Appraisal - Valuation of Partial Interest Flashcards Preview

Appraisal > Appraisal - Valuation of Partial Interest > Flashcards

Flashcards in Appraisal - Valuation of Partial Interest Deck (27):
1

Onwership

no effect on the market rent

2

Excess rent

contract rent > market rent, known as the amount over and above the market rent

3

Water - Riparian Right

Flowing water right = stream/river

4

Water - Littoral Right

non-flowing water right = lake, sea,ocean

5

Water - Accretion

新地沖擊層
land is increased because of water depositing additional soil gradually

6

Water - Alluvion

洪水沖成新地
"to wash against" shoreline & deposit soil gradually creating firm ground

7

Water - Avulsion

自然災害
a sudden loss of land or soil due to sudden natural act (earth quack, river flow)

8

Water - Reliction

乾地
When water line recedes, leaves exposed land permanently dry: Receding=Reliction

9

Zoning - Buffer zone

a separate strip of land that separates parcels
e.g. residential (buffer) from commercial shop

10

Zoning - Conditional use

church, school, clinic, day care

11

Zoning - Down zoning

from high-rise apt to single family house

12

Non-Conforming Use

grand fathered

13

PUD

large zoned development that includes areas of various uses
e.g. residential, public use, commercial

14

Spot zoning

changes zoning for just a small area/lot in contrast to everything else around it

15

Variance

special permit, zoning requirement waived

16

Deeds - Warranty Deed

Most Protection
Grantor guarantees clear title

17

Deeds - Quitclaim Deed

transfer or "quit" any interest in a property

18

Deeds - Special Warranty Deed

grantor warrants that the property was not encumbered during his ownership & will defend the tile against defects if so

19

Interstate

Die without will

20

Testate

Die with will

21

Freehold Estate

Fee Simple Estate
LIfe Estate

22

Freehold Estate :
Fee Simple Estate

Inheritable
Fee Simple Absolute (Most complete)
Fee Simple Defeasible (Special Event)
Leased Fee Interest ( Landlord)

23

Freehold Estate :
Life Estate

Non-inhertable

24

Leasehold Estate

Estate for years
Estate from Period to Period
Estate at Will
Estate at Sufferance

25

Joint Tenant
Value based on..

life expectancy of the last surviving joint tenant

26

Reversion

Benefits from the sale of property of lease expires

27

Utility Easement
Which approach?

Sales comp