Land plus improvements, (improvement is any nonnatural structure built on or affixed to land)

It refers to the land and improvements on it, plus the bundle of rights associated.

Real Property includes the following bundle of rights:

It gives an owner the right to tell trespassers to get off their land.

It is also known as the Right to Use:

It is the right to sell, lease or will. Also known as the Right of Transfer.

It is the right to LEGALLY use the property, however you want. This covers a lessee´s right too.

It is the right to alter, change, or improve a property as an owner sees fit.

It is the right to put a property on the line as collateral for debt. Often rolled up with the right to control.

Sandra will add a carpool to her house.

Josh doesn´t allow strangers into his property.

Megan has her home closed all the weekdays, and only enjoys the pool on weekends.

I live in a house my dad inherited me.

I´m thinking on add a new bathroom next month.

Any item that may be owned, including the rights associated with ownership.

John just bought 20 per cent ownership iin a company, now he has:

Karen´s new town home is an example of:

An asset in Real Estate business is :

It is the act of transferring property from one party to another.

This term is commonly used in real estate transactions when buyers and sellers transfer ownership of land, building, or home.

A _______is done using a legal document such as a contract, lease, title, or deed.

_______ can be outlined as the percentage of your home that you own.

Rick did a $20k down payment, he got an instant $20k _______

When your home value increases your _______ increase too.

_______ is considered as an asset and is included in the total figure of your personal net worth.

It is a measure of wealth, is the sum of all assets owned by a person or a company, minus any obligations or liabilities.

Synonym for Legal Title: _______

It is the complete legal ownership of real property and the bundle of rights associated.

It is the side of law that arises from judgements and decisions made in courts rather than explicit legislation.

It regulates broad issues, such as general land usage, natural disaster relief, environmental legislation, and anti-discrimination legislation.

They are the primary regulators of real estate law. They address things such as more specific environmental control of flood zones and waste disposal.

They empower real estate commissions to create rules around real estate licensure, ethics, and practices.

They address issues such as land use control, taxation, and zoning.

It is also known as judicial precedent, judge-made law, or case law.

It is conveyed by bill of sale or by bequest in a will.

It is a commonly used term for personal property in the world of real estate.

Trees, persistent decorative plantings (such as perennial landscape plants), and uncultivated plants are an example of:

Usually considered to be real property because of their permanence.

Annually cultivated crops are called _______

Emblements is a synonym for _______

Plants that are cultivated and harvested are considered personal property and referred to as:

It is an object that was once personal property but is now firmly attached to the land in such a way that it is considered to be real property.

These items can be detached from land and switch from personal property to real property.

The process of converting personal property to real property, and therefore creating a fixture, is called _______.

Man made attachments are usually referred to as _______.

A chandelier is an example of:

Because fixtures can be detached from land and can switch from personal property to real property, the best practice is to list all fixtures _______ in the sales contract.

The meaning of affixation or annexation is:

It is the customization of personal property for use with real property, such as drapes cut for a window in a room with a high ceiling.

It is a conceptual linkage to real property, such as a garage door opener.

It is when the parties to a contract decide that personal property will remain with the real property (make sure to get this in writing!).

it is something attached to property rented by the lessee which they are entitled to take with them after the lease ends.

it is a fixture, like a shelf or display case, that is owned by and needed for a tenant’s business.

These are property of the tenant.

Is the act of converting real property into personal property, it is the opposite of affixation.

Severing the fixture from the home, should be performed ______

A lazy Susan, still in the box is an example of:

Family heirloom chandelier is removed from the dining room and packed into a box:

Generally goes with the property when it's sold.

Ceiling fan (attached to the ceiling).

Usually goes with the seller in a sale, unless otherwise specified in the sales contract

Process of converting real property to personal property

Process of converting personal property to real property.

Shelving units are unpacked, assembled, and attached to the wall next to the kitchen sink

It is the right to all that one's own property produces, including that which is added, either naturally or by human action to the property.

It is the process that results in the gradual increase in land area through deposits of soil (aluvion) by natural forces.

It is the gradual loss of land over time. This most often happens when bodies of water wash away bordering land.

It is a gradual increase in land area when water gradually withdraws.

The sudden loss of land by flood or when a stream or river changes course. Because it's a sudden change, no title is lost. It is caused by water.

Refers to the fact that the value of land can be affected by human-made changes to the land.

It takes into account not only the geographical location of property, but also the economic qualities of that area that make it more or less desirable.

It is the economic characteristic that informs the economic principle of supply and demand.

Permanence of investment is also known as _______ and means investments in real estate are long-term.

It refers to the physical characteristics of indestructibility and immobility of land, since it cannot be moved if the market becomes better in another location.

It is the relative difficulty of converting an asset to cash without loss of value.

Also known as mineral rights, may be sold separately from surface rights.

When two parties each hold an interest in a property the holder of ____ has priority and may legally enter the property to extract the minerals they have rights to, but they must take care to not materially disturb the surface.

A landowner who drills a well for gas or oil on their land is entitled to all that well produces — even if the gas or oil migrates from beneath a neighbor's property.

Supporting rights is the legal concept of responsibility adjacent landowners share.

_______ is provided by adjacent properties.

Supporting rights is the legal concept of responsibility adjacent landowners share.

_______ comes from the underlying earth.

Is the right of surface land to be supported by the land beneath it against subsidence. Subsidence is the sinking or lowering of the earth's strata.

The owner of land has a right in having their soil in its natural condition remain in its natural position without being caused to fall away by excavations or improvements made on adjoining land.

It is the area above ground that is owned along with a property.

Grants a state the power to control and regulate all water resources within its borders, and property owners must apply for a permit to use any available water source.

_______ apply during periods of drought or when water is more scarce. Give owners the rights to a portion of their water, but not all.

Govern the use of flowing water, such as rivers and streams that pass through or border a property.

Govern lakefront or oceanfront property and usually allow the property owner to use the water bordering their property, but prohibits the property owner from artificially changing the water’s location.

Refers to rights or restrictions that run with the land, such as subsurface rights, driveways, drainage ditches, fences.

Includes the doctrine of prior appropriation.

A homeowner who extracts oil deposits from underneath their property is utilizing these rights.

The rights to access the uppermost layer of a parcel of real property.

A homeowner who builds a 10-story skyscraper is utilizing more of these rights.

Includes riparian rights, littoral rights, and percolating rights.

Because the buyer of this kind of housing isn't buying real property, they won't use a mortgage for financing. Instead they will take out a loan regulated by the Uniform Commercial Code, which regulates the sale and transfer of personal property.

"Right of first refusal" the association has this right. This means that if the owner decides to sell the unit, the association has the first chance to buy or lease the property.