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23 Cards in this Set

  • Front
  • Back
Center of earth to airspace above (infinity). All 3 rights belong to ownership unless reservation in deed is excluded
Surface / Air / Subsurface
(Subsurface is most important in Texas)
Land and anything permanently affixed to it.
Real property
Land and anything permanently affixed plus the interests, benefits, and rights inherent in the ownership.
Real Estate
Bundle of Rights include:
Possession, Control, Enjoyment, Exclusion, Disposition
Movable objects that do not fit into the definition of real property; conveyed by bill of sale
Personal Property (chattels)
An item of personal property that has been converted to real property by permanent attachment to the land or building is:
An item installed by a commercial tenant thru the term of the lease and removable by the tenat before the expiration of the lease is:
Trade Fixture
(If not removed, the trade fixture b/c real property of the building owner by accession)
Those rights, privileges and improvments that belong to and pass w/ the transfer of real property but may not be a part of the property is
(rights-of-way, water rights, easements and certain property improvments)
Annual plantings or crops such as: corn, wheat, vegetables are considered to be personal property and also known as:
Emblements / Crops / Fructus Industriales
When one severs something from the land: trees, oil, minerals and emblements - it b/c personal property by
Geographic location of a parcel of land is fixed - can never be changed it is:

Physical characteristic
Long-term nature of improvements plus permanence of land tends to create stability in land development

Physical characteristic
All parcels differ geographically and each parcel has its own location it is said to be

Physical characteristic
No two parcels of land are identical its called
Nonhomogeneous = not similar

Physical characteristic
There is substantial amount of unused land, supply in a given location or of a specific quality can be limited is called
Scarcity (supply & demand)

Economic characteristic
Placement of an improvement on a parcel of land affects value and use of neighboring parcels of land

Economic characteristic
Improvements represent a large fixed investment - drainage and sewer - cannot be dismantled or removed economically
Permanence of Investment

Economic characteristic
Refers to people's choices and desires for a given area
Area Preference / Location / Situs

Economic characteristic
Point of Beginning - A boundary must return to the point of beginning so that the land described is fully enclosed. actual distances between monuments (fixed objects)
Metes and Bounds / Distance & Direction
Based on measurements from base lines and principal meridians. Base lines run east and west; principal meridians run north and south.
Rectangular (Government) Survey
six miles square (36 square miles) contains 36 sections is a
a section is a square mile and a square mile contains how many acres
640 acres
One acre is how many sqaure feet
43,560 square feet