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18 Cards in this Set
- Front
- Back
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Broker
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a businessman who buys or sells for another in exchange for a commission.
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Air rights
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rights for above ground
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Appurtenance
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a right or privilege associated with property.
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Bundle of legal right-right of:
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possession, to control compliant to laws, enjoyment, exclusion, disposition. PROCEED-traditional ownership
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Chattel
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-moveable property
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Emblements-
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annual crops personal prop.
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Fixture-
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personal prop. So affixed becomes real prop.
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Improvement-
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something attached that’s artificial to make better →FENCE
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Land
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- earths surface down to center + up to infinity +naturally attached things ie: rocks, trees.
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Personal property
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- moveable property
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Real estate
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- land @ or below earths surface and naturally + artificially attached things
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Real property
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- combination of land + real estate
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Severance
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- changing real property to personal property
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Subsurface rights
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- below surface rights
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Surface rights
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- rights for things on surface
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Water rights
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- rights landowner has w/ water
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Multiperil policies
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- offers the prop. Manager an insurance package that includes standard types o commercial coverage, such as fire, hazard, public liabilities, and casualty.
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Surety bonds
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- cover an owner against financial losses resulting from an employee’s criminal acts or negligence while performing assigned duties.
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