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28 Cards in this Set
- Front
- Back
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Accession
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Acquiring title to a fixture left behind by a tenant
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Air rights
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right to use the air space above the property
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Bundle of legal rights
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ownership of all legal rights including possession control, disposition, and enjoyment
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Chattel
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Personal property
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Fixture
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an item of personal property that is attached and becomes realestate
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land
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earths surface down to the center and above to infinity
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personal property
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items that does not fit the definition of real property; movable objects, chattles
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real estate
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land plus man made improvements
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real property
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interests benefits and rights inherent in the ownership of realestate
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severance
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changing real property into personal property. Ex: Tree to log
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Subsurface rights
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ownership of minerals etc. below the surface
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surface rights
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ownership of surface area, does not include air/minerals
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trade fixtures
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article installed by a business tenant, that is removable. considered personal property
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One township contains
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36 sections
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One section equals
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one square mile
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one square mile equals
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640 acres
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one acre equals
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43,560 square feet
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air lot
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designated airspace above a lot
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base line
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imaginary line East and West perpendicular to a principle Meridian
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Benchmark
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Permanent reference point for elevation
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Correction lines
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every 4th township line (24 miles) correction for earths curvature
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datum
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0 elevation. a horizontal plane from which heights and depths are measured
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guide meridians
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every 4th range line a correction for earth curvature. North and South
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Government Check
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area bounded by two guide meridians and two correction lines
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Government lots
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Fractional section of government survey system
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legal description
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a description of specific parcel of real estate complete enough for an independent surveyor to identify
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lot and block system
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method of describing property that identifies a parcel of land by reference to a lot and block numbers within a subdivision as specified on a recorded subdivision plat
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Metes and bounds
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A legal description of a parcel of land that begins at a well marked point that follows the boundaries (landmarks and monuments) using directions and distances around the tract back to the place of beginning
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