California Real Estate Principles- Chapter 3

Water Rights

The rights of a land owner and/or land occupier to use adjacent bodies of water in a reasonable fashion.

43560 square feet =

1 acre is equal to how many square feet...?

5280 linear feet

1 mile is equal to how many linear feet...?

Element of fixtures

1. Agreement of the parties(contract) - what's included? 2. Intentions of the parties- did the person who installed the item intend for it to be there permanently or to remove it at a future date? 3. Relationship of the parties to the object- is the individual a tenant or buyer? 4. Adaption/adaptability of the object- how is it being used? Is being used like real property or personal property?

Reversion

A future interest that is retained by the grantor after the conveyance of an estate of a lesser quantum that he/she has.

Personal Property

All property that is NOT considered real property is considered...?

The bundle of rights includes which of the following...? A. The right to possess B. The right to encumber C. The right to quiet enjoyment D. All of the above

D. All of the above

Which of the following is a legal description of land...? A. Lot and Block B. U.S. Government Survey System C. Metes and Bounds D. All of the above

D. All of the above

Which of the following is an element used to determine if something is a fixture or real property...? A. The method of attachment B. The relationship of the parties to the object C. The intention of the parties D. All of the above

D. All of the above

Front Foot

From the street line all the way back into the lot- perpendicular (it's intersecting the lot/building).

Land

Land included, but not limited to, the soil, earth, and ground, that which is the result of nature or man-made, as well as an indefinite extent upward into the air, and downward in a direct line from the surface to the center of the earth.

Real Estate

Land, and generally whatever is erected upon or affixed thereto. Improvements such as buildings, structures, landscaping, fences, etc are included.

Variance

The authorization to improve or develop a particular property in a manner not authorized by zoning is known as...?

Frontage

The linear distance along which a building faces a lot line or a roadway is known as...?

Distance and Direction

What does metes and bounds measure...?

Incorporated

When a city has it's own police department, fire department and library. They have gov that reflects our federal government - 3 branches.

Examples of personal property

possessions such as jewelry, furniture, and boats

Personal property

All property that is not considered real property; all property that is not land or permanently attached to land, excepting trade fixtures and emblements.

Encumbrance

Any rights to or interest in the land interfering with its use or transfer, or subjecting it to an obligation.

Real Property

Land, things affixed to land, and appurtenances that are immovable are considered...?

Contiguous

Lots that touch at any point (even corners).

Trade Fixtures

Removable personal property that a tenant attached to leased land for business purposes is known as a...?

Trade Fixtures

Removable personal property that a tenant attached to leased land for business purposes.

Metes and Bounds

A term used in describing the boundary lines of land, seeing forth all the boundary lines together with their terminal points and angles.

Real Property

That which is immovable. Land, things affixed to land, and appurtenances. Real estate plus the BUNDLE OF RIGHTS.

Lateral and Subjacent support rights

1. Setback restrictions - distance a structure must be placed away from the street. 2. Side yard restrictions- you cannot build a structure all the way up to your property line. There must be some distance away from your neighbors 3. Rear yard restrictions- structure cannot be build all the way to the rear of the property.

Eminent Domain

A right of the government to acquire property for necessary public use by condemnation is known as...?

Fixture

An item of personal property after being attached to real property is known as a...?

Fixtures

An item of personal property after being attached to real property.

contiguous

Lots that touch at any point are known as...?

A fixture or Personal Property?

Method of annexation, adaptation to real estate and agreement between the parties are the legal test for determining whether an item is...

Appurtenances

Something which is outside property itself but belongs to the land and adds to its greater enjoyment such as a right-of-way or a barn or a dwelling.

Riparian Rights

The rights of a land owner or land occupier to use flowing water

Appurtenances

Something which is outside property itself but belongs to the land and adds to its greater enjoyment, such as a right-of-way, is known as...?

Emblements

The distinction between fructus naturalist (stuff that grows out of the ground naturally - ie shrubs) and fructus industrialist (stuff that grows out of the ground as a result of annual cultivation - ie farmer grow corn on lease land, corn belongs to the farmer)

Littoral Rights

The right of a property owner whose land borders on a body of water, such as a lake, ocean or sea, to reasonable use and enjoyment of the shore and water the property borders on.

Variance

The authorization to improve or develop a particular property in a manner not authorized by zoning. Grant an exemption from the regulation/zoning -no historical use.

Zoning

The division of an area into zones, as to restrict the number and types of buildings and their uses is known as...?

Erosion

The eating away of a coastline or land by the action of water, ice, and/or wind, or wearing away of a surface by corrosion or traffic.

Accession

The potential right of ownership to land which is produced, then added or united to the owner's land is known as...?

accession

The potential right of ownership to land which is produced, then added or united to the owner's land.

Accretion

The process of gradual growth or increase over a period of time from naturally occurring events, resulting in additional layers of matter is known as...?

Escheat

The reversion of the State of property in event the owner thereof abandons it or dies, without leaving a will and has no distributees to whom the property may pass by lawful descent is known as...?

The Right of Lateral Support

The right of a land owner to have the natural physical support of the adjoining piece of land.

Police Power

The right of any political body to enact laws and enforce them, for the order, safety, health, morals and general welfare of the public is known as...?

Water Rights

The rights of a landowner and/or land occupier to use adjacent bodies of water in a reasonable fashion are known as...?

Riparian rights

The rights of a landowner or land occupier to use flowing water (such as a river) that is adjacent to the land are known as...?

Bundle of ri

The rights, or interests, that an individual has in a particular piece of property is known as...?

Alienate

The capacity for a piece of property or a property right to be sold or otherwise transferred from one party to another.

Bundle of Rights

The rights, or interests, that an individual has in a particular piece of property. 1) Right dispose 2) Right to encumber 3) Right to possess 4) Right to use 5) Right to exclude others (the right of quiet enjoyment)

special use permit

A permit that allows for a specific exemption to zoning regulations for a particular piece of land in a location that has a particular zoning characteristic. Local zoning authorities grant special-use permits. Ex: Like a day care in a single family home, for certain days and time an exemption is given for special use.

Exceptions to the fixture rule

1. Trade Fixtures - item use in their trade or profession(always regarded as personal property) 2. Emblements - the distinction between fructus naturalist (stuff that grows out of the ground naturally - ie shrubs) and fructus industrialist (stuff that grows out of the ground as a result of annual cultivation - ie farmer grow corn on lease land, corn belongs to the farmer)

Encumbrance

Any right to, or interest, in the land interfering with its use or transfer, or subjecting it to an obligation is known as...?

Zoning

The division of an area into zones, as to restrict the number and types of buildings and their uses. A type of police power and it depends on a cities population density

Non-conforming Use

The historical use whereby an individual would ask to use that property for that historical use, otherwise they will have to endure undue hardship. Cannot enlarge the property. If the property is destroyed, it will have to be rebuilt under the new zoning classification

Frontage

The linear distance along which a building faces a lot or a roadway. The value of a lot or structure on a lot (commercial) depend on the frontage. The more exposure to roadways and streets, the more valuable a commercial building is.

Accretion

The process of gradual growth or increase over a period of time from naturally occurring events, resulting in additional layers of matter.