The earth's surface extending downward to the center of the earth and upward into space, including all things permanently attached, is know as - ✔✔
... [Show More] Real Estate
Movable objects, which are not considered real estate, are known as - ✔✔ Personal Property
The permanent right to use another's land for the benefit of a neighboring parcel is known as - ✔✔ An Appurtenant Easement- an easement for adjacent properties or neighbors, which run with the land. (Think of the A's - Appurtenant = Adjacent of Another)
The ownership of property by one person only is known as - ✔✔ severalty
A condensed history of title to a particular piece of real estate, including a summary of the original grant, and all subsequent conveyances and encumbrances affecting the property, is known as - ✔✔ abstract of title
The illegal practice of inducing homeowners to sell their properties by making representations about the prospective entry of persons of a certain race/national origin into the neighborhood is also called - ✔✔ Blockbusting- trying to induce or force people to move out of their neighborhood or BLOCK
The term for something that grants the right to use another's land for a specific purpose, and is considered an incorporeal interest in land is - ✔✔ Easement
The clauses in a deed that limit the future uses of a property are known as - ✔✔ deed restrictions
The loss of value in any property, regardless of the specific cause, in an appraisal, is known as - ✔✔ depreciation
A person who has complete control over a parcel of real estate is said to own a - ✔✔ fee simple estate
The law that requires real estate contracts to be in writing to be enforceable is the - ✔✔ statue of frauds
The effort that brings about the desired result in a real estate sale is known as - ✔✔ procuring cause
A naturally occurring gas that is suspected of causing lung cancer is known as - ✔✔ radon
A claim or liability attached to a property is called - ✔✔ an encumbrance- Restrictions, liens, and buyer's claims are all forms of encumbrances
In an appurtenant easement, the party that benefits is known as the - ✔✔ dominant tenement
An encumbrance that affects the title, usually related to money, is known as - ✔✔ a lien
A recorded legal document that gives constructive notice that an action affecting a certain property has been filed in court is called - ✔✔ lis pendens- "litigation pending"
This document that defines the relationship between the real estate firm and the seller is the - ✔✔ listing agreement
The rights of a landowner to use waters of an adjacent stream or river are known as - ✔✔ riparian rights- River and Riparian
The rights of a landowner to use waters of an adjacent lake or ocean are known as - ✔✔ littoral rights- Lake and Littoral
A claim or interest revealed by a title search is called a - ✔✔ cloud on title
When the amortized payment of a mortgage remains constant over the period of the loan but leaves an outstanding balance to be paid at the end, this payment is called - ✔✔ a balloon payment
The process in which boundaries are measured and land areas determined is called - ✔✔ a survey
An estimate of the value of something, usually a property, is known as - ✔✔ an appraisal
A lien placed on the property without the consent of the owner is known as a(n) - ✔✔ involuntary lien
This type of lien is created by law. It is known as - ✔✔ a statutory lien
The type of lien that is secured by specific property and only affects that property is known as - ✔✔ a specific lien
The system established in 1785 by the U.S. government, which describes land with principal meridians and base lines, is called - ✔✔ rectangular survey system
A listing contract under which the broker's commission is contingent upon his producing a ready, willing, and able buyer before the property is sold by the seller or another broker is known as - ✔✔ an open listing
A portion of a township under the rectangular survey system, which is a square with mile-long sides, is called a - ✔✔ section
The type of easement that is necessary for another person to enter his own land by going through another's property is known as - ✔✔ an easement by necessity
A contract in which all the parties have fulfilled all their promises and performed the contract is known as - ✔✔ an executed contract
An oral contract in which the parties state the contract's terms and express their intentions in words is known as - ✔✔ an expressed contract
The type of depreciation caused by outside factors, which are external to the property, is known as - ✔✔ external obsolescence
The benefit, interest or value that induces a promise, and the glue that binds a contract, is known as - ✔✔ consideration [Show Less]