Real estate

Question 1

Severalty

Answer 1

Sole ownership

Question 2

Bundle of rights

Answer 2

Right & interest of having title such as possession, control, excision, sell, and enjoyment

Question 3

Real property

Answer 3

Not movable, goes with the property

Question 4

Personal property

Answer 4

Goes the person, movable

Question 5

Chattel Real

Answer 5

Personal Property

Question 6

Fixture

Answer 6

Was personal an now real

MARIA - method, adaptability, relationship, Intention, agreement

Question 7

Trade fixture

Answer 7

Personal property, goes with the business

Question 8

Riparian Rights

Answer 8

River - moving body of water

Question 9

Littoral Rights

Answer 9

Lake - standing body of water

Question 10

Accretion

Answer 10

Adding of land

Adds soil, sand to property natural causes

Question 11

Avulsion

Answer 11

Tearing away land

Question 12

Reliction

Answer 12

Gradual recession of water leaving land permanently

Question 13

Appurtenances

Answer 13

Runs with the land

EX - A barn on a property goes with the land

Question 14

Free hold estate

Answer 14

No fixed duration of ownership

Question 15

Fee simple estate

Answer 15

Highest ownership

Also known as fee simple absolute

Question 16

Fee simple Defeasible

Answer 16

Possesses the property as a fee simple subject to a condition

Question 17

Life estate

Answer 17

Ownership of land for a persons life

Question 18

Less than freehold estate

Answer 18

Limited period of time

Question 19

Estate for years

Answer 19

Period of time defined

EX - 6 months or July 3rd to September 8th

Question 20

Periodic tenancy

Answer 20

Period to period, month to month

Question 21

Estate at will

Answer 21

Can end at anytime

Question 22

Estate of sufferance

Answer 22

Landlord suffering, tenant is in possession passed agreed upon time

Question 23

Concurrent Estate

Answer 23

Ownership with others

Question 24

Joint Tenancy

Answer 24

Equal right of entry and possession, right of survivorship

Question 25

Encumbrance

Answer 25

Claim against asset by another | Ex - liens, easement, mortgage leases

Question 26

Dominant Tenement

Answer 26

Gaining the benefit of an easement

Question 27

Servient Tenement

Answer 27

Suffers the burden of an easement

Question 28

Easement by prescription

Answer 28

Someone uses another’s property for a certain amount of time without permission

Question 29

Appurtenance Easement

Answer 29

Right to use adjoining property that transfers with the land

Question 30

Easement in Gross

Answer 30

No dominant tenament | Utility company

Question 31

Government powers

Answer 31

``` PETE police power Escheat Taxation Eminent domain ```

Question 32

Police power

Answer 32

Regulate the betterment of the health, safety, morals, an general welfare of the community

Question 33

Zoning

Answer 33

Police power that divides areas for designated uses

Question 34

Variance

Answer 34

Exception to the zoning laws

Question 35

Nonconforming use

Answer 35

A use of property that was allowed under the zoning regulations at the time but have since become non compliant

Question 36

Escheat

Answer 36

Reversion of property to the state when the owner does without heirs

Question 37

Intestate

Answer 37

Someone dies has no will

Question 38

Testate

Answer 38

Person does and has a will

Question 39

Probate

Answer 39

Executor for the state, sells property in order to divide the property among the beneficiaries

Question 40

Holographic will

Answer 40

Will written by hand

Question 41

Taxation

Answer 41

Financial changes by the state to fund public expenditures

Question 42

Ad valorem

Answer 42

Taxes levied against property at certain rate based upon properties value

Question 43

Eminent Domain

Answer 43

Governments ability to take private property for public use

Question 44

Condemnation

Answer 44

Compensating a person when property is taken by eminent domain

Question 45

Inverse condemnation

Answer 45

Suing the government for just compensation when property is taken

Question 46

Encroachment

Answer 46

Structure is built in or on a neighbors property