rights in real estate
Quiz yourself by thinking what should be in
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| what is a simple definition for real estate? | show 🗑
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| real estate in the U.S may be owned: | show 🗑
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| Private ownership rights in the U.S are not absolute. True or False | show 🗑
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| What can the government and other private parties do to ones property? | show 🗑
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| show | -land and real estate
-real estate and property
-real property and personal property
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| the legal concept of land encompasses: | show 🗑
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| show | -minerals beneath earth's surface
-water on or below earth's surface
-air above the surface
-plants attached to or in the ground
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| show | a portion of land delineated by boundaries
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| what are the 3 physical characteristics of land? | show 🗑
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| show | a parcel of land can't be moved from one site to another. Geographical location of land is fixed and cannot be changed.
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| show | land is permanent, would have to remove a segment of the planet down to the core to destroy it.
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| how is land non-heterogenous? | show 🗑
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| show | -land
-all man-made structures that are "permanently" attached to the land.
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| show | fences, streets, buildings, wells, sewers, sidewalks, etc.
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| Man-made structures attached to land are called? | show 🗑
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| what does the phrase "permanently attached" refer to? | show 🗑
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| what is property? | show 🗑
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| what are the bundles of rights? | show 🗑
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| what rights come with owning property? | show 🗑
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| show | real property and personal property
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| what is real property? | show 🗑
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| show | ownership of anything which is not real estate, and the rights associated with owning the personal property item.
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| show | physical, visible, and material. (something you can touch)
real property: all types are tangible
personal property: boat, car, jewelry.
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| what is intangible property? What are some examples in personal property? | show 🗑
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| all real estate is tangible property. True or False | show 🗑
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| The bundle of real property rights also applies separately to_______? | show 🗑
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| what are the individual components of real estate? | show 🗑
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| what is a good example of the transfer of a portion of one's bundle of rights? | show 🗑
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| what do surface rights apply to? | show 🗑
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| show | the space above the surface boundaries of the parcel, extends to infinity. modified to allow aircraft to fly over property.
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| show | land beneath the surface of the real estate parcel. Extending from surface boundaries downward to center of earth.
ex: right to extract minerals, gas, and subsurface water.
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| show | concern rights to own and use water found in bodies of water. Determines where parcel boundaries can be fixed.
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| what water rights does an owner of a property that contains or adjoins a body of water enjoy? | show 🗑
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| show | legal position that requires property owners to obtain permits for use of water.
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| If a state does not operate under the Doctrine of prior appropriation. what does it operate under? | show 🗑
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| what are littoral rights? | show 🗑
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| show | concern properties abutting moving water. navigable or not determines if the owner owns the land beneath the steam to its midpoint.
Ex: streams and rivers
if non navigable- owner owns it
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| like littoral rights, riparian rights attach to the property. True or False | show 🗑
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| How can you identify if a property is personal or real? | show 🗑
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| show | a personal property item that has been converted to real property by attachment to real estate.
Ex: chandeliers, toilet, water pumps, etc.
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| If you can't identify if a property is real or personal through attachment criterion. One can apply? | show 🗑
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| what are trade/chattel fixtures? | show 🗑
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| what types of plants are considered real property? | show 🗑
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| What are emblements? And what type of property are they? | show 🗑
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| show | dwelling units constructed off-site and transported to and assembled on a building site.
Ex: Mobile home and manufactured housing
Can be considered real or personal property depending on whether it is permanently affixed to the ground.
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| What is conversion? | show 🗑
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| show | the conversion of real property to personal property ny detaching it from the real estate.
Ex: cutting down a tree
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| what is affixing/attachment? | show 🗑
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| show | land, fixtures, and conversion by attachments/affixing
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| show | trade fixtures, emblements, and conversion by severance
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| Although the constitution guarantees private ownership of real estate_________? | show 🗑
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| show | -the bundle of rights
-legal description
-financing
-insurance
-inheritance
-taxation
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| the federal government is primarily concerned with what when regulating real property rights? | show 🗑
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| Give an example of a federal agency that promotes and regulates home ownership: | show 🗑
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| show | establishes protective usage restrictions and guidelines for dealing with hazardous materials and other environmental concerns
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| show | prohibit discrimination in housing based on race, religion, color, or national origin
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| show | the State government because it establishes real estate license laws, and qualification Most importantly exert regional influence in the usage and environmental control of real estate within the state.
Ex: flood zones, waste disposal, drainage control
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| what level of government focuses on land use control, control of improvements, and taxation? | show 🗑
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| show | The judicial system exerts an influence on real estate ownership and use through decisions based on case law and common law
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| show | consists of decisions based on judicial precedent
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| show | the collective body of law deriving from custom and generally accepted practice in society.
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