pa real estate complete-copy2016

defeasible fee estate

(or fee simple defeasible estate) is a qualified estate that is subject to the occurrence or nonoccurrence of a specified event. Two categories of defeasible estates exist: fee simple determinable and fee simple subject to a condition subsequent.

appurtenance/附属物

(runs with the land) is a right or privilege associated with the property, although not necessarily a part of it. Typically include parking spaces in multiunit buildings, easements, water rights, and other improvements. Ownership normally transfers to the new owner when the property is sold.

developer

(who may also be a subdivider) improves the land by building streets and constructing homes or other buildings on subdivision lots.

trade fixture

A special category of fixtures includes property used in the course of business. An article owned by a tenant and attached to a rented space or building or used in conducting a business. must be removed on or before the last day the property is rented. The tenant is responsible for any damage caused by the removal.

easement by necessity

An easement that is created when an owner sells a parcel of land that has no access to a street or public way except over the seller's remaining land. is created by court order based on the principle that owners must have the right to enter and exit their land—the right of ingress (enter) and egress (exit); they cannot be landlocked. Remember, this form of easement is called an easement by necessity; it is not merely for convenience.

severance

An item of real property can become personal property. For example, a growing tree is real estate until the owner cuts it down, literally severing it from the real estate. Similarly, an apple becomes personal property once it is picked from a tree.

emblements

Annual cultivated crops of fruit, vegetables, and grain, or known as fructus industriales, and are generally considered personal property.

chattel/动产

Items of personal property,include such tangibles as chairs, tables, clothing, money, bonds, and bank accounts

township

Land parallel to meridians and base lines is divided into ranges and these, respectively, forming imaginary squares. Each of these contains 36 sections.Pennsylvania does not describe land using the rectangular survey system.

certificate of occupancy

Once the completed structure has been inspected and found satisfactory, the municipal inspector issues this.

environmental impact statement (EIS)

These statements detail the impact that the project will have on the environment. They can include information about air quality, noise, public health and safety, energy consumption, population density, wildlife, vegetation, and the need for sewer and water facilities. Increasingly, these statements are also being required for private development.

doctrine of prior appropriation

Under this doctrine, the right to use any water, with the exception of limited domestic use, is controlled by the state rather than by the landowner adjacent to the water.

nonhomogeneity

Uniqueness

formaldehyde

a colorless chemical with a strong, pronounced odor, is used widely in the manufacture of building materials and many household products because of its preservative characteristics. Often emitted as a gas, it is one of the most common and problematic volatile organic compounds (VOCs) and is one of the few indoor air pollutants that can be measured. It was listed as a hazardous air pollutant in the Clean Air Act Amendments of 1990.

planned unit development (PUD)

a development where land is set aside for mixed-use purposes, such as residential, commercial, and public areas. Zoning regulations may be modified

improvement

affect the land's value as well as the use of neighboring tracts and whole communities.

benchmark

are permanent reference points that have been established throughout the United States. They are usually embossed brass markers set into solid concrete or asphalt bases. While used to some degree for surface measurements, their principal reference use is for marking datums.

land

defined as the earth's surface extending downward to the center of the earth and upward into space, including permanent natural objects such as trees and water. includes not only the surface of the earth but also the underlying soil. It refers to things that are naturally attached to the land, such as boulders and plants. It includes the minerals and substances that lie far below the earth's surface.

easement by condemnation

is created under the government's right of eminent domain. This easement is acquired for a public purpose. As with any other condemnation proceeding, the owner of the affected property must be properly compensated for the easement.

real estate

is defined as land at, above, and below the earth's surface, and all things permanently attached to it, whether natural or artificial -

base line

run east and west.

water table

the natural level at which the ground is saturated. It may be several hundred feet underground or near the surface. When the earth's natural filtering systems are inadequate to ensure the availability of pure water, any contamination of underground water threatens the supply of pure, clean water for private wells or public water systems. Numerous state and federal laws have been enacted to preserve and protect the water supply.

