SSOR Chapter 1 Vocab

Any right or privilege which belongs to and passes with land.

• Tenements

• Appurtenance

• Bill of Sale

• Chattel

An instrument transferring ownership of personal property

• Bill of Sale

• Real Estate

• Indestructibility

• Situs

Another word for Personal property

• Real Property

• Deed

• Personalty

• Chattel

A written instrument, usually under seal, which contains an agreement to transfer some - property interest from a grant or to a grantee

• Land

• Deed

• Highest and Best Use

• Bill of Sale

All the corporeal and incorporeal attributes of real estate that can be inherited

• Hereditaments

• Improvements

• Nonhomogeneity

• Realty

The legal use of a parcel of land, which when capitalized, will generate the greatest net present value of income.

• Scarcity

• Highest and best use

• Situs

• Improvements

A physical characteristic of land describing the impossibility of relocating land from one place to another

• Chattel

• Immobility

• Indestructibility

• Improvement

Structures, walls, roads, and so on

• Improvements

• land use controls

• Real estate

• Realty

A physical characteristic of land meaning that land is permanent commodity and cannot be destroyed

• Specific Performance

• Real Property

• Immobility

• Indestructibility

Activities such as Zoning, the regulation of the development of real estate, and city planning

• Land Use Controls

• Tenements

• Improvements

• Real Property