for anything other than a private residence.

3. an estate in which the holder has a fee simple title, subject to return to the grantor if a specified contition occurs.
1. A condition which requires something to occur before a transaction becomes absolute and enforceable: for example, a sale that is contingent on the buyer obtaining financing.
CHATTEL REAL
1. personal property

2. an item of personal property which is connected to real estate: for example, a lease

3. annual crops produced for sale.
2. an item of personal property which is connected to real estate: for example, a lease
CHATTEL
1. personal property

2. an item of personal property which is connected to real estate: for example. a lease

3. annual crops produced for sale
1. personal property
BUNDLE OF RIGHTS

1. a legal interest in land:defines the nature, degree, extent and duration of a person's ownership in land.

2. the largest, most complete ownership recongnized by law: and estate in fee with no restrictions on its use

3. an estate in which the holder has a fee simple title, subject to return to the grantor if a specified condition occurs.

4. an ownership concept describing all the legal rights that attach to the ownership of real property.
4.an ownership concept describing all the legal rights that attach to the ownership of real property.
Bill of sale

1. a condition which requires something to occur before a transaction beconmes absolute and enforceable: for example, a sale that is contingent on the buyer obtaining financing

2.also known as a fee simple estate.

3. a written agreement used to transfer ownership in personal property
a written agreement used to transfer ownership in personal property
Base Line

1.A survey line running north and south, used as a reference when mapping land

2. an area of land, as used in the government survey method of land description:a land area of one square mile or 640 acres: 1/36 of a town ship

3.a method of land description in which the dimensions of the property sured by distance and direction.

4. a land description used in the u.s government survey system consisting of a six-by -six mile area containing 36 sections, each one mile square.
a survey line running east and west, used as a reference when mapping land
Appurtenance

1. those rights, privileges and improvements that blong to and pass with the transfer of real property but are not necessarley a part of the actual property.

2.a condition which requires something to occure before a transaction becomes
absolute and enforceable:for example, a sale that is contingent on the buyer obtaining financing

3.the most complete from of ownership of real property:
a freehold estate that can be passed by descent or by will after the owners death:
also known as estate of inheritance or fee simple estate.
Those rights, privileges and improvements that belong to and pass with the transfer of real property but are not necessarily a part of the actual property.
Plat map

1. An area of land, as used in the government survey method of land description:a land area of one square mile or 640 acres: 1/36 of a town ship

2. a map of a town or subdivision showing the location and boundaries of individual properties, used in the recorded tract system to describe land.

3. a land description used in the u.s government survey system consisting of a strip of land located every six miles east and west of each principal meridian
2. a map of a town or subdivision showing the location and boundaries of individual properties, used in the recorded tract system to describe land.
PERSONAL PROPERTY

1. Anything movable that is not real property.

2. The rights or interests which an owner has in something owned.
1. Anything movable that is not real property.
MONUMENT

1. A land description used in the u.s. government survey system consisting of a strip of land located every six miles east and west of each principal meridian.

2. Land, anything affixed to the land, anything appurtenant to the land, anything immovable by law.

3. A fixed landmark used in a metes and bounds land description.
3. A fixed landmark used in a metes and bounds land description.
METES AND BOUNDS

1. A survey line running north and south, used as a reference when mapping land.

2. an area of land, as used in the government survey method of land description:a land area of one square mile or 640 acres: 1/36 of a township.

3. A method of land description in which the dimensions of the property are measured by distance and direction.
3. A method of land description in which the dimensions of the property are measured by distance and direction.
MERIDIAN

1. A survey line running north and south, used as a reference when mapping land.

2. A method of land description in which the dimensions of the property are measured by distance and direction.

3. A map of a town or subdivision showing the location and boundaries of individual properties, used in the recorded tract system to describe land.
1. A survey line running north and south, used as a reference when mapping land.
LITTORAL

1. A survey line running north south, used as a reference when mapping land

2. The rights or interests which an owner has in something owned.

3. Land bordering a lake, ocean or sea-as opposed to land bordering a stream or river (running water)
3. Land bordering a lake, ocean or sea-as opposed to land bordering a stream or river (running water)
Linear Foot

1. a method of land description in which the dimensions of the property are measured by distance and direction.

