Unit 2: Real Property and the Law Flashcards
(32 cards)
Acquiring title to additions or improvements to real property as a result of the annexation of fixtures or the accretion of alluvial deposits along the banks of streams.
Accession
The increase or addition of land by the deposit of sand or soil washed up naturally from a river, lake, or sea.
Accretion
The right to use the open space above a property, usually allowing the surface to be used for another purpose.
Air Rights
Process of converting personal property into real property.
Annexation
A right, privilege, or improvement belonging to, and passing with, the land; “runs with the land.”
Appurtenance
People’s desire for one area over another, based on a number of factors such as history, reputation, convenience, scenic beauty, and location.
Area Preference
The sudden tearing away of land, as by earthquake, flood, volcanic action, or the sudden change in the course of a stream.
Avulsion
The concept of land ownership that includes ownership of all legal rights to the land-possession, control within the law, enjoyment, exclusion, and disposition.
Bundle of Legal Rights
The combination of items into real property that are not fixed or fastened to the property.
Constructive Annexation
Growing crops, such as corn, that are produced annually through labor and industry; also called fructus industriales.
Emblements
The gradual and sometimes imperceptible wearing away of the land by natural forces, such as wind, rain, and flowing water.
Erosion
An item of personal property that has been converted to real property by being permanently affixed to the realty.
Fixture
(1) Any structure, usually privately owned, erected on a site to enhance the value of the property (e.g., a building, fence, or driveway). (2) A publicly owned structure added to or benefiting land (e.g., a curb, sidewalk, street, or sewer).
Improvement
The earth’s surface, extending downward to the center of the earth and upward infinitely into space, including things permanently attached by nature, such as trees.
Land
(1) A landowner’s claim to use water in large navigable lakes and oceans adjacent to her property. (2) The ownership rights to land bordering these bodies of water up to the high-water mark.
Littoral Rights
Dwellings that are built off site and trucked to a building lot where they are installed or assembled.
Manufactured Housing
A lack of uniformity; dissimilarity. Because no two parcels of land are exactly alike, real estate is said to be nonhomogeneous.
Nonhomogeneity
Personal property.
Personalty
Items, called chattels, that do not fit into the definition of real property; movable objects.
Personal Property
Owning or occupying a property.
Possession
A concept of water ownership in which the landowner’s right to use available water is based on a government-administered permit system.
Prior Appropriation
Land; a portion of the earth’s surface extending downward to the center of the earth and upward infinitely into space, including all things permanently attached to it, whether naturally or artificially.
Real Estate
State law enacted to protect the public from fraud, dishonesty, and incompetence on the part of those they hire to represent them in the purchase and sale of real estate.
Real Estate License Law
The interests, benefits, and rights inherent in real estate ownership; often used as a synonym for real estate.
Real Property
