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Georgia Real Estate

Chapter 1 & 2

TermDefinition
real estate Land and improvements in a physical sense, as well as the rights to own or use them
improvements any form of land development, such as buildings, roads, fences, and pipelines
appurtenance an improvement, right, or privilege that
Personal Property Also know as chattel an interest in things of a temporary or movable nature
Physical Characteristics Indestructible Immovable Nonhomogenous
Economic Characteristics Situs Scarcity Improvability Fixity
fixture an object that has been attached to land physically so as to become real estate
Ways to tell or tests to determine if an item is real or personal property Modification Attachment Relationship of the parties Intentions of the annexing party Agreement
The most effective way to test a fixture Agreement
Riparian Rights the rights of a landowner whose land borders a river or stream to use or enjoy water
Littoral Rights right of landowners to use and enjoy a lake or sea touching their land
Doctrine of prior appropriation the first owner to divert water for personal use may continue to do so
Doctrine of capture the first to use the water (even underground water) has a prior right to use.
legal description a method of identifying a property geographically exclusive of any other property on the face of the earth
Township a 6 mile square made up of 36 square miles or “sections”
section 1 square mile (a township is made up of 36 sections)
acre 43,560
Emblements Annual cultivated crops and personal property.
Created by: user-1812658
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