Consists of:
the land itself, airspace above the land, mineral rights, improvements of and to the land, fixtures, fructose naturals, water rights,
... [Show More] appurtenances, easements, and interests, benefits and ownership rights - correct answer What is the nature of real property?
All property that is not real property - correct answer What is the nature of personal property?
- correct answer What are the basic elements and principles that govern the real estate market?
- correct answer What are the main types of real estate in the marketplace?
- correct answer What methods are used to describe land?
Bundle of rights - correct answer Legal rights that accompany real property ownership
can - correct answer When ownership powers are sold, it can/cannot affect the value of the underlying real estate.
JUST READ - correct answer Bundle of Rights Includes Right to:
possess property
control property within legal limits
enjoy property and use it in any legal manner
exclude others from entering or using the property
encumber the property, as with a mortgage
dispose of the property by sale, will, or other transfer
Surface Rights - correct answer consists of the legal right to control, occupy and use the surface area of a parcel of real estate (the land)
Air rights - correct answer legal right to control, occupy, and use airspace above a parcel of real estate
- correct answer right to explore, drill, or dig below the surface for minerals and water - These pass with transfer of property unless otherwise specified in the deed
Deed - correct answer document that transfers ownership
improvements - correct answer additions made to property that are intended to enhance its value (but only if this is done right)
fixtures - correct answer articles that were once personal property but have been affixed to real estate so as to become real property
- correct answer If an object was specially adapted to made to suit a particular or unique feature of a building, then it is classified as a fixture (house key, custom-made drapes, track lighting, etc)
personal - correct answer If a renter replaces his landlord's light fixture with a large chandelier of his own, that chandelier would be the renter's (personal or real property)
littoral land - correct answer property that borders on the shore of a lake, sea or ocean which is affected by tidal currents
littoral rights - correct answer concerned with landowner's right to use and enjoy the water and shoreline
riparian land - correct answer land bordering a moving watercourse such as a stream or river [Show Less]