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NATIONAL TEST CHAP 1-8 > chapter 1 > Flashcards

chapter 1 Flashcards

national section (59 cards)

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1
Q

appurtenance

A

often used to describe rights, privileges, or improvements that belong to and pass with the land

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2
Q

improvements

A

are man’s additions to the land such as building and lanscaping

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3
Q

real property also includes

A

accessories and fixtures

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4
Q

accessories

A

may or may not be installed, such items as stoves, and pool equipment, without A/C unit, remote control devices, key and more

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5
Q

fixtures

A

is an item that was personal property; however, it has been attached or installed in such a way that it has become real property.

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6
Q

annexation

A

the process of attaching a fixture

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7
Q

severed / severance

A

the process of real property becoming personal. the fixture is installed and once again becomes personal property.

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8
Q

what are fixtures called in commercial leasing

A

trade fixtures

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9
Q

emblements

A

are crops cultivated annually. Even though they are attached to the ground, they are considered the personal property of the farmer who cultivated them.

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10
Q

examples of emblements

A
  1. corn
  2. wheat
  3. barley
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11
Q

characteristics of real property
land physical characteristics

A
  1. nonhomogeneity
  2. immobility
  3. indestructibility
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12
Q

Characteristics of real property
land economic characteristics

A
  1. scarcity
  2. modification
  3. fixity
  4. situs
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13
Q

nonhomogeneity

A

No two pieces are exactly alike. Each piece of land is unique

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14
Q

immobility

A

land cannot be moved. land has a fixed location

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15
Q

indestructibility

A

durability- it will always be there ( cannot be destroyed)

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16
Q

scarcity

A

in short supply where demand is great. is usually based on geographic consideration

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17
Q

modification

A

improvements made by man greatly influences land use and value

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18
Q

fixity

A

land and buildings and other improvements to land are considered fixed or permanent investments

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19
Q

situs

A

location preference, or locations from an economic rather than geographic standpoint
(this can change over time as people change)

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20
Q

legal description

A

is created and determined by a surveyor. it is a necessary part of a contract or conveyance ( deed, listing, sales contract, etc) ( not needed for a lease)

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21
Q

methods of land description are legal

A
  1. metes and bounds
  2. lot, block and subdivision
  3. Rectangle survey system/ government survey system
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22
Q

metes and bounds

A

use terminal points and always have a p.o.b. (point of beginning). This method uses compass directions, degrees, and minutes. The point of beginning is also the end (sometimes called the termination point) so that the land described is completely defined.

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23
Q

lot, block, and subdivision.

A

are derived from a recorded map called a plat. This is the most common description used in residential listing agreements and commercial

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24
Q

public control- governmental rights in land

Study These Flashcards
A
  1. police power
  2. eminent domain
  3. taxation
  4. escheat
25
police power
is the power given to a municipality to regulate and control the character and use property for the health, safety, and general welfare of the public.
26
zoning
is the most common example of of police power. Zoning regulations are located laws to control land use. For example, [R1 zoning] means residential, single-famiy
27
non-conforming use
A change in zoning may result in a non-conforming use.
28
variance
If a property violates zoning, you may request a variance. A variance may also be requested before construction.
29
conditional or special use
can be granted by a zoning committee or deed restriction (HOA). This use would benefit the neighborhood, like a school within a residential subdivision.
30
PUD
(planned unit development). A PUD zone allows for a higher population density with houses clustered together.
31
characteristics of a PUD
1. the developer will provide a green space for residents of the PUD 2. a non-profit HOA will maintain the green space. 3. residents will pay an extra to the HOA for the maintenance of the green space.
32
setback
is the space between the lot line and the building line.
33
Buffer zone
is an area of land separating one land use from another, such as residential from commercial. The buffer zone is a transitional use
34
eminant domain
is the right of the government to take private property for public use through the action of condemnation. This is the only time the government must compensate property owners.
35
inverse condemnation
when an individual forces the government to buy his or her property
36
taxation
Property taxes are the highest priority lien on real property. property taxes are ad valorem taxes, or according to value. unpaid taxes created an automatic lien on property.
37
escheat
property reverts to the state when someone dies, leaving no will and no heirs or kindred. escheat can also be used if property is abandoned. The purpose of escheat is to ensure that no land remains unowned.
38
police power
provides the government with the right to establish building codes. new construction frequently requires a certificate of occupancy to be issued
39
CC&R stands for
1. Deed covenants 2. conditions 3. restrictions
40
CC&R means
are commonly referred to as deed restrictions or deed covenants. HOA (homeowner association) or POA ( property owner association) regulations are like deed restrictions but usually apply to condominium complexes and subdivisions
41
deed restriction and zoning
In some cases, both can exist. If this is true, although both must be disclosed, whichever is the most restrictive or limiting must be obeyed.
42
encumbrance
is a limit on a property or a limit on a property's owner's rights that may or not also be a cloud on the title
43
reservation
(previous owner keeps part of land) imposed by the grantor withholds title to a part of the land described in ht deed
44
easement
allows limited use or enjoyment of another's land. It is a right in land and should be created in writing and recorded. It is used without possession
45
easements can be created by
1. agreement 2. reservation 3. Limitation or prescription 4. Necessity 5. condemnation 6. express / implied
46
express / implied
express mean ( written or verbal) and implied means(by actions or evidence). are usually as part of sale
47
agreement
usually separate from a sale
48
reservation
a seller keeps an easement at the time of sale
49
limintation or prescription
acquired by constant use without permission (usually at least 10 years)
50
necessity
grants by the courts
51
condemnation
taken by the government under eminent domain. the government will take an easement for itself, the utilities or the railroads - any project that benefits the public.
52
easements can be terminated by
1. merger 2. release 3. abandonment
53
merger
two land merger together
54
release
a recorded document used to terminate a right or claim
55
abandonment
an action that terminates rights
56
dominant and servient estates
if you have two parcels of land with a road across one parcel, the owner who crosses over the other's land is dominant.the property with the road is servient to the domain estate.
57
easement in gross
belongs to a person or corporation. an example utility easement. No matter who owns the land, the easement still belongs to the Utility company
58
adverse possession
(squatter's rights) occurs when property is acquired from the rightful owner through the statute limitations.
59
lis pendens
is a recorded notice filed against a specific property, meaning that some form of lawsuit has been filed but not yet resolved in court.

NATIONAL TEST CHAP 1-8 (8 decks)

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