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47 Cards in this Set
- Front
- Back
Immobility, Indestructibility, Nonhomogeneity, Nonfungible |
Physical characteristics of Land |
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Nonhomogenous |
Uniqueness, no two parcels of land are the same |
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Land patent |
The document that transferred land ownership under the 1862 Homestead Act. |
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Scarcity, Situs, and Durability |
Economic characteristics of land |
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Situs |
The fancy word for "location." |
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Land |
The Earth's surface, including the soil going down to the Earth's core |
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Real Estate |
The land, plus its improvements (buildings and fences, etc.) |
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Real Property |
The land and real estate, plus the rights and privileges the owner possesses. |
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Profit a prendre |
The right to use and extract from the land of another. (E.g. the right to drill for oil or mine metals on private land owned by another party.) |
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Riparian rights |
If an owner's land borders a moving body of water, under these rights, the landowner is entitled to a share in the use of the water. |
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Littoral rights |
If a land owner's property borders a non-moving body of water, under these rights the land owner may use and enjoy the water bordering their land, but cannot divert the water. |
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Doctrine of Prior Appropriation |
In some states, especially dry western states, this doctrine allows the first user of the water source to channel it for his use, to the deprivation of others. |
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Groundwater |
Water in the earth BENEATH the saturation point. Does not flow in an undeground stream. |
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Percolating water |
Water found underground and tapped for a well. |
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Floodwaters |
Water that overflows the channel or stream of the water. |
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Tidelands |
Shorelines affected by tides. |
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Accretion |
Gaining land by soil buildup |
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Erosion |
Gradual loss of land |
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Avulsion |
Rapid loss of land. |
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Reliction (or deriliction) |
When a body of water recedes, exposing dry land. |
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Police powers, Eminent domain, Taxation, Escheat |
The rights of government in regard to real estate |
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Eminent domain |
The right of government to take private property for public use with just compensation |
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Condemnation Proceedings |
The process by which property is taken, especially in regard to eminent domain |
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Special assessments |
Special taxes to pay for the cost of improvements such as pavement, sidewalks, street lights, etc. |
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Escheat |
The lapsing of property to the state, such as when a person dies with no will ("intestate") and with no heirs. |
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Intestate |
Having no legal will |
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Chattel, or personalty |
Fancy word for personal property |
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The guidelines for determining personal property versus real property |
MARIA |
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MARIA |
Manner of attachment Appropriateness of use intended Relationship of the parties Intent of parties Agreement to the contrary |
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Fixture |
Items of personal property that become real property when attached to real estate. E.g. cabinets and ceiling fans. |
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Trade fixtures |
Fixtures in real estate that are specific to the seller's trade, which are thus personal property, despite being affixed. E.g. a barber's chair |
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Emblements |
Annual crops (are personal property, not real property) |
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Voluntary alienation |
Selling land to a purchaser (fancy way of saying it). |
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By purchase, by will, by descent |
Three ways to acquire ownership |
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Devise |
Estate that has been willed to someone. |
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Devisee |
One who receives willed estate. |
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Testator |
One who wills estate to another. (The person who makes the will.) |
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Probate |
The legal process to determine the exact assets of a deceased person. |
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Codicil |
An amendment to an existing will. |
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Involuntary alientation |
When property is take from the rightful owner by some legal process. |
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Police Powers |
The right of government to make laws, ordinance, regulations, etc. regarding the use of land. E.g. zoning laws, building codes |
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Adverse possession |
Losing property because someone else has occupied your land in a hostile, continuous, visible and actual way for a period of time (different time state to state). |
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quiet title action suit |
The legal process by which someone claims a title of land through adverse possession. |
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Color of title |
The appearance of ownership (such as paying property tax on a parcel) |
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easement by prescription |
An easement one acquires on the land of another through continuous use for a statutory period. E.g. a trail through the property used by kids walking to school for many years. |
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Types of involuntary alienation |
Adverse possession, foreclosure, condemnation under right of eminent domain |
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Allodial system |
Gov't permits citizens to own private land (as opposed to feudal system where ownership remained with king) |