Chapter 5: What Is Real Estate? Key Terms Review Part 2 Flashcards Preview

Real estate license study > Chapter 5: What Is Real Estate? Key Terms Review Part 2 > Flashcards

Flashcards in Chapter 5: What Is Real Estate? Key Terms Review Part 2 Deck (12):
1

Incorporeal

Intangible eg. rent or right-of-way

2

Land

The earth, including above.

3

Littoral rights

refers to rights concerning properties that abut an ocean, bay, delta, sea or lake, rather than a river or stream (riparian).

4

Mineral rights

Subsurface rights.
It is the right of the owner to exploit, mine, and/or produce any or all of the minerals lying below the surface of the property.

5

Parcel

A specific tract of land.

6

Personal property, personalty

Everything that is not real property.

7

Real estate

Land, improvements, and bundle of rights.

8

Real property, Realty

Synonyms for real estate.

9

Riparian rights

The use of water by adjoining landowners.

10

Reliction

The creation of dryland by the gradual withdrawal of water.

11

Subsurface rights

Ownership of minerals, oil, and anything under the ground.

12

Trade fixture

Items removable by the tenant or tenants.