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27 Cards in this Set
- Front
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Accretion |
An increase of land cause by a gradual deposit of solid material called alluvion. |
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Air rights |
The rights to use the air above the land. May be sold or leased independently of the land itself. E.g. MetLife building next to grand central station. |
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Alluvion |
Solid material that is gradually deposited by a contiguous body of water. |
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Avulsion |
When a stream were to suddenly change its course. Property line would always remain the same. |
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Bill of sale |
A written instrument given to transfer title of personal property. |
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Bundle of rights |
Real property ownership. When a person purchased a parcel of real estate, he or she is buying right by previous owner. Right of possession, right to use in a legal manner, right of enjoyment, right of exclusion, right of disposition and alienation. |
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Chattels |
Tangible personal property. Clothes, furniture, etc. |
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Corporeal |
Tangible assets like buildings and trees. |
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Deed |
Real property is transferred. |
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Devise |
Leave property by a will. |
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Emblements |
Considered to be personal propery. Crops that are produced annually through labor and industry. Fructus industriales. |
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Erosion |
The opposite of accretion. The gradual wearing away of land by water and general weather conditions. |
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Fixture |
An item of personal property that has been converted to real property. |
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Hereditament |
Anything that can be inherited |
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Improvement |
Any structue erected on a site to enhance the value of the property. Buildings, fences, driveways, curbs, sidewalks, or sewers. |
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Incorporeal |
Intagible assets like views or rights. |
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Land |
Refers to the surface of the earth, including water and anything attached to it by nature. Includes minerals below the surface to the airspace above was the surface. |
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Littoral rights |
Refers to lakes and other large bodies of water affected by tides |
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Riparian rights |
Refers to land bordering or traversing by a stream or waterway. Of a stream is identified as not navigable on a federal map survey, it's bed is owned by the owner is owners of adjoining land. |
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Mineral rights |
Subsurface rights that can be sold or retained separately. |
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Parcel |
A specific piece of real estate, land. |
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Personal property, personalty |
All property that is not real property. |
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Real estate |
A portion of the earhs surface extending downward to the center of the earth and infinitely upward into space and all things permanently attached, whether by nature or by a person. |
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Real property, realty |
Real estate plus all the interests, benefits, and rights inherent in ownership. Also referred to as real estate. |
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Reliction |
Creation of dry land by the gradual withdrawal of water from the land by the lowering of the surface level. |
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Subsurface rights |
Rights to natural resources below the surface of the earth. May be owned separately. |
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Trade fixture |
Articles installed by a tenant under the terms of the lease and removable by the tenant before the lease expires. |