mine subsidence

the process of downward land shifts due to the collapse of underground mine shafts and groundwater flows, usually resulting in sinkholes or troughs. Damage to structures may be functional, structural, or cosmetic.

point of beginning (POB)

also the point of ending (POE), but often only the POB is used in describing the property. From there, the surveyor proceeds around the property's boundaries. The boundaries are recorded by referring to linear measurements, natural and artificial landmarks (called monuments), and directions. A metes-and-bounds description always ends back at the POB so that the tract being described is completely enclosed.

accretion

increases in the land resulting from the deposit of soil by the water's action.

eminent domain

is the right of the government to acquire privately owned real estate for public use.

easement

is the right to use the land of another party for a particular purpose. It may exist in any portion of the real estate, including the airspace above or a right-of-way across the land.

accession/加入

it is a mode of acquiring property that involves the addition of value to property through labor or the addition of new materials.它是获取涉及劳动或添加新材料的附加的价值财产性质的模式。

density zoning

restrict the average maximum number of houses per acre that may be built within a particular subdivision.

rectangular survey system

sometimes called the government survey method, was established in 1785 to standardize the description of land acquired by the newly formed federal government. By dividing the land into rectangles, the survey provided land descriptions by describing the rectangle(s) in which the land was located. Pennsylvania does not describe land using this

fee simple subject to a condition subsequent

the second type of fee simple defeasible estate, is similar to fee simple determinable in that an owner gives real estate, on condition of ownership, but it differs in the way the estate will terminate if there is a violation to the condition. While in fee simple subject to a condition subsequent, the estate does not automatically terminate upon violation of the condition of ownership. The owner has the right of reentry but must go through the court to assert this right.

carbon monoxide

a colorless, odorless gas that occurs as a by-product of burning fuels such as wood, oil, and natural gas, owing to incomplete combustion. quickly absorbed by the body, where it inhibits the blood's ability to transport oxygen, resulting in dizziness and nausea. As concentrations increase, the symptoms become more severe, and death may occur within a short time. More than 300 deaths from this occur each year, with thousands of others requiring hospital emergency room care.Furnaces, water heaters, space heaters, fireplaces, and wood stoves all produce this

dedication

is a voluntary transfer of private property by its owner to the public for some public use, such as for streets, schools, or parks. Developing is generally a much more extensive activity than subdividing.

building codes

Most municipalities have enacted ordinances to specify construction standards that must be met when repairing or erecting buildings. In Pennsylvania Building codes are generally local in nature, with each municipality and city exercising its regulatory right to adopt codes specific to construction within those political subdivisions. For example, only 1,100 of Pennsylvania's 2,567 municipalities have had any kind of construction code. Safety experts have contended that these conditions also compromise personal safety for both building occupants and fire fighters. The Pennsylvania Construction Code Act became effective July 2004. The Act prescribes standards consistent with those nationally recognized by the Building Officials and Code Administrators International, Inc. (BOCA) and encourages the use of state-of-the-art construction methods and systems and eliminates existing codes that are conflicting, obsolete, or overly restrictive

radon

a naturally occurring, colorless, odorless, tasteless, radioactive gas produced by the decay of other radioactive substances. It is measured in picocuries contained in a liter of air (i.e., pCi/L). It is found in every state and territory with its levels in the outdoor air averaging 0.4 pCi/L. Fans and thermal "stack effects" (i.e., rising hot air draws cooler air in from the ground through cracks in the basement and foundation walls) pull it into buildings.

enabling acts

allow the power to enact laws authorized by the state's police power to be passed down to municipalities and other local governing authorities. Such regulations must be exercised in a reasonable manner and be clear and specific, nondiscriminatory, and applicable to all property in a similar manner.

inverse condemnation

an action brought by a property owner seeking just compensation for land taken for a public use where it appears that the taker of the property does not intend to bring eminent domain proceedings. The property is condemned because its use and value have been diminished because of an adjacent property's public use. For example, property along a newly constructed highway may be inversely condemned. Although the property was not used in constructing the highway, its value may be significantly diminished due to the construction of the highway close to the property. The property owner may bring an inverse condemnation action to be compensated for the loss.

