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20 Cards in this Set

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ASSESSION
acquiring title to additions or improvements to real property as a result of the annexation of fixtures or accretion of alluvial deposits along the banks of streams.
AIR RIGHTS
the rights to use the air above the land, provided the rights have not been preempted by law., May be sold or leased independently.
ANNEXATION
converting personal property into real property.

ex: cement, stones and sand=sidewalk
APPURTENANCE
a right or privilege associated with the property, although not neccessarily a part of it.
BUNDLE OF RIGHTS
concept pf land ownership that includes ownership of all legal rights to the land.

ex:possession, control, enjoyment, exclusion, and disposition.
CHATTEL
items of personal property.

ex: chairs, tables, clothing, money, bonds, and bank accounts.
EMBLEMENTS
annual plantings or crops of wheat, corn, vegetables and fruits.
FIXTURE
is personal property that has been so affixed to land or a building that, by law, it becomes part of the real estate.
HETEROGENEITY
is the uniqueness of land.
LAND
is defined as the earth's surface extending downward to the center of the earth and upward to infinity, including permanent natural objects such as trees and water
IMPROVEMENT
any artifical thing attached to land, such as a building or a fence.
PERSONAL PROPERTY
all property that does not fit the definitive of real property
REAL ESTATE
land at, above and below the earth's surface, plus all things permanently attached to it, whether natural or artifical.
REAL PROPERTY
the interests, benefits and rights that are automatically included in the ownership of land and real estate.
SEVERANCE
changing an item of real estate to personal property by detaching it from the land; for example, cutting down a tree.
SITUS
area preference
SUBSURFACE RIGHTS
rights to the natural resources lying below the earth's surface
SURFACE RIGHTS
right to use the surface of the earth
TRADE FIXURE
an article owned by a tenant and attached to a rented space or building or used in conducting a business.
WATER RIGHTS
are special common-law rights held by owners of land adjacent to rivers, lakes, or oceans and are restrictions on the rights of land ownership.