unit 2 national

Comprehensive vocabulary flashcards covering essential real estate terms, legal rights, and land characteristics.

Accession

Gaining ownership of property through natural growth, additions, or improvements.

Accretion

The gradual addition of land by natural deposits of soil from water.

Air Rights

The right to use or control the space above a piece of land.

Annexation

Attaching personal property to real property so it becomes part of the real estate.

Appurtenance

A right or improvement that belongs to and transfers with the property.

Area Preference

A person's desire to live in a particular location or neighborhood.

Avulsion

A sudden loss or addition of land caused by water action, such as a flood.

Bundle of Legal Rights

The collection of rights a property owner has, including possession, control, enjoyment, exclusion, and disposition.

Chattel

Personal property that is movable and not attached to land.

Emblements

Annual crops planted and harvested by a tenant.

Erosion

The gradual wearing away of land by water, wind, or other natural forces.

Fixture

Personal property that has become permanently attached to real property.

Improvement

Any addition to land that increases its value, such as a building or fence.

Land

The earth's surface, including what is below and above it.

Littoral Rights

Rights of property owners whose land borders a lake, sea, or ocean.

Manufactured Housing

A home built in a factory and transported to a site for use.

Nonhomogeneity

The fact that no two parcels of land are exactly alike.

Personal Property

Property that is movable and not permanently attached to land.

Prior Appropriation

A water rights system where the first person to use water has priority rights to it.

Real Estate

Land plus all permanent improvements attached to it.

Real Property

Real estate plus the legal rights that come with ownership.

Reliction

The gradual increase of land exposed when water permanently recedes.

Riparian Rights

Rights of property owners whose land borders a flowing body of water, such as a river.

Severance

The removal of something from real property, changing it to personal property.

Situs

The economic location or position of a property.

Subsurface Rights

Rights to minerals, oil, gas, and other resources below the surface.

Surface Rights

Rights to use the surface of the land.

Trade Fixture

An item installed by a tenant for business purposes that can usually be removed when the lease ends.

Water Rights

Rights to use water that is adjacent to or under a property.