air lot

are composed of airspace within specific boundaries located over a parcel of land.

appurtenant easement

is attached to the ownership of one parcel of land and allows the owner the use of a neighbor's land. For an appurtenant easement to exist, two adjacent parcels of land must be owned by two different parties. The parcel over which the easement runs is known as the servient tenement; the neighboring parcel that benefits is known as the dominant tenement. An appurtenant easement is part of the dominant tenement, and if the dominant tenement is conveyed to another party, the easement transfers with the title. This type of easement is said to "run with the land." It is an encumbrance on property and will transfer with the deed of the dominant tenement forever, unless the holder of the dominant tenement legally releases that right.

erosion

is the gradual and imperceptible wearing away of the land by natural forces, such as wind, rain, and flowing water. Fortunately, erosion usually takes hundreds or even thousands of years to have any noticeable effect on a person's property. Flash floods or heavy winds, however, can increase the speed of erosion.

personal property

sometimes called personalty, is all property that can be owned and does not fit the definition of real property.

groundwater

ater that exists under the earth's surface within the tiny spaces or crevices in geological formations

fee simple

(also called fee simple absolute) is the highest interest in real estate recognized by law. is ownership in which the owner is entitled to all rights to the property by law. This estate is intended to run forever; upon the death of its owner, it passes to the owner's heirs. It is limited only by public and private restrictions, such as zoning laws and restrictive covenants.

conditional-use permit

(also known as a special-use permit) is usually granted to a property owner to allow for a special use of a property that is defined as an allowable conditional use within that zone, such as a house of worship or daycare center in a residential district. In Pennsylvania The State Real Estate Commission's regulations require the disclosure of the current zoning classification for certain types of properties in an agreement of sale.

water rights

are special common-law rights held by owners of land adjacent to rivers, lakes, or oceans and are restrictions on the rights of land ownership. particularly important rights in drier western states, where water is a scarce and valuable public commodity.

easement by prescription

If the claimant has made use of another's land for a certain period as defined by state law, an easement by prescription, or a prescriptive easement, may be acquired. The prescriptive period ranges from 10 to 21 years. The claimant's use must have been continuous, exclusive, and without the owner's permission. The use must be visible, open, and notorious, and the owner must have been able to learn of it. Prescriptive easements cannot usually be acquired on public land. The concept of tacking provides that successive periods of continuous occupation by different parties may be combined (tacked) to reach the required total number of years necessary to establish a claim for a prescriptive easement. To tack on one person's possession to that of another, the parties must have been successors in interest, such as an ancestor and the ancestor's heir, a landlord and a tenant, or seller and buyer. In Pennsylvania An easement by prescription may be claimed by the person who has made use of another's land for at least 21 years. The claimant's use must have been continuous, exclusive, without the owner's approval, as well as visible, open, and notorious; that is, the owner must have been able to learn of it. An easement by prescription is awarded if the claimant meets all the requirements and provides sufficient proof in court.

section

Land parallel to meridians and base lines is divided into ranges and townships, respectively, forming imaginary squares, known as townships. Townships are further divided into these. each of these is one mile square or 640 acres. These descriptions frequently combine with metes-and-bounds or lot-and-block descriptions to define smaller or irregularly shaped parcels of land. Again, Pennsylvania does not describe land using the rectangular survey system.

