Ch 4 Glossary Terms Flashcards
accession
acquisition of property by its joining or union with other property
accretion
gradual additions to land by deposits of sand or soil by bordering waters through natural causes
air rights
the rights vested by a grant of an estate in real property to all or any portion of the space above the ground
alluvion
that increase of soil on a shore or bank of a river as the result of accretion
appurtenance
that which has been added to a property, which becomes an inherent part of the property, and will pass with it when conveyed
avulsion
the sudden removal of land of owner and depositing it on the land of another when a stream changes its channel
bill of sale
a written instrument which passes title of personal property from seller to buyer
bundle of rights
ownership concept in real estate, which embraces the rights of posession, use, enjoyment, and disposition
chattel
personal property which is tangible and movable
chattel mortgage
a personal property mortgage
condemnation
the process by which property of a private owner is taken for public use, with just compensation to the owner under the right of eminent domain
conventional life estate
a life estate created by grant, by reservation, or by will
defeasible fee
s
devise
a gift of real or personal property by will
emblement
trees or crops that are cultivated annually, the rights of a tenant to harvest the annual crop even after his tenancy has ended
eminent domain
the right of a government to take private property for public use upon the payment of just compensation
erosion
the gradual wearing away of land due to natural causes of wind and water
escheat
the reverting of property to the state when heirs capable of inheriting are lacking, or the property is abandoned
estate
the degree, quantity, nature, and extent of interest a person has in real property
