Vocabulary Unit 2 Flashcards Preview

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Flashcards in Vocabulary Unit 2 Deck (27)
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1
Q

The words land, real estate, and real property

A

are often used interchangeably.

2
Q

Land

A

is defined as the earth’s surface extending downward to the center of the earth and upward to infinity.

3
Q

Real estate

A

is defined as land plus all human-made improvements to the land that are permanently attached (annexed) to it.

4
Q

improvement

A

to land can be any artificial thing attached on or below ground, such as a building, fence, water line or sewer pipe, as well as growing things that are made part of the landscaping.

5
Q

Real property

A

is defined as the interests, benefits, and rights that are automatically included in the ownership of real estate

6
Q

appurtenance

A

something that is transferred with or “runs with” the land) is a right or privilege associated with the property, although not necessarily a physical part of it.

7
Q

surface rights

A

Ownership rights in a parcel of real estate that are limited to the surface of the earth are called

8
Q

subsurface rights

A

The rights to the natural resources below the earth’s surface are called

9
Q

Water rights

A

are common-law (historical) or statutory rights held by owners of land adjacent to rivers, lakes, or oceans and are restrictions on the rights of land ownership

10
Q

riparian rights

A

Common-law rights granted to owners of land along the course of a river, stream, or similar flowing body of water are called

11
Q

littoral right

A

of owners whose land borders commercially navigable lakes, seas, and oceans

12
Q

accretion

A

increases in the land resulting from the deposit of soil by the water’s action.

13
Q

Erosion

A

s the gradual and sometimes imperceptible wearing away of the land by natural forces, such as wind, rain, and flowing water.

14
Q

Avulsion

A

is the sudden removal of soil by an act of nature. It is an event that causes the loss of land in a much less subtle manner than erosion

15
Q

prior appropriation

A

In states where water is scarce, ownership and use of water are often determined by the doctrine of

16
Q

Personal property

A

sometimes called personalty, is all the property that can be owned and that does not fit the definition of real property.

17
Q

Chattel

A

An important distinction between the two is that personal property is movable. Items of personal property, also called

18
Q

Manufactured housing

A

is that which is built specifically to the standards of the Department of Housing and Urban Development (HUD), although the term mobile home is still commonly used.

19
Q

emblements

A

Trees and crops generally fall into one of two classes: (1) Trees, perennial shrubbery, and grasses that do not require annual cultivation are known as fructus naturales. These items are considered real estate. (2) Annually cultivated crops such as fruit, vegetables, and grain are known as

20
Q

severance

A

which is the act of separating it from the land. For example, a growing tree is part of the land until the owner cuts it down, literally severing it from the property. Similarly, an apple becomes personal property once it is picked from a tree.

21
Q

Annexation

A

It is also possible to change personal property into real property through the process known as

22
Q

fixture

A

is personal property that has been so attached to land or a building that, by law, it becomes part of the real property

23
Q

trade fixture

A

A special category of fixtures includes property used in the course of business. An article owned by a tenant, attached to a rented space or building, and used in conducting a business is

24
Q

accession

A

The tenant is responsible for any damage caused by the removal of a trade fixture. Trade fixtures that are not removed become the real property of the landlord.

25
Q

situs

A

Place

26
Q

area preference

A

is commonly referred to as “location, location, location.” This economic characteristic refers not only to geography but also to the preference for a specific area.

27
Q

nonhomogeneity

A

Uniqueness, which is also known as