comprehensive plan

Local governments establish development goals, also known as a master plan. is not a regulatory document but is rather a guide to planning for change rather than reacting to proposals. usually is long term, perhaps 20 years or longer, and often includes (a) a general plan that can be revised and updated more frequently, (b) plans for specific areas, and (c) strategic plans. Systematic planning for orderly growth consists of the following basic elements: - Land use, including that which may be proposed for residence, industry, business, agriculture, traffic and transit facilities, utilities, community facilities, parks and recreation, floodplains, and areas of special hazards - Housing needs of present and anticipated future residents, which may include rehabilitation in declining neighborhoods and accommodation of new housing in different dwelling types for households in all income levels - Movement of people and goods, which may include highways and public transit, parking facilities, and pedestrian and bikeway systems - Community facilities and utilities, which may include education, libraries, hospitals, recreation, fire and police, water resources, sewerage and waste treatment and disposal, storm drainage, and flood management - Energy conservation to reduce energy consumption and promote use of renewable energy sources In Pennsylvania The Pennsylvania Municipalities Planning Code contains laws governing the planning process. Municipalities are authorized to establish a comprehensive plan, zoning ordinances, and subdivision regulations to govern land use within their jurisdictions.

asbestos

a fire-resistant mineral that was once used extensively as insulation and to strengthen other materials. Abandoned in 1978. was used to cover pipes, ducts, and heating and hot water units. Its fire-resistant properties made it a popular material for use in floor tile, exterior siding, roofing products, linoleum flooring materials, joint compounds, wallboard material, backing, and mastics.

impact fees

are charges made in advance to cover anticipated expenses involving off-site capital improvements such as expanding water and sewer facilities, additional roads, and school expansions. In Pennsylvania Adequate water supplies and environmentally sound sewage disposal are major issues in Pennsylvania land development. Ordinances frequently require that water be supplied by a certificated public utility unless the individual lots within a subdivision can be properly served by private wells. To protect streams, rivers, and underground water supplies from pollution, sewage disposal must comply with Pennsylvania Department of Environmental Protection (DEP) regulations for community and individual sewerage systems. DEP may not permit septic systems where the soil's absorption or drainage capacity, as determined by a percolation test, precludes their use In Pennsylvania Generally, the developer is responsible for installing streets within a subdivision (known as on-site improvements) and the municipality is responsible for off-site improvements. As development increases, the demand for highways, roads, and streets increases as well, often stressing municipal budgets. To help defray the cost, the Pennsylvania Municipalities Planning Code permits the governing body to charge impact fees to fund off-site public transportation improvements.

underground storage tanks (USTs)

are commonly found on sites where petroleum products are used or where gas stations and auto repair shops are or were located. They also may be found in a number of other commercial and industrial establishments, including printing and chemical plants, wood treatment plants, paper mills, paint manufacturers, dry cleaners, food processing plants, and chemical storage or process waste plants. Military bases and airports are also common sites for these. In residential areas, they are used to store heating oil.

brownfields

are defunct, derelict, or abandoned commercial or industrial sites, many of which are suspected to contain toxic wastes. According to the U.S. General Accounting Office, several hundred thousand are plague communities as eyesores and potentially dangerous and hazardous properties, often contributing to the decline of urban property values.

monuments

are fixed objects used to locate the point of beginning (POB), all corners of the parcel or ends of boundary segments, and the location of intersecting boundaries. In colonial times, a monument might have been a natural object such as a stone, large tree, lake, or stream. It also may have been a street, fence, or other marker. Today, monuments are iron pins or concrete posts placed by the U.S. Corps of Engineers, other governmental departments, or trained private surveyors. Measurements often include the words more or less because the location of the monuments is more important than the distances between them. The actual distance between monuments takes precedence over any linear measurements in the description.

electromagnetic fields (EMFs)

are generated by the movement of electrical currents by any electrical appliance: digital clocks, blow dryers, televisions, and computers. It's produced by high-voltage lines, as well as by secondary distribution lines and transformers, have been suspected of causing cancer, hormonal changes, and behavioral abnormalities. There is considerable controversy (and much conflicting evidence) about whether it poses a health hazard. Buyers who are aware of the controversy may, however, be unwilling to purchase property near power lines or transformers. Licensees are cautioned to remain neutral, letting buyers draw their own conclusions.

