Realty And Personal Property (Real Property And The Law)

Front 1

What is land?

Back 1

The earth's surface extending downward to the center of the earth and upward to infinity.

Front 2

What is real estate?

Back 2

Land plus all human made improvements to the land that are permanently attached.

Front 3

What is an improvement?

Back 3

Any structure, usually privately owned, erected on a site to enhance the value of the property (e.g., a building, fence, or driveway).

Front 4

What are the bundle of rights?

Back 4

-possession

-control the property

-enjoyment

-exclusion

-dispose

Front 5

What do you have when you have a Title?

Back 5

- The right to the bundle of rights

-Evidence of that ownership by deed

Front 6

What is the document that the owner uses to transfer title?

Back 6

Deed

Front 7

What is an appurtenance?

Back 7

Something that is transferred with or runs with the land. Example: in ground pool, fence, shed etc.

Front 8

Rights & Terms of Realty

-Applies to river or stream rights

-Own to middle of river if you can't navigate river.

Back 8

Riparian Rights

Front 9

In riparian rights who owns the submerged land in navigable waters?

Back 9

The government

Front 10

Rights & Terms of Realty

-Applies to lake or ocean rights

-Own to high water mark

Back 10

Littoral Rights

Front 11

In states where water is scarce, ownership and use of water are often determined by?

Back 11

The doctrine of prior appropriation

Front 12

Rights & Terms of Realty

Right of tenant to use wood of owner in a lease situation for needs only.

Back 12

Estovers

Front 13

Legal term for plants that do not require annual cultivation is?

Back 13

Fructus Naturales

Front 14

Plants or crops that require annual cultivation are known as?

Back 14

-Emblements

-Fructus Industriales

Front 15

What are trade fixtures?

Back 15

Fixtures owned by tenant that are needed to perform their business in the leased space.

Front 16

Rights & Terms of Realty

Turning realty into personal property is called?

Back 16

Severance

Front 17

Economic characteristics of land:

Back 17

-scarcity

-improvements you can make

-permanence of improvements

-location (situs)

Front 18

Characteristics of real property

-Physical characteristics of land:

Back 18

-immobility

-indestructible

-uniqueness (nonhomogeneity)

Front 19

Three methods of describing real estate:

Back 19

-Metes-and-bounds

-Rectangular government survey

-Lot and block

Front 20

Rights & Terms of Realty

A horizontal plane from which heights above or below sea level are measured with original from NYC harbor.

Back 20

Datum

Front 21

A physical object,either natural or artificial,used by surveyors as a reference point.It may be a concrete block,iron pin,rod,stone marker,or other such thing set in place in order to bear witness to the reference point,or it may be a tree,bridge,river,or fence.

Back 21

Monuments

Front 22

Rights & Terms of Realty

Illegal physical attention on another's property.

Back 22

Encroachment

Front 23

Rights & Terms of Realty

Anything that affects value of realty including a lien.

Back 23

Encumbrances

Front 24

Rights & Terms of Realty

An incomplete, unfinished, interrupted right. For example, a wife may have a right to her husband's property that cannot be completed unless she outlives her husband.

Back 24

Inchoate interest

Front 25

Rights & Terms of Realty

-Regarded as personal property

-The fruit of the crop

Back 25

Emblements

Front 26

Rights & Terms of Realty

Lessor or life estate holder fails to keep realty in the same condition they received.

Back 26

Waste

Front 27

Rights & Terms of Realty

The basis of real property law whereby individuals can hold clear title to real property and have full ownership of rights - however, you must use it or lose it.

Back 27

Allodial Land System

Front 28

Rights & Terms of Realty

Sometimes called squatter's rights;method of acquiring title to real estate when the true owner has neglected to assert his or her own rights for a specified period of time.

Back 28

Adverse Possession

Front 29

Rights & Terms of Realty

Combining periods of continuous use or occupation of real property to establish adverse possession or a prescription easement.

Back 29

Tacking

Front 30

Rights & Terms of Realty

Visible value of realty, something you can touch.

Back 30

Tangible - Corporeal

Front 31

Rights & Terms of Realty

Invisible value of realty, more of a right; something you can't touch.

Back 31

Intangible - Incorporeal

Front 32

Rights & Terms of Realty

Permanent metal plates throughout cities in US to derive elevation heights.

Back 32

Benchmark

Front 33

Rights & Terms of Realty

Addition of soil and rock

Back 33

Alluvium