Chapter 1: Real Estate Ownership & Land-Use Vocabulary

A comprehensive set of vocabulary flashcards summarizing essential real-estate ownership, land-use, legal, and environmental terms discussed in the lecture.

Real Estate

Land plus all appurtenances attached to it.

Bundle of Rights

The total collection of ownership powers in real property (use, enjoy, lease, sell, etc.).

Title

Intangible ownership rights in real estate.

Deed

Written instrument that transfers title from seller to buyer.

Appurtenance

A right, privilege, or improvement that permanently runs with the land.

Natural Appurtenance

Naturally occurring items such as trees or streams that transfer with the land.

Man-Made Appurtenance

Human-created improvements like houses or fences attached to the land.

Mineral Rights

Rights to subsurface resources that pass with the land unless reserved.

Air Rights

Ownership of the space above the land extending up to infinity.

Water Rights

Ownership interests related to bodies of water adjoining the land.

Personal Property (Chattel)

Movable items not classified as real property.

Bill of Sale

Document used to transfer personal property.

Severance

Conversion of real property to personal property (e.g., cutting a tree).

Fixture

Personal property that becomes real property when permanently attached.

Trade Fixture

Item installed by a commercial tenant that remains personal property.

Emblements

Annual crops that remain personal property of the person who planted them.

Method of Attachment

How permanently an item is affixed; used to determine fixture status.

Intention of Parties

Purpose for installing an item; affects whether it is a fixture.

Adaptation of Article

Degree to which item is customized for the property; helps classify fixtures.

Government Rights

Taxation, police power, eminent domain, and escheat retained by the state.

Taxation (Government Right)

Government power to levy real estate taxes for community services.

Police Power

Government authority to enact zoning, building codes, flood maps, etc.

Eminent Domain

Government right to take private property for public use with compensation.

Condemnation

The legal process of exercising eminent domain.

Escheat

State’s right to acquire property of an owner who dies intestate with no heirs.

Freehold Estate

Ownership interest with uncertain duration (at least for a lifetime).

Fee Estate

Inheritable form of freehold ownership.

Fee Simple Estate

Maximum, most complete ownership rights in real property.

Conditional (Defeasible) Fee

Inheritable estate that can be voided upon violation of conditions.

Life Estate

Ownership limited to a person’s lifetime or another’s life (per autre vie).

Life Estate in Reversion

Property reverts to the grantor or heirs when life tenant dies.

Life Estate in Remainder

Property passes to a named third party (remainder-man) after life tenant’s death.

Per Autre Vie

Life estate measured by the life of someone other than the grantee.

Dower

Life interest a wife receives in husband’s property upon his death.

Curtesy

Life interest a husband receives in wife’s property upon her death.

Homestead Exemption

State law protecting a family home from certain creditor claims.

Severalty

Ownership by a single person or legal entity.

Concurrent Estate

Ownership by two or more persons at the same time.

Tenancy in Common

Concurrent ownership with undivided possession & inheritable shares.

Joint Tenancy

Concurrent ownership featuring the right of survivorship and four unities (TTIP).

Tenancy by the Entireties

Joint tenancy reserved for married couples with survivorship rights.

Community Property

Spousal system where property acquired during marriage is owned equally.

Suit to Partition

Court action to force sale or division of co-owned property.

Leasehold Estate

Tenant’s possessory interest for a limited duration; personal property.

Estate for Years

Lease with definite start and end dates.

Periodic Tenancy

Lease that renews automatically (e.g., month-to-month) until notice is given.

Tenancy at Will

Occupancy with landlord’s consent but no written lease.

Tenancy at Sufferance

Tenant holds over without landlord’s permission; lowest estate.

Encumbrance

Claim, limitation, or liability attached to property.

Lien

Money encumbrance securing payment of a debt.

Specific Lien

Lien against one particular property (e.g., mortgage, property tax).

General Lien

Lien against all real and personal property of a debtor (e.g., judgment).

Property Tax Lien

Specific lien for unpaid real estate taxes; always first priority.

Mortgage Lien

Voluntary lien used as security for a loan on real property.

Mechanics Lien

Specific lien filed by contractors or suppliers for unpaid improvements.

Judgment Lien

General lien arising from a court decree for unpaid debts.

Lis Pendens

Recorded notice of pending litigation affecting title to property.

Writ of Execution

Court order directing sheriff to sell property to satisfy a judgment.

Deed Restriction (Restrictive Covenant)

Private limitation on land use placed in a deed by a grantor.

Easement

Non-possessory right to cross or use another’s land for a purpose.

Easement Appurtenant

Right that benefits adjacent land; runs with the dominant tenement.

Dominant Tenement

Parcel benefiting from an appurtenant easement.

Servient Tenement

Parcel burdened by an appurtenant easement.

Easement in Gross

Commercial easement benefiting a person or company (e.g., utility).

Easement by Necessity

Right of access granted to a landlocked parcel.

Easement by Prescription

Right acquired through continuous, open, notorious, hostile use over time.

License (Real Estate)

Revocable permission to use land without creating an interest in it.

Encroachment

Physical intrusion of an improvement onto adjacent land.

Riparian Rights

Rights of landowners adjoining flowing waterways.

Reliction

Gradual increase in land due to receding water.

Accretion

Gradual buildup of land by natural causes.

Erosion

Gradual wearing away of land by water or wind.

Avulsion

Sudden loss or relocation of land due to a natural event.

CERCLA

Federal law regulating cleanup of hazardous waste sites.

EPA

Environmental Protection Agency; enforces federal environmental laws.

Lead-Based Paint Disclosure

Federal requirement for pre-1978 residential sales & leases.

Asbestos Encapsulation

Preferred method to contain asbestos fibers within buildings.

Radon Gas

Radioactive gas that can accumulate in structures; health hazard.

Brownfield

Abandoned commercial site suspected of environmental contamination.

Cooperative

Building owned by a corporation; residents own stock & proprietary leases.

Proprietary Lease

Long-term lease held by a coop shareholder to occupy a unit.

Condominium

Individual fee simple ownership of a unit plus tenancy in common of common areas.

Timeshare

Fee simple interest giving right to occupy a unit for a specific time each year.

General Warranty Deed

Deed with five covenants providing the greatest buyer protection.

Special Warranty Deed

Deed warranting only against defects arising during the grantor’s ownership.

Bargain and Sale Deed

Deed that implies ownership but makes no warranties except of seisin.

Quitclaim Deed

Deed conveying whatever interest the grantor may have without warranties; used to clear clouds.

Habendum Clause

Deed clause beginning “to have and to hold” stating the interest granted.

Consideration (Deed)

Something of value (often money) exchanged for the property.

Executor’s Deed

Deed used by an executor to convey a decedent’s real property.

Adverse Possession

Acquiring title through continuous, open, notorious, hostile, exclusive use.

Abstract of Title

Condensed history of recorded documents affecting title to property.

Title Insurance

Policy protecting against defects in title; premium paid once at closing.

Schedule of Exceptions

Section of a title policy listing matters not covered.

Special Assessment Tax

Real estate tax for improvements benefiting specific properties (e.g., sidewalks).

Mill Rate

Tax rate expressed per thousand of assessed value.

Buffer Zone

Area separating incompatible land uses (e.g., park between commercial & residential).

Planned Unit Development (PUD)

Mixed-use project requiring special (overlay/cluster/density) zoning.

Downzoning

Rezoning to a less intensive land use.

Nonconforming Use

Pre-existing use that is grandfathered after a zoning change.