2. A measurement meaning one foot or 12 inches in length as contrasted to a square foot or a cubic foot.

3. a survey line running north and south, used as a reference when mapping land.
2. A measurement meaning one foot or 12 inches in length as contrasted to a square foot or a cubic foot
LIFE ESTATE

1. An estate that is limited in duration to the life of its owner or the life of some other chosen person.

2. An estate in real property which continues for an indefinite period of time .

3. see estate in fee or fee simple absolute.
1. An estate that is limited in duration to the life of its owner or the life of some other chosen person.
LESS THAN FREE HOLD ESTATE

1. an estate in real property which continues for an indefinite period of time.

2. an estate that is limited in duration to the life of its owner or the life of some other chosen person.

3. A leasehold estate, considered to exist for a definite period of time or successive periods of time until termination.
3. A leasehold estate, considered to exist for a definite period of time or successive periods of time until termination.
FREEHOLD ESTATE

1. a leasehold estate, considered to exist for a definite period fo time or successive periods of time until termination.

2. An estate in real property which continues for an indefinite period of time.

3. an estate that is limited in duration to the life of its owner or the life of some other chosen person.
2. An estate in real property which continues for an indefinite period of time.
FIXTURE

1. personal property that has become affixed to real estate

2. An item of personal property which is connected to real estate: for example, a lease

3. personal property
1. personal property that has become affixed to real estate
FEE SIMPLE QUALIFIED

1. see estate in fee

2. see estate in fee or fee simple absolute

3. An estate in which the holder has a fee simple title, subject to return to the grantor if a specified condition occurs.
3. An estate in which the holder has a fee simple title, subject to return to the grantor if a specified condition occurs.
FEE SIMPLE DEFEASIBLE

1. An estate in which the holder has a fee simple title, subject to return to the grantor if a specified condition occurs.

2. Also known as fee simple qualified.

3. The largest, most complete ownership recognized by law:an estate in fee with no restrictions on its use.
2. Also known as fee simple qualified.
FEE SIMPLE DEFEASIBLE

1. SEE ESTATE IN FEE OR FEE SIMPLE ABSOLUTE

2. SEE ESTATE IN FEE

3. ALSO KNOWN AS FEE SIMPLE QUALIFIED
3. ALSO KNOWN AS FEE SIMPLE QUALIFIED
FEE SIMPLE ESTATE

1. SEE ESTATE IN FEE

2. ALSO KNOWN AS FEE SIMPLE QUALIFIED

3. AN ESTATE IN WHICH THE HOLDER HAS A FEE SIMPLE TITLE, SUBJECT TO RETURN TO THE GRANTOR IF A SPECIFIED CONDITION OCCURS.
1. SEE ESTATE IN FEE
Fee simple absolute

1. THE LARGEST, MOST COMPLETE OWNERSHIP RECOGNIZED BY LAW:AN ESTATE IN FEE WITH NO RESTRICTIONS ON IT USE.

2. ALSO LKOWN AS FEE SIMPLE QUALIFIED.

3. AN ESTATE IN WHICH THE HOLDER HAS A FEE SIMPLE TITLE, SUBJECT TO RETURN TO THE GRANTOR IF A SPECIFIED CONDITION OCCURS.
1. THE LARGEST, MOST COMPLETE OWNERSHIP RECOGNIZED BY LAW:AN ESTATE IN FEE WITH NO RESTRICTIONS ON IT USE.
FEE

1. See estate in fee

2. see estate in fee or fee simple absolute

3. the largest, most complete ownership recognized by law:and estate in fee with no restrictions on its use
2. see estate in fee or fee simple absolute
STATE OF INHERTANCE

1.SEE ESTATE IN FEE OR FEE SIMPLE ABSOLUTE

2. ALSO KNOWN AS FEE SIMPLE QUALIFIED

3. SEE ESTATE IN FEE
3. SEE ESTATE IN FEE
ESTATE IN FEE
1. the most complete form of ownership of real property:a freehold estate that can be passed by descent or by will after the ower's death: also known as estate of inheritance or fee simple estate.

2. A leagal interest in land: defines the nature, degree, extent and duration of a person's ownership in land.

3. the largest, most complete ownership recongized by law:an estate in fee with no restrictions on its use.
1. the most complete form of ownership of real property:a freehold estate that can be passed by descent or by will after the ower's death: also known as estate of inheritance or fee simple estate.