Unit 2 Real Property & Law Flashcards Preview

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Flashcards in Unit 2 Real Property & Law Deck (21)
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1
Q

Land is defined as

A

The earths surface extending downward to the center of the earth and upward to infinity

2
Q

Real estate is defined as

A

Land plus all human made improvements to the land that are permanently attached

3
Q

Real property is defined as

A

The interests, benefits and rights that are automatically include it in the ownership of real estate.

4
Q

The right of possession, right to control property, right to enjoyment, right to exclusion and the right of disposition is best described as

A

Bundle of legal rights

5
Q

An Appurtenance (runs with the land) is best defined as

A

A right or privilege associate it with the property although not necessarily physically part of the property.

Example; parking spaces, water rights and other improvements

6
Q

Surface rights or defined as

A

Ownership rights and a parcel of real estate that are limited to the surface of the earth.

7
Q

Air rights are defined as

A

The right to use the space above the earth. It may be soldor least independently but limited by law.

8
Q

Water rights are defined as

A

Rights held by owners of the land adjacent to rivers, lakes or oceans and are restrictions on the Rights of land ownership.

9
Q

Riparian rights are defined as

A

Common law rights granted to owners of land along the course of a river stream or similar flowing body of water is called riparian rights.

10
Q

Littoral Right is defined as

A

Owners whose land borders commercially navigable lakes, seas and oceans.

11
Q

Accretion is defined as

A

Increases in land resulting from the deposit of soil by the waters action.

12
Q

Erosion is defined as

A

The gradual and sometimes Imperceptible wearing away of land by natural forces such as wind rain and flowing water.

13
Q

Avulsion is defined as

A

The sudden removal of soil by acts of nature.

Example: earthquake, mudslide, hurricane and other acts of God.

14
Q

What is the Definition of personal property (sometimes called personality)

A

Is all the property that can be around and does not fit the definition of real property.

Personal property is movable.

15
Q

Chattels is also called

A

Personal property

16
Q

Fructus Naturales ( fruits of nature) is defined as

A

A legal term for plants that do not require annual cultivation such as trees and shrubbery.

17
Q

Emblements or Fructus Industriales (Fruits of industry) is defined as

A

Legally known as plants or crops that require annual cultivation.

18
Q

A fixture is defined as

A

Personal property that has been attached to the land or building, by law it becomes part of real property.

Example: elevators, heating systems, radiators, kitchen cabinets, light fixtures, and plumbing.

19
Q

Trade fixtures are defined as

A

Usually owned and installed by a tenant for the tenant use. They are removable and associate it with a trade.

Example: shelves placed in a commercial building

20
Q

What are the three physical Characteristics of land?

A

Immobility, and indestructibility and uniqueness

21
Q

Uniqueness is defined as no two parcels of property that are exactly the same or in the same location.

Uniqueness is also known as

A

Nonhomogeneity