Real Estate 2100
Terms
undefined, object
copy deck
- holigraphic will
- a handwritten will signed by a person but not witnessed
- Rectangular system survey
- govt. system for surveying land that uses latitude and longitude lines as references
- Quitclaim deed
- a legal instrument used to convey whatever title the grantor has, it contains no convenants warranties or implication of the grantors ownership
- grantee
- buyer
- motgagor
- borrower
- Personal Poperty
- right or interest in things of a temporary or movable nature; anything not classed as real property
- Devise
- The actual act of transferring ownership of land by will
- lessee
- tenant
- Blood/Bloodlines
- under texas laws of intestate succession, property is distributed by
- lessor
- land lord
- Police power
- right of govt. to enact laws and enforce them for the order, safety, health, morals, and general welfare of the public
- Fixture
- an objected that has been attached to land so as to become real estate
- An easement acquired by constant use is called easement by
- prescription
- Monument
- an iron pipe, stone, tree, or other fixed part used in making a survey
- Deed
- written legal document by which ownership of real property is transferred from one party to another
- Warranty
- an assurance or guarantee that something is true as stated
- Consideration
- anything of value given to induce another to enter into a contract
- Encroachment
- the unauthorized intrusion of a building or other improvement onto another persons land
- Eminent domain
- right of govt. to take privately held land for public use provided fair compensation is paid
- Trade Fixture
- a business or trade related article attached to a rental building by business tenant
- In determining whether an article of residentially used "personal" property has become a part of the real estate, which of the following test would not be applied?
- The cost of the article
- condemation
- the legal action of eminent domain
- section
- In the U.S. public land survey system, each 640 arce sq mile area
- Real estate
- land and improvements in a physical sense as well as the rights to own or we them
- How many square feet are there in an acre?
- about the same number of sq. feet in a football field, 43,560
- Property which is not considered to be real estate is
- personal property, trade fixtures
- Covenant
- a written agreement or promise
- littoral rights
- lawful claims of a landowner to use and enjoy the water of a lake or sea bordering his hand
- vendor
- seller
- grantor
- seller
- mortgagee
- banker
- Meters and Bounds
- a detailed methods of land description that identifies a parcel by specifying its shape and boundaries
- Property tax lien
- results from the right govt. to collect taxes from property owners
- Grantee
- the person named in a deed who acquires ownership
- Color of title
- some plausible, but not completey clear-cut, indication of ownership rights
- Encumbrance
- any impediment to a clear title such as a lien, lease, or easement
- Appurtenances
- rights that pass with conveyance
- township is
- 36 sq miles
- Chattel
- an article of personal property
- Riparian Right
- right of a landowner whose land borders a river or stream to use and enjoy that water
- cloud on the title
- An impediment or exception to title to real property
- Improvement
- any form of land development, such as building, roads, fences, piplines, etc
- Homestead protection
- state law that protect agains and the forced sale of a persons homes
- title
- the right to or ownership of something; also the evidence of ownership, such as a deed or bill of sale
- Mechanics Lien
- laws give anyone who has furnished labor or materials for the demolition or improvement of land the right to place a lien against that land if payment has not been received
- Judgment Lien
- arise from lawsuits for which money damages are awarded
- codicle
- An addition or change of a will
- Adverse possession
- acquistion of land through prolonged and unauthorized occupation
- Bargin and sale deed
- contains no covenants, but does imply that the grantor owns the property being conveyed
- Recorded plat
- subdivision map filed in the country recorders office that shows the location and boundaries of individual parcles of land.
- Lien
- a hold or claim tht one person has on the property of another to secure payment of a debt or other obligation
- Easement
- right or privilege one party has to use land belonging to another for a special purpose not inconsistent with the owners use of land
- Acre
- a unit of land measurement
- escheat refers to
- title reverting to the state, with no known heirs
- Meridain
- imaginary lines running north and south used as reference in mapping land
- Statue of freud
- The law which requires transfers of real property ownership be in writing
- A government may exercise its police power to "take" private land for public use, through the process of
- condemnation, and eminant domain
- Base line
- an east west or geographers line selected as a basic reference in the rectangular survey system
- Riparian
- the right of an owner to use water from a stream for his own use
- In a community property state such as Texas, the husband and wife
- may leave their 1/2 ownership to anyone by a will
- fee simple
- the largest, most complete bundle of rights one can hold in land, land ownership