Brainscape's Knowledge GenomeTM

Browse over 1 million classes created by top students, professors, publishers, and experts.


See full index

GA Real Estate Terms > Chapter 1 > Flashcards

Chapter 1 Flashcards

1
Q

Artificial Monuments

A

Man-made objects such as streets, fences, iron pins, concrete post, etc.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
2
Q

Natural Monuments

A

Trees, streams, rocks, etc.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
3
Q

Metes and Bounds

A

A method of legally describing land by measuring directions and distances of its boundary lines.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
4
Q

Plat of Survey

A

A map or drawing that shows the location and boundaries of a land parcel, and in some cases, how the land is subdivided into lots. Also called a Plot Map

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
5
Q

Spot Survey

A

The process of locating the exact boundaries, shape and area of a parcel of land.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
6
Q

Economic Life

A

The period of time over which a property is estimated to be profitable or utilized. Also called Useful Life.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
7
Q

Situs

A

Location; refers to people’s preference for a given location. Area preference.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
8
Q

Non-Homogeneity

A

A characteristic of land which holds that no two parcels are exactly alike because each parcel has its own unique location.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
9
Q

Accession

A

The acquisition of title by the owner of real property to those things attached to the property by others, such as tenants or trespassers or by nature.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
10
Q

Trade Fixture

A

An item of personal property attached to the land or building leased by a tenant who uses the item in a trade or business.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
11
Q

Severance

A

To remove something from the land such as minerals or timber.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
12
Q

Air Rights

A

The right to use and enjoy the air space above a parcel of land. Such rights may be leased or sold separately from the land.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
13
Q

Air Lot

A

A designated air space over a parcel of land. In condos, each individual unit occupies a separate air lot.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
14
Q

Law of Capture

A

This law allows a well drilled on one property to extract oil and gas from under adjoining properties.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
15
Q

Right of Lateral Support

A

The right which protects the natural support of adjacent land in mining operations to extract minerals from below the surface of the earth.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
16
Q

Mineral Rights

A

A land owners legal interest in minerals below the surface of his land. Such rights are considered to be appurtenant to the land and may be sold or leased separately.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
17
Q

Littoral Rights

A

A landowners lawful claim to use and enjoy the water of a large lake or ocean bordering the owned property.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
18
Q

Navigable Waters

A

A waterway open to the public for commercial boat traffic.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
19
Q

Correlative Rights

A

The doctrine of law which allows riparian owners in certain states to use only a reasonable share of the water during periods of drought.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
20
Q

Water Table

A

The level at which percolating water is found below the earth’s surface.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
21
Q

Percolating Water

A

Underground water that is not confined to a specific waterway, channel or stream.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
22
Q

Land

A

An area which starts at the center of the earth, passes through the earth’s surface and extends into space

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
23
Q

Bundle of Rights

A

All of the rights a person can have in real property. Included in the bundle are the rights of possession, control, enjoyment and disposition.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
24
Q

Tenements

A

Things permanently attached to the land, physically or legally

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
25
Q

Fructus Naturales

A

Growing things which require NO annual cultivation

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
26
Q

Fructus Industriales

A

Crops that are planted and harvested each year

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
27
Q

Point of Beginning

A

The starting point at one corner of a parcel of land described in a metes and bound legal description

28
Q

Bench Mark

A

A permanent reference point of known location used by surveyors. A bench mark may be a point established by a government survey team or a fixed monument such as a road right of way.

