| A | B |
|---|
| feudal | all the land belongs to the king/queen and everyone owes rent or services to a superior |
| allodial | establishes absolute ownership (used in USA) |
| fief | is an estate held as a condition of service to another |
| The Statute of Quia Emptores | led to the payment of money rather than services & eventually caused the end of the tenure system |
| property | refers to rights that people have to use what they legally own |
| bundle of rights (property rights) | control, possession, quiet & peaceful enjoyment, disposition, encumbrance |
| control (property right) | total control within framework of the law |
| possession (property right) | the right to have and to hold |
| quiet & peaceful enjoyment (property right) | the right to use the property;noone has superior rights |
| disposition (property right) | the right to sell, will, lease, barter, or destroy |
| encumbrance (property right) | the right to mortgage, grant easement, or burden titile |
| deed restrictions | clauses in a deed limiting future use of a property |
| easements | the right, privilege, or interest that one party has in the land of another |
| tenants | the right of possession and use of an owner's property due to a lease or rental |
| lenders | a charge (lien) against property making it security for payment of a debt, judgement or mortgage |
| P.E.T.E | police power, eminent domain, taxation, escheat |
| police power | enact laws for common good (police, fire, sanitation, health dept., planning, subdivision regulations, zoning and building codes |
| eminent domain | right to take private property w/o permission after paying a fair compensation |
| taxation | right to levy taxes against real and personal property in order to provide services |
| escheat | right of the state to take property from a deceased person's estate when there is no will or heirs |
| ad volorem taxes | taxes according to the value of the property |
| emblements | growing crops |
| fructus industriales | annual crops such as wheat, cotton, oats and corn (personal property) |
| fructus naturales | perennial roots such as trees, bushes & vines (real property) |
| fixture | permanently attached (air conditioner, furnace, cabinets, garbage disposal) |
| M.A.R.I.A (test to determine real property or personal property) | method of attachment, adaptability (custom), relationship of parties, intent of annexor, agreement of parties |
| trade fixtures | items that are personal property & used to carry out his/her business so they can be removed even if attached |
| UCC (Uniform Commercial Code) | body of law that covers the sale & liens of personal property |
| alluvion | surface land gained by accretion |
| accretion | slow buildup of land by natural forces such as wind or water |
| avulsion | sudden loss of land as a result of sudden shift in a riverbed, volcanic action, earthquake or other cause |
| erosion | gradual wearing away of land through processes of nature |
| non-navigable waterway | landowner owns land beneath the surface |
| navigable waters (used for commerce) | landowner owns land to the water's edge |
| riparian rights | water rights that apply only to the land rights of properties that border a waterway |
| real estate | the land plus man-made additions permanently attached to the Earth |
| tenements | buildings on the land |
| improvements | sewers, sidewalks, streets & utilities |
| appurtenances | rights, privileges, or improvements that belong to & pass with progression (easements, rights of way, water & mineral rights) |
| economic characteristics of real estate | scarcity, improvements, fixed investments and situs |
| scarcity | means lack of land in a given area that is suitable for development |
| improvements | upgrades to the land |
| fixed investments | capital investments, labor, utilities, sewers, & maintenance |
| situs | area preference (people's choice of a given area) |
| prior appropriation | first in time, first in use |
| physical characteristics of real estate (3) | immobility (fixed location); indestructability (land is indestructible); nonhomogeneity (no two parcels are the same) |
| Littoral doctrine | regulates the ownership of land next to navigable lakes and the ocean |
| Metes and Bounds | oldest, still used in the East U.S., uses natural and man-made land marks (monuments)to mark boundaries(distance/metes and direction/bounds) |
| rectangular survey | land divided into townships of 36 square miled and then divided townships into 36 sections of 1 square mile (640 acres)/section 16 set aside for schools (based on north/south meridian lines and east/west base lines |
| range lines | there are north/south lines every 6 miles parallel to the principal meridian called range lines (coded R1E, R2W) |
| township lines | every 6 miles parallel to the baseline are east/west lines called township lines (tiers) (T1N, T4S) |
| map & plat descriptions | also known as lot/block survey, used in small urban areas/a plat is a survey that shows location and boundaries of individual properties, streets, parks etc. |
| bench mark | is a brass marker embedded in the road or permanently attached to a tree or post to give the elevation based on the official datum |
| datum | a point of reference to which heights and depths are referred / used by surveyors |
| Environmental Impact Statement (EIS) | purpose is to gather information that will demonstrate a positive or negative impact of a proposed project on the physical, economic, & social environment of the area/presented to the planning and zoning commission |
| zoning regulations (restrictions) | dividing property into zones, setting eight & bulk of buildings, deignation use of buildings, determining use of land, limiting population density, establishing setback lines |
| Real property zones | resedential, commercial, industrial/manufacturing/agricultural & raw land/special purpose (hospitals, schools, airports) |
| nonconforming use | is a building or land use that doesn't conform to the zoning ordinance |
| grandfather clause | property can't be remodeled, enlarged, or rebuilt if destroyed nor can the use be changed but it can stay as is due to this clause |
| zoning variance | minor change in zoning for one specific property or neighborhood/present at a hearing to show hardship |
