Unit 5: What is Real Estate?

Question 1

accretion

Answer 1

increase of land caused by gradual depositing of solid material by action of water

Question 2

air rights

Answer 2

the right to use the open space above a property

Question 3

avulsion

Answer 3

the sudden change of a course of stream

Question 4

alluvion

Answer 4

solid material deposited by a body of water

Question 5

bill of sale

Answer 5

a written document transferring ownership of the property

Question 6

bundle of rights

Answer 6

rights owner of a property is entitled to:
1. right of possession
2. use of property
3. right of enjoyment
4. right of exclusion
5. disposition/alienation (right to sell/give away property)

Question 7

chattels

Answer 7

tangible personal property

Question 8

coporeal

Answer 8

tangible

Question 9

devise

Answer 9

leave real estate to someone through a will

Question 10

emblements

Answer 10

annual crops (i.e. wheat, corn, garden vegetables etc.)

Question 11

erosion

Answer 11

gradual wearing away of land by water, wind, any other weather conditions

Question 12

fixture

Answer 12

something that was once personal property, but is now real estate by being attached (w/ intention that it becomes permanent)

Question 13

front foot

Answer 13

a measurement of the width of land (one ft. wide)

Question 14

hereditament

Answer 14

anything that can be inherited

Question 15

improvement

Answer 15

any structure put on a site to enhance its value (i.e. fences, sidewalks, benches etc.)

Question 16

incorporeal

Answer 16

intangible

Question 17

land

Answer 17

the earth’s surface

Question 18

littoral rights

Answer 18

rights of landowners to use certain bodies of water (lakes/large bodies of water)

Question 19

mineral rights

Answer 19

subsurface rights which can be sold or retained separately

Question 20

parcel

Answer 20

a specific tract of land

Question 21

personal property/personalty

Answer 21

everything that is not real property

Question 22

real estate

Answer 22

land, improvements, and bundle of rights

Question 23

real property/realty

Answer 23

real estate plus all interests/benefits and rights to inherit ownership (real estate)

Question 24

reliction

Answer 24

creation of dry land by the gradual withdraw of water

Question 25

riparian rights

Answer 25

rights of landowners to use waters adjoining streams/rivers (not affected by tidal currents)

Question 26

subsurface rights

Answer 26

ownership of minerals/oils etc.

Question 27

trade fixture

Answer 27

items of personal property attached to real estate owned by a tenant and used in business (can be legally removed by tenant)