29
Q

Call

A

The compass direction and distance for each boundary line

30
Q

Closure

A

The metes and bounds legal description must return to the point of beginning or the description is incomplete

31
Q

Rectangular Survey System

A

A method of legally describing the surface of the land based upon a grid system formed by principal meridians, baselines, range lines, and township lines. Also, known as the Government Survey System

32
Q

Principal Meridian

A

One of the north-south reference lines used in the rectangular survey to locate land

33
Q

Baseline

A

Certain reference lines which run east and west; used in the rectangular survey system to locate land

34
Q

Township

A

A parcel of land in the rectangular survey system that is six miles square

35
Q

Topographic Map

A

A map that shows the elevation of the earth’s surface. Also known as Contour Map

36
Q

Section

A

A parcel of land in the rectangular survey system that is one mile square and contains six hundred forty acres (640)

37
Q

Datum

A

A point of surface of known location from which heights and depths are measured. The basic point from which vertical land (air rights and mineral rights) is described

38
Q

Recorded Plat

A

A plat or map showing the location and boundaries of individual parcels of land that is filed in the public records in the county where the property is located

39
Q

Range (line)

A

A six mile wide strip of land running north-south in the rectangular survey system

40
Q

Bearings

A

Are shown in degrees, minutes and seconds

41
Q

Personal Property

A

Anything of a movable nature capable of being owned that is not considered real property. Also known as Personality or Chattel

42
Q

Real Estate

A

Land and attachments on it plus the rights to own and use them. Also known as Real Estate or Realty

43
Q

Appurtenance

A

Anything that may be used with the land for its benefit and goes to the new owner when ownership of the land is transferred. Mineral rights, air rights, water rights, easements, improvements and natural attachments are appurtenant to the land. Also known as Run with the Land

44
Q

Improvements

A

Any permanent, man-made attachment to the land, such as buildings, fences, roads or pipelines. Also known as Arterial Attachment

45
Q

Improvement

A

Artificial attachments including buildings, fences, driveways, pipelines, swimming pools and even mobile homes if attached to the land

46
Q

Water Rights

A

A landowners right to use and enjoy water adjacent to, underneath, or on the land

47
Q

Riparian Rights

A

A landowner’s right to use and enjoy the water from a river, stream or lake which adjoins the owned land.

48
Q

Prior Appropriation

A

A doctrine of law relating to riparian water rights used by states that typically experience periods of drought. The right to use riparian water is secured by permit. During periods of drought the earlier permits establish priority in using adjacent water.

49
Q

Fixture

A

An item that was once personal property but has become real property because of the manner in which it was attached to the land or it’s improvements.

50
Q

M.A.R.I.A

A 
Modification
Attachment 
Relationship of the Parties
Intentions of the Annexing Party
Agreement

Fixture test: Five tests that can help make the matter clear

51
Q

Acre

A

A measure of land area equal to 43,560 square feet

52
Q

Bill of Sale

A

A document which conveys ownership to personal property

53
Q

Chattel

A

Personal property

54
Q

Constructive Severance

A

The transfer to someone other than the owner of the land the rights to remove attachments such as timber, or buildings, or the right to remove minerals.

55
Q

Contour Map

A

Also known Topography Map

56
Q

Contour

A

Also called topography

57
Q

Emblements

A

Also called Fructus Industriales

58
Q

Government Survey

A

Also known as Rectangular Survey

59
Q

Legal Description

A

A description of land legally sufficient to distinguish it from all other parcels.

60
Q

Meridians

A

Certain reference lines which run north and south used in the rectangular survey system to locate land. The north-south line on a compass.

61
Q

Monument

A

A fixed point or object used to denote the end point of a boundary line in a metes and bounds description.

62
Q

Portable Water

A

Water which is pure enough to drink.

63
Q

Property

A

A specific object owned plus the rights of ownership.

64
Q

Real Property

A

Also called Real Estate

65
Q

Subdivision

A

A parcel of land divided into a number of smaller lots, generally for the purpose of building new structures.

66
Q

Topography

A

The nature or shape of the earth’s surface, such as hills, valleys, level, or rolling. Also called Contour

67
Q

Trade Fixture

A

An item of personal property attached to the land or building leased by a tenant who uses the item in a trade or business.

GA Real Estate Terms (11 decks)

Brainscape helps you reach your goals faster, through stronger study habits.
© 2024 Bold Learning Solutions. Terms and Conditions