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Estate Practice ch2
In Ohio 9th edition
Term | Definition |
---|---|
Land | earth's surface to the center of the earth and the airspace above the land, including the trees and water |
Real Estate | land plus all human-made improvements to the land that are permanently attached (annexed) to it. |
Improvement | any artificial thing attached on or below ground that are made part of the landscaping. (building, fence, water line or sewer pipe & growing things under) |
Real property | interest, benefits and rights included in the ownership of real estate |
Bundle of legal rights | ownership rights (possesion, control within framework of the law, enjoyment, exclusion, disposition-to sell, will, transfer) |
Surface Rights | ownership rights in a parcel of real estate that are limited to the surface of the earth |
Subsurface Rights | rights to the natural resources below the earth's surface |
Air Rights | right to use the space above the earth provided rights have not been limited by law. |
Water Rights | held by owners of land adjacent to rivers, lakes, or oceans. |
Riparian Rights | law of rights |
Littoral rights |