Real Estate Pre Licensing

Front 1

Real property

Back 1

The land plus things permanently attached.

Front 2

Real estate

Back 2

Any interest in land

Front 3

Land

Back 3

The surface of Earth extending downward to the Centre of the earth and upward to Infinity

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Personal property

Back 4

All property that does not fit into the definition of real property. Personalty or chattel

Front 5

Chattel real

Back 5

Personal property interest

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Emblements

Back 6

Fractus Industrials. Annual growing crops.

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Improvements

Back 7

Something added to property that increases its value.

Front 8

Appurtenances

Back 8

Anything that belongs to the real property. Building, easement, water rights Etc.

Front 9

Fixtures

Back 9

Personal property that has been permanently attached to real estate. Intense period method of attachment. Use. Agreement of parties.

Front 10

Trade fixtures

Back 10

Fixtures used in a business. Chattel fixtures.

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Amenities

Back 11

Tangible and intangible that add value to property.

Front 12

Real property rights

Back 12

Mineral rights. Water rights. Air rights

Front 13

Littoral rights

Back 13

Ownership of property along large lakes or oceans

Front 14

Riparian rights

Back 14

Ownership of property along bodies of river that flow.

Front 15

Reliction

Back 15

Gaining title to land by the receding of water

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Erosion

Back 16

Gradual wearing away of land

Front 17

Accretion

Back 17

Building up from erosion

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Alluvion

Back 18

Actual material involved in the erosion and creation process

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Contiguous

Back 19

Next to

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Avulsion

Back 20

Sudden tearing away of land. Earthquake or mudslide

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Air rights

Back 21

Are ownership above land. Government air zoning rights superseded our rights

Front 22

Bundle of legal rights

Back 22

Possession, control, enjoyment, disposition.

Front 23

Metes and Bounds

Back 23

Measurements and directions. Monuments are fixed objects used to establish real estate boundaries

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Lot and block system

Back 24

Used in subdivisions

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Estate

Back 25

The degree quantity nature and extent of ownership in real property. One must in some way possess the real property.

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Leasehold estate

Back 26

Possession of real property by lease

Front 27

Freehold estate

Back 27

Possession buy ownership. Actual ownership and unpredictable duration

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Tenancy

Back 28

Created by ownership, holding title, or at least that gives possession to property

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Interest

Back 29

Rights, Powers, privileges, immunities

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Fee

Back 30

The degree of ownership in real property

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Title

Back 31

Ownership of land.

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Fee simple estate

Back 32

Owning real property while the length of ownership is unpredictable

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Fee simple defeasible

Back 33

An estate that could be defeated. Fee simple determinable, fee simple subject to a condition subsequent, fee simple subject to an executory interest.

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Fee simple determinable

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Ownership that is predetermined how you must use the property. Ownership could come to an end should the use of property change

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Fee simple subject to a condition subsequent

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Not predetermined on how you must use the property. It only has certain restrictions that prohibit future actions. Must go to court.

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Fee simple subject to executory interest

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An estate where upon the happening of a designated event the title is automatically transferred to a third party.

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Ordinary Life Estates

Back 37

Limited in the duration to the life of the owner. Can do anything except cause waste.

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Life estate Pur autre vie

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An estate based on the life of some other person

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Revisionary interest

Back 39

Future interest in real estate created at the same time and with the same instrument as another estate.

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Remainder interest

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Deeding the property to someone and if that person dies it automatically goes to a third party

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Tenancy for years

Back 41

Any lease with a definite period of time

Front 42

Periodic tenancy

Back 42

Month to month lease or week-to-week lease

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Tenancy at will

Back 43

Gives tenant right to possess property for unspecified or uncertain duration

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Tenancy at sufferance

Back 44

Tenant holding possession of property without consent of landlord

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Tenancy in severalty

Back 45

Sole ownership

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Tenancy in common

Back 46

Co-ownership where each owner has complete possession in the property

Front 47

Joint tenancy

Back 47

Owned by two or more persons with the right of survivorship. The deed must specifically State joint tenants or right of survivorship

Front 48

Utilities required for joint tenancy

Back 48

Possession interest time and title