chlorofluorocarbons (CFCs)

are nontoxic, nonflammable chemicals used as refrigerants in air conditioners, refrigerators, and freezers. CFCs are also used in aerosol sprays, paints, solvents, and foam-blowing applications. Although CFCs are safe in most applications and are inert in the lower atmosphere, once CFC vapors rise to the upper atmosphere, where they may survive from 2 to 150 years, they are broken down by ultraviolet light into chemicals that deplete the ozone layer. Global treaties have sought to reduce the production levels of CFCs. The manufacture of these chemicals ended for the most part in 1996, with exceptions for production in developing countries, medical products (e.g., asthma inhalers), and research. Although newer air conditioners use a different product, older appliances may leak CFCs and should be properly disposed of to prevent further leakage. Licensees may wish to advise their buyers to consider upgrading to newer, more energy-efficient and environmentally safe appliances. Only EPA-certified technicians should do any work on a refrigeration system, especially the larger systems found in commercial and industrial buildings. Approved equipment should carry a label reading "This equipment has been certified by ARI/UL to meet EPA's minimum requirements for recycling and recovery equipment."

deed restrictions

are private restrictions that affect the use of the land. Once placed in the deed by a previous owner, they "run with the land," limiting the use of the property and binding to all grantees.

manufactured housing

built at the factory under the following U.S. Department of Housing and Urban Development (HUD) specifications: -Nonremoveable steel chassis -At least 8 feet wide and 40 feet long -At least 320 square feet of living space Capable of being lived in with or without a permanent foundation -Contains a red label indicating that the home has been built in compliance with HUD construction and safety standards defined as motor vehicles and, as such, are sold by licensed motor vehicle salespersons. - transferred in conjunction with and as a part of an assignment of a land lease or the transfer of an interest in land on which the manufactured home is situated - permanently attached to a foundation - registration is canceled by the owner with the Pennsylvania Bureau of Motor Vehicles. If these conditions are met, the home is real estate and may be sold by a real estate licensee.

mold

can be found almost anywhere and can grow on almost any organic substance, so long as moisture, oxygen, and an organic food source are present. Moisture feeds its growth. If a moisture problem is not discovered or addressed, its growth can gradually destroy what it is growing on. In addition, some can cause serious health problems. They can trigger allergic reactions and asthma attacks. Some are known to produce potent toxins and/or irritants.

annexation/合并

change personal property into real property. For example, if a landowner buys cement, stones, and sand and then mixes them into concrete and constructs a sidewalk, the landowner has converted personal property (cement, stones, and sand) into real property (a sidewalk).

polychlorinated biphenyls (PCBs)

consist of more than 200 organic chemical compounds that are not found naturally in nature. These flame-resistant, chemicals were often used in electrical equipment (such as transformers), electrical motors in refrigerators, caulking compounds, and hydraulic oil in older equipment. The EPA has classified it as reasonably carcinogenic, and they have been implicated in lower fertility and shortened life spans. Although the commercial distribution of it was banned in 1979, it does remain in the environment because burning them at more than 2,400 degrees in a closed environment is the only known way to destroy them. it is most likely a concern for commercial and industrial property managers. These managers should ask the local utility company to identify and remove any type of transformer that might be a source of PCBs. If the it does leak into the environment, penalties and removal methods are expensive.

covenants, conditions, and restrictions (CC&Rs)

declarations of conditions and restrictions that affect the use of all parcels of land within a specified development or subdivision plat. typically found in a separate recorded instrument. The deed to each affected property references the plat or declaration of restrictions. typically govern the type, height, and size of buildings that individual owners can erect, as well as land use, architectural style, construction methods, setbacks, and square footage. enforced by the homeowners' association. are private agreements that affect land use. They may be enforced by an owner of real estate and included in the seller's deed to the buyer. Typically, however, restrictive covenants are imposed by a developer or subdivider to maintain specific standards in a subdivision. Such restrictive covenants are listed in the original development plans for the subdivision filed in the public record.

