Chapter 1 Real property characteristics, legal descriptions and

Chapter 1 Real property characteristics, legal descriptions and property use Flashcards John owns the dominant essay with an easement appurtenant. John sells the property what happens to the easement?It belongs to the buyer What can you request if your property violates zoningA variance The process of real property becoming personal will be described Severance When is structure an improvement over labs our trespasses onto another property it is a?Encroachment Fixtures installed by a tenant in order to carry out a business are known as Trade fixtures An example of a fixture would beA shower head Land has four economic characteristicsscarcity, modification, fixity, situs What type of legal description use terminal points and angles in always have a point of beginning. Sometimes called termination point Meets and bound A property use granted by the zoning committee or deed restrictions that benefits the neighborhood is calledA.POAB. A non-conforming useC. A conditional useD. A variance A conditional use. A conditional use benefits the neighborhood like an elementary school in a subdivision The local government has changed property use from commercial to R -1 (single-family residential) in your neighborhood. This is an example of the right of Police power ________ is the most common example of police powerZoning modification exampleA physical change to a residence or to the common areas of a building to allow individuals with disabilities equal use and enjoyment of housing What is scarcity?the state of being scarce or in short supply; shortage.Who would a variance affectResidential neighborhood zones The government will take property under the right of _____ if an owner dies both without a wheel and without heirs they will also take abandon property Escheat Ownership of personal property is transferred by Bill of sale A developer has 200 acres of land and plans a residential subdivision. The surveyor has prepared the plat and the developer has recorded it. He will sell individual parcels of land to builders. What type of legal description is most likely to be included in those sales Lot and block eminent domainthe right of government to take private property for public use through condemnation

What is situsLocation preference, economic preference for a certain location or characteristic that affects land value.What is an easementthe right to use land for a specific and limited purpose What is Personal propertyIs it right or interest in something of a temporary or most movable nature and includes anything not classed as real property also known as title or personalty To enforce a deed restriction by the seller the court will issue an _____ Injunction What is fixityan economic characteristic of land where land and buildings and other improvements to land are considered fixed or permanent investments -- THEY ARE NOT LIQUID

ASSETS.

The government has the right toHas the right to regulate special land types for the public or including coastal properties and wetlands Implements are considered personal property or real property Personal property A PUD zone allows for a higher population density with houses clustered together, leaving more green area open for parks and recreation. What May apply to property owners in a PUD An extra tax may apply the property owners in a PUD When a property has an easement appurtenant The easement limits the servants essay What can a seller/buyer do if an agent abandoned themThey have the right to hire another agent as it has automatically terminated What is an encumbranceIs a limit on a property or a limit on a property's owners rights that may or may not also be a cloud on the title And item that was once personal property but has now been annexed (attached) in such a way that it has become real property is called A fixture When an encroachment exist on a listed property what are the rules of the agents involved The listing agent discloses encroachment in the buyers agent recommend a survey If an individual forces the government to buy his or her property this is called Inverse condemnation work Deed restrictions are ______ in most cases and do not expire Permanent What are Improvements to the landMan's addition to the land, any fixed structures such as buildings, fences, walls, and decks What is the highest priority lean on real propertyProperty taxes (ad valorem)