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real property pt 2

unit 2 real property and the law

QuestionAnswer
land rights, mineral rights and air rights are included in the definition of real estate
an example of an economic characteristic of land scarcity
another word for uniqueness is non-homogeneity
owners with littoral rights enjoy... unrestricted use of available waters, but they own land adjacent to the water only up to the average high water mark
growing trees, fences, and buildings are all considered real estate
the most important economic characteristic of land is location
the law of the sea identifies national territorial waters as those extending from a baseline up to 12 nautical miles
the developer added sewer lines and utilities and built two streets. what are these items called improvements
the new owner of a condominium received the right to use a parking space in a multi -unit building. this right is an example of an appurtenance
methods of annexation, adaptation of the item, and agreement of the parties are the legal tests for determining whether an item is real property of personal property
an important distinction between real and personal property is that real property is transferred by deed
a seller asked a real estate professional to draw up several documents relating to seller financing, under these circumstances, the real estate professional should,,, refer the seller to an attorney
a rural landowner has posted a number of no trespassing and no hunting signs on his property. which stick in the bundle of rights gives the landowner this authority exclusion
a right or privilege tied to real property, although not necessarily part of the property is called an appurtenance
an important characteristic of personal property is that it is movable
manufactured housing( mobile homes) is the term used for factory -built home as of 1976
to determine whether an item is a fixture, the Most important test is whether the person who installed it intended for it to be permanent
a sales contract explicitly excludes some rose bushes from the sale. the provision is necessary because the rose bushes are ordinarily considered to be real estate
sidewalks and sewers in a subdivision are real property
bushes around a residence are real property
wheat or corn crops personal property
kitchen sink installed in a home real property and a fixture
booths installed by a tenant in a restaurant personal property and a trade fixture
curtains installed by a tenant personal property
pumps installed by a gas station tenant personal property and a trade fixture
water well pump installed by a landowner real property / fixture
crystal chandelier hung from the ceiling real property / fixture
 

 



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