estate in land

defines the degree, quantity, nature, and extent of an owner's interest in real property. Many types of estates exist. However, not all interests in real estate are estates. To be an estate in land, an interest must allow possession, meaning the holding and enjoyment of the property either now or in the future, and must be measured according to time. Historically, estates in land have been classified primarily by their length of time of possession.

factory-built housing

dwellings that are built off-site and trucked to a building lot where they are installed or assembled. includes modular, panelized, precut, and mobile homes. generally considered personal property, even though its mobility may be limited to a single trip to a park or a development to be hooked up to utilities.

real property

includes both land and real estate. It is defined as the interests, benefits, and rights that are automatically included in the ownership of the land and real estate. refers to anything that can be owned.

encumbrance

is a claim, charge, or liability that attaches to real estate. An encumbrance may decrease the value or obstruct the use of the property. In essence, an encumbrance is a right or an interest held by someone other than the property owner that affects title to the real estate but does not necessarily prevent a transfer of title.

plat

is a detailed map that illustrates the geographic boundaries of individual lots. It shows the blocks, sections, streets, public easements, and monuments in the prospective subdivision

legal description

is a detailed way of describing a parcel of land for documents such as deeds and mortgages that will be accepted in a court of law. The description is based on information collected through a survey

fee simple determinable

is a fee simple defeasible estate that may be inherited. This estate is qualified by a special limitation (which is an occurrence or event). The language used to distinguish a special limitation—words such as so long as or while or during—is the key to creating this special limitation. The former owner retains a possibility of reverter. If the limitation is violated, the former owner (or heirs or successors) can reacquire full ownership with no need to go to the court. The deed is automatically returned to the former owner.

plat map

is a map of a town, a section, or a subdivision, indicating the location and boundaries of individual properties. The lot-and-block system is used mostly in subdivisions and urban areas.

datum

is a point, line, or surface from which elevations are measured or indicated. For the purposes of the United States Geological Survey (USGS), this is defined as the mean sea level at New York Harbor. However, virtually all large cities use local official datum instead of the USGS datum. A surveyor would use a datum in determining the height of a structure or establishing the grade of a street.

escheat

is a process by which the state may acquire privately owned real or personal property. State laws provide for ownership to transfer to the state when an owner dies leaving no heirs (as defined by the law) and no will that directs how the property is to be distributed.

easement in gross

is an individual or company interest in right to use someone else's land. This easement benefits a person or an entity rather than the land, as is the case with an appurtenant easement (see the figure that follows). A railroad's right-of-way is an easement in gross, as are the rights-of-way of utility easements (such as for a pipeline or high-tension power line). Commercial easements in gross may be assigned, conveyed, and inherited. Personal easements in gross are usually not assignable. Generally, a personal easement in gross terminates on the death of the easement owner.

conventional life estate

is created by the intentional act of the owner. It may be established either by deed at the time the ownership is transferred during the owner's life or by a provision of the owner's will after death. The estate is conveyed to an individual known as the life tenant. The life tenant has full enjoyment of the ownership until the death of the person against whose life the estate is measured. At this point, the life tenant's rights cease and the ownership passes as a fee simple estate to another designated individual or returns to the previous owner or heirs. Until the life tenant's rights cease, the right to the fee simple estate is known as inchoate, meaning that the right is incomplete or the right exists but is not fully exercised until sometime in the future.

environmental site assessment (ESA)

is often performed on a property to show that due care was exercised in determining whether any environmental impairments exist. The assessment can help prevent parties from becoming involved in contaminated property and work as a defense to liability. It is often requested by a lending institution, developer, or a potential buyer. The assessment is commonly performed in phases, such as Phase 1 or Phase 2.

encroachment

is the illegal extension of a building or a fence that extends beyond the land of the owner. It is usually disclosed by either a physical inspection of the property or a spot survey. As a rule, a spot survey is more accurate and reliable than a simple physical inspection. If a building encroaches on adjoining land, the neighbor may be able to either recover damages or secure removal of the portion of the building that encroaches. Encroachments that exceed a state's prescriptive period, however, may give rise to easements by prescription.

