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15 Cards in this Set

  • Front
  • Back
Emblements

13
Cultivated crops that could be harvested annualy. The crops belong to the seller and they can re-enter the property to harvested. If planted by a tenant the crop belongs to the tennant.
Horizontal Division Sale

7
Right to own & use the surface property. A separate sale or divided from the sale os fub-surface rights. ex: minerals
Land Description for a precise deed

13
Metes or bounds or compass with directions and distance. Also called a rectangfle or government survey. Recorded plat
Accretion & Reliction

7
Accretion-land increases because of silt deposits and the landowner acquires title to the new soil. also called Alluvium

Reliction or Dereliction is when a navigatable body of water recedes and creates new land.
Real Estate
Includes land rights and improvements. Land is the surface, subsurface and air. Improvements will increase its value, use & enjoyment.
Non-Conforming use
An existing use of a building or land that does not conform to a new zoning law. Usually though, that use may not be expanded. ex: If a business closes then the new business must conform to the zoning laws.
Zoning Laws
Carry out the master development plan. 5 Land use categories are:
residential
commercial
industrial
agricultural
mixed

buffer zone when 2 pieces of land are incompatible so buffer zone is created
Freehold Estates

Key characteristics

65
1. Owner has the right to possess the property
2. Indeterminate duration on ownership
3. May or will receive title at some point in time
2 types of Estates
Freehold & Leasehold
Escheat

64
Property that reverts to the state (gov) ownership because the property has been abandoned or a person dies inestate and with no heirs.
Police Power

63
Regulates how private owners may use their property. To protect public health, safety & general welfare.
Condemnation

63
The process the government uses under eminent domain to acquire land. The court pays the fair market value that the court establishes when the property is condemned.
Eminent Domain
The right for the government to take private property for a public use & then pay just compensation. Government can mean state, cities, counties, school districts & private companies who are providing a public service. ex: RR or power companies
Property Taxes
2 types

60
1. General property taxes or AD VALOREM is at assessed value.

2. Special Assessments or special improvements such as public improvements. Installing street lights so taxes go up.

Both forms of taxes are due 1 Feb. & 15 June or in full on 30 April. Redemption period is 3 years on back taxes in CO.
Government Rights
P E T E
Police Power
Eminent Domain
Taxation-general & special
Escheat