CHAPTER 1 LAND CHARACTERISTICS AND LEGAL DESCRIPTIONS

Question 1

___- defined as the materials of the earth, whether soil, rock, or other substances, and includes free or unoccupied space for an indefinite distance upwards as well as downwards

Answer 1

Land

Question 2

___ ___= land + improvements. houses/garages/fences

Answer 2

real estate

Question 3

___ ___- defined as land, things affixed to land, appurtenances, plus the bundle of rights.

= real estate + bundle of rights

Answer 3

real property

Question 4

What do bundle of rights include? 
1 right to \_\_\_ 
2. right to \_\_\_\_ 
3. right to \_\_\_\_ 
4. right to \_\_\_\_
5. right to \_\_\_

Answer 4

posession
dispose
use
encumber
quiet enjoyment

Question 5

Right of ___- the owner exclusively owns the property. The owner can opt to share their right of possession to the property with another person or other legal entity.

Answer 5

possession

Question 6

right to ___- the owner has the right to sell or transfer all or part of the property.

Answer 6

dispose

Question 7

right to __- the owner can use the property in any legal manner

Answer 7

use

Question 8

right to ___- the owner may place a lien on the property. for example, the owner can take out a mortgage on the property.

Answer 8

encumber

Question 9

right of __ __- the owner can possess and use the property in peace without outside disturbances

Answer 9

quiet enjoyment.

Question 10

the rights to the reasonable use of the airspace above the surface of the land

Answer 10

air rights

Question 11

the rights to the surface, exterior, or upper boundary of a parcel of land, including access to water and other substances.

Answer 11

surface rights

Question 12

the rights to the area below the earth’s surface, such as oil and mineral rights

Answer 12

sub surface rights