metes-and-bounds description

is the oldest type of legal description. Metes means to measure, and bounds means linear directions. The method relies on a property's physical features to determine the boundaries and measurements of the parcel.

condemnation

is the process by which the government exercises this right, by either judicial or administrative proceedings. When property is taken in this manner, just compensation is to be paid to the owner, and the rights of the property owner are to be protected by due process of law. Ideally, the public agency and the owner of the property in question agree on compensation through direct negotiation, and the government purchases the property for a price considered fair by the owner. In some cases, the owner may simply dedicate the property to the government as a site for a school, a park, or other beneficial use. In cases where the owner's consent cannot be obtained, however, the government agency can initiate condemnation proceedings to acquire the property.

deed restriction

limitations to the use of the property imposed by a past owner or current owner and are binding on future grantees. Examples include a restriction specifying the kind of structure that may be erected on the land, a requirement that the property be used for a specific purpose, or a prohibition of a specific use.

nonconforming use

may be allowed to continue legally as long as it complies with the regulations governing nonconformities in the local ordinance, until the improvements are destroyed or torn down, or until the current use is abandoned.

restrictive covenants

often called covenants, conditions, and restrictions (CC&Rs), are referenced in the plat and contained in a separate recorded instrument. Private land-use controls may be enforced by injunction against the property owner in violation of the covenant or restriction. If there is a conflict with local zoning, generally the more restrictive control applies. Such controls may not be discriminatory.

urea-formaldehyde foam insulation (UFFI)

once popular, then banned, and now legal again, is rarely used. When incorrectly mixed, it never properly cures, resulting in strong emissions shortly after installation. Studies have shown that formaldehyde emissions generally decrease over time, so homes where it was installed many years ago are unlikely to have high levels of formaldehyde now unless the insulation is exposed to extreme heat or moisture. Still, licensees should check their state's property disclosure form to see whether it must be disclosed. Appraisers should also be aware of the presence of formaldehyde. In Pennsylvania Section 35.335a of the Seller Property Disclosure Statement asks whether the sellers are aware of any urea-formaldehyde foam in their property.

encapsulation

or the sealing off of disintegrating asbestos, is an alternate method of asbestos control that may be preferable to removal in certain circumstances. However, an owner must periodically monitor the condition of the encapsulated asbestos to make sure it is not disintegrating.

fixture

personal property that has been so affixed to the land or a building that, by law, it becomes part of the real property. Examples are heating plants, elevator equipment in highrise buildings, radiators, kitchen cabinets, light fixtures, and plumbing. Almost any item that has been added as a permanent part of a building is considered a fixture.

Interstate Land Sales Full Disclosure Act

prevent fraudulent marketing schemes that may arise when land is sold without being seen by the purchasers. The act is regulated by the secretary of HUD through the Office of Interstate Land Sales Registration.

variance

provides relief if zoning ordinances deprive an owner reasonable use of the property. In Pennsylvania The State Real Estate Commission's regulations require the disclosure of the current zoning classification for certain types of properties in an agreement of sale.

Superfund Amendments and Reauthorization Act (SARA)

reauthorized CERCLA, increased the Superfund to $8.5 billion, provided funds for studying the use of new technologies, and required the EPA to assess the risk to human environmental health at every site of the Superfund's list. It also required more citizen and state involvement in each phase of Superfund programs, and authorized the Emergency Planning and Community Right-to-Know Act and required the EPA to revise the Hazard Ranking System (HRS). It created an innocent landowner immunity status. It recognized that, in certain cases, a landowner in the chain of ownership was completely innocent of all wrongdoing and therefore should not be held liable. The innocent landowner immunity clause established the criteria by which to judge whether a person or business could be exempted from liability.

air rights

refer to the empty space above a property, are one type of development right. Before the 20th century, anyone owning property also owned the unlimited air rights above it, as well as the ground beneath it.

