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Flashcards covering land section calculations, the hierarchy of property descriptions, and core vocabulary related to real property rights and characteristics.
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Section
A unit of land area containing 640 acres.
Quarter of a Section
A division of a section containing 160 acres, also referred to as a quadrant, corner, or one fourth (1/4).
Breakdown of a Section Quarter
A process of dividing land by fourths: 160 acres divided by 4 is 40 acres, divided by 4 is 10 acres, and divided by 4 again is 2.5 acres.
Quadrant, corner, and quarter
Synonymous terms used in land description to mean the fourth (1/4).
Identifying a Parcel Location
To identify a parcel from a written description (e.g., Northwest 1/4 of the Southwest 1/4…), one must start from the right side of the description and work backward to the left.
Real property
Land improvement and permanent attachments, also referred to as real estate.
Bundle of rights
The rights of possession, use, quiet enjoyment, exclusion, and disposition.
Personal property
Anything that is not attached or made part of the structure itself; also called chattel or personalty.
Chattel
Another name for personal property or personalty.
Fixture
Anything that is actually fastened to the real property; fixtures become part of the real property.
Emblement
Something that can be severed or removed from the property.
Affixed
Typically in reference to mineral, water, or surface rights; resources that go with the property.
Annexation
The process of personal property becoming real property, or the adding of water or mineral rights to the property.
Legal tests for Fixtures
Includes the method of annexation, adaptability, and the relationship of the parties.
Improvement
Anything that has been built on the real property.
Appurtenance
Something that comes with real property, such as water, a well, or an easement.
Situs
Another name for location.
Physical Characteristics of Real Property
Immobility, indestructibility, and uniqueness.
Economic Characteristics of Real Property
Scarcity, improvements, permanence of investment, and location (or situs).
Legal Description Types
Metes and bounds, rectangular or government survey, and lot and block or subdivision method.
Easement
The right to use or access another property.