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10 Cards in this Set
- Front
- Back
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Define LAND.
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The earth and
1. all that is on the surface. 2. all that is below the surface. 3. the space of air that is above the surface. 4. everything attached by nature. |
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Define REAL PROPERTY.
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Land and all that is permanently attached by land including the bundle of rights.
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Define FIXTURE.
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An item of personal property that has been changed into real property as a result of permanent attachment to the real property.
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Name 4 LEGAL TESTS of a FIXTURE.
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C = Contract
I= Intention A = Annexation A = Adaptation |
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What is ZONING?
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Laws established by local governments to provide controls on the use of real property.
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Define NON CONFORMING USE.
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A property that is not in complience with current zoning laws, but because the property was in complience prior to the most recent zoning law change, it is permited to continue that prior use to avoid any unreasonable hardship to the owner.
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Define EMINENT DOMAIN.
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The right of the government to take private property for public use with just compensation.
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List the GOVERNMENT POWERS over privately owned real property.
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P = Police power
E = Eminent domain T = Taxation E = Escheat |
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Name the 5 BUNDLE OF LEGAL RIGHTS.
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D = Disposition
E = Enjoyment E = Exclution P = Possesion C = Control |
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What is ESCHEAT?
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The return of ownership of real property to the state government when an owner dies intestate (with no heirs).
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