area preference

refers not only to geography but also to people's preference for a specific area. based on several factors, such as convenience, reputation, and history. It is the unique quality of these preferences that results in the different price points for similar properties. Location is often considered the single most important economic characteristic of land.

situs

refers not only to geography but also to people's preference for a specific area. based on several factors, such as convenience, reputation, and history. It is the unique quality of these preferences that results in the different price points for similar properties. Location is often considered the single most important economic characteristic of land.

bundle of legal rights

right of possession, right to control the property within the framework of the law, right of exclusion (to keep others from entering or using the property), and right of disposition (to sell, will, transfer, or otherwise dispose of or encumber the property).

principal meridian

run north and south

police power

the inherent authority to create regulations necessary to protect the public health, safety, and welfare. Through enabling acts, states delegate to counties and local municipalities the authority to enact ordinances in keeping with general laws. The increasing demands placed on finite resources have made it necessary for the government to increase its limitations on the private use of real estate. There are now controls over noise, air, and water pollution, as well as population density.

survey

the process by which boundaries are measured by calculating the dimensions and area to determine the exact location of a piece of land. Courts have stated that a description is legally sufficient if it allows a surveyor to locate the parcel. In this context, the word locate means that the surveyor must be able to define the exact boundaries of the property. A street address will not tell a surveyor how large the property is or where it begins and ends. Several alternative systems of identification have been developed to express a legal description of real estate.

zoning ordinances

the regulatory tool that helps communities regulate and control how land is used for the protection of public health, safety, and welfare. implement the comprehensive plan and regulate and control the use of land and structures within designated land-use districts, in part by separating conflicting land uses. If the comprehensive plan is the big picture, zoning is the details. affects such things as - permitted use of land, - lot sizes, - types of structures, - building heights, - setbacks (the minimum distance structures may - be built from streets or sidewalks), - density (the ratio of land area to structure area or population), and - protection of natural resources. annot be static; they must remain flexible to meet the ever-changing needs of society.

subsurface rights

the rights to use the surface of the earth. Subsurface rights are the rights to the natural resources lying below the earth's surface (see the figure that follows). An owner may transfer surface rights without transferring the subsurface rights.

buffer zone

to ease transition from one use to another. typically a strip of land separating land dedicated to one use from land dedicated to another use. For example, landscaped parks, playgrounds, and hiking trails are used to screen residential areas from nonresidential zones. Certain types of zoning that focus on special land-use objectives are used in some areas. In Pennsylvania The governing body of a municipality is responsible for enacting the comprehensive plan, zoning, and subdivision ordinances in accordance with procedures in the Pennsylvania Municipalities Planning Code. The governing body may appoint a planning commission to be responsible for formulating the recommended plans and ordinances. Public hearings must be held before their enactment by the governing body

lot-and-block (recorded plat) description

uses lot and block numbers referred to in a plat map filed in the recorder of deeds office in the county where the land is located. is performed in two steps. First, a large parcel of land is described either by the metes-and-bounds method or by rectangular survey. Once this large parcel is surveyed, it is broken into smaller parcels.

Comprehensive Environmental Response, Compensation, and Liability Act (CERCLA)

was created in 1980. It established a fund of $9 billion, called the Superfund, to clean up uncontrolled hazardous waste sites and to respond to spills. The act created a process for identifying potential responsible parties and ordering them to take responsibility for the cleanup action. It is administered and enforced by the EPA.

Small Business Liability Relief and Brownfields Revitalization Act

was signed into law in 2002. The Law provides funds to assess and clean up these, clarifies liability protections, and provides tax incentives toward enhancing state and tribal response programs. The law is also important for property owners and developers because it shields innocent developers from liability for toxic wastes that existed at a site prior to the purchase of property. In effect, a property owner who neither caused nor contributed to the contamination is not liable for the cleanup.

lead

was used as a pigment and drying agent in alkyd oil-based paint. The federal government estimates that it is present in about 75 percent of all the private housing built before 1978 or in as many as 57 million homes, ranging from low-income apartments to million-dollar mansions.