Real Estate

Front 1

Air rights

Back 1

The right to the space above a piece of property

Front 2

Ad Valorem Taxation

Back 2

A tax based according to valuation taxes are they found the value of the property being taxed

Front 3

Annexation

Back 3

The process of changing personal property to real estate

Front 4

Board of Appeals

Back 4

Local city or town committee that rules on matters of zoning variances.

Front 5

Building codes

Back 5

A set of rules established by state municipal government to regulate standards in the construction trades

Front 6

Bundle of rights

Back 6

A concept used to describe all of the rights that an owner has in the property owned

Hint 6

DEEP C Disposition
Enjoyment
Exclusion
Possession

Control

Front 7

Chattel

Back 7

An article of tangible personal property

Front 8

Chattel Personal

Back 8

A Chattel that is movable

Hint 8

Furniture; table chair couch

Front 9

Chattel Real

Back 9

A Chattel that is associated with a piece of real estate

Hint 9

A lease

Front 10

Corporeal

Back 10

Interest in property that is tangible such as building or trees as opposed to intangible such as easement or lease

Front 11

Emblements

Back 11

Growing crops that are produced annually through Labor and Industry . Considered personal property even before harvest. Also known as Fructus Industriales.

Front 12

Eminent Domain

Back 12

The right of the government ( federal state or municipal) to take title to private property for the common good the process of condemnation

Front 13

Escheat

Back 13

Process by which property reverse to the state when no will or heirs exist or when the property is abandoned

Front 14

Fixture

Back 14

An article of personal property that has become real property by being attached to the realty

Hint 14

Light fixture chandelier toilet door

Front 15

Heterogeneity

Back 15

Physical characteristics of being unique. Used in reference to real property. There is no exact duplicate

Front 16

Improvements

Back 16

Additions to real property that are intended to increase value more than maintenance or repair

Hint 16

Adding a deck replacing tub with jet tub

Front 17

Incorporeal

Back 17

Intangible or non-possessory real estate. No physical substance

Front 18

Intangible

Back 18

Having no physical or material being.

Hint 18

Right of way

Front 19

Intestate

Back 19

Property owner dies without a will or with a will that is defective. Property changes ownership through the state laws of descent.

Front 20

Location:

Back 20

Economic characteristics a real property that indicates the value is affected by which exact site real property occupies including abutters neighborhood and zoning

Front 21

Long term investment

Back 21

Economic characteristics of real property that indicates real property will last a long time, more than a mortgage, off and more than a lifetime as opposed to a short

Hint 21

Stocks bonds

Front 22

Mineral rights

Back 22

Subsurface rights to real property. May be granted separately from surface rights as in rights to oil gas minerals

Front 23

Possession rights

Back 23

The right to occupy real property. Often granted separately from other rights as in the case of a lease

Front 24

Personal property

Back 24

All property that is not real property. An article that is removable and not attached to the realty

Hint 24

picture frames

Front 25

Property

Back 25

The rights and that one individual has anything that is owned may be real or personal

Hint 25

Known as the bundle of rights

Front 26

Real estate

Back 26

Land or whatever is attached to the land. Also known as real property or Realty

Front 27

Real property

Back 27

Same as real estate

Front 28

Realty

Back 28

Same as real estate

Front 29

Scarcity

Back 29

An appraisal principle that a reduction in the availability or supply of a good will increases in value

Front 30

Severance

Back 30

The process of changing real property and personal property and

Front 31

Situs

Back 31

Refers to characteristics of the location

Front 32

Subsurface rights

Back 32

Rights to real property that are beneath the surface including mineral rights, water rights an easement such as underground utilities

Hint 32

Gas company water company

Front 33

Surface rights

Back 33

Rights to real property on the surface of the property. Not including rights above ( air right) or below (minerals and other subsurface rights)

Front 34

Tangible

Back 34

Having physical or material being such as height, width, mass, weight

Hint 34

An opposite to intangible such as an easement

Front 35

Trade fixture

Back 35

A fixture attached to real property as a part of a tenant's trade or business can be removed by the tenant at the end of a lease

Hint 35

Such as barber chairs restaurant tables

Front 36

Variance

Back 36

Permission to build, convert or otherwise use a parcel of property in violation of the zoning ordinance

Front 37

Zoning

Back 37

An exercise of police power whereby a city or town limits property rights by determining what can be built within certain sections of a municipality

Front 38

Police power

Back 38

The right of the government to enforce laws, statues and regulations for the public's welfare. This includes building codes and zoning ordinances