intestate without a will or heirs

Arizona Real Estate Vocabulary Flashcards treasurer's deedissued after tax forecloser sale and after 10yrs the property is sold by the government tangibletouch it feel it lease, promissory note, objects etc....riparian rightsriver and stream rights allodial systemBundle of rights escheatreversion of property to state if property owner dies intestate without a will or heirs beneficial usedomestic or house hold use improvementsValuable addition made to property that amount to more than repairs costing labor and capital, intended to enhance the value of the property of extend the useful remaining life.Zoninggovernment regulations water rightsprior appropriation urbanCity area RegressionA principle of appraisal stating that, between dissimilar properties, the worth of the better property is adversely affected by the presence of the lesser-quality property.hereditamentEvery kind of inheritable property including real, personal, corporeal, and incorporeal those things appurtenant to the land.Economic depreciation or social obsolescence Loss of value from causes outside the property (loss of money, it's off your property or can't fix them fixturean article that was once personal property but has been so affixed to real estate that it has become real property.CarrybackFinancing in which the seller takes back a note for part of the purchase price and is secured by a junior mortgage(second or third mortgage), wraparound mortgage, or contract for deed(between seller and buyer).groundwaterWater under the surface of the earth regardless of the geological structure in which it is standing or moving.RevocationAct of terminating, canceling, or annulling an offer, as when a seller revokes a broker's agency by canceling the listing (for cause) prior appropriationfirst in time first in right; theory is that if available water were equally divided among all potential users. there would not be adequate supply to produce anything.neighborhood planREI ProgressionA principle of appraisal, which states that the worth of a lesser object is increased by being located among better objects. Opposite of regression

ChattelAn item of tangible personal property (chattel evolved form cattle) littoralLakes ponds seas and streams ad valoremLatin for "According to valuation" in real property tax is an ad valorem tax based on the assessed valuation of the property.Private controlsdeed restrictions appurtenantruns with the land or belongs to; adjunctive; appended; or annexed to.intangiblerights and relationships trademarks, patents, etc....Variancehardship permission obtained from government zoning authorities to build a structure or conduct a use that is expressly prohibited by the current zoning laws general plancity grid with master plan for next 25 years well planned communities Acre footA volume of water, sand, or minerals equal to an area of one acre with a depth of one foot(43560 cubic feet); used in measuring irrigation water. If liquid, it equals 325,850 gallons.Agreement for saleTerms that transfer ownership from one to another. In real estate, the agreement of sale (purchase agreement) includes agreements about price, timing, and interest.incorporealrights and relationships- non physical intangible or nonpossessory rights in real property, IE easements, licenses, profits etc....personal propertypersonalty or chattel - things that are tangiable and moveable corporealtouch it feel it tangible eminent domainthe rights of the government to take private property for pubic use and you must sale to the government.RenunciationWhere the agent fires the seller usually happens because of non-cooperation of the seller.propertyrights or interest a person owns in a thing real estate or personal SubstitutionA principle of value stating that the maximum value of a property tends to be set by the cost of acquiring, through purchase or construction, an equally desirable and valuable substitute property, assuming no costly delay is encountered in making the substitution.caissonThe foundation supports for a building.natural fruitsis personal until you sell your property.situs (law of)location (the place where something is held to be located by law Industrial Friutscash crops

landthe real estate and real property surface on which the property is built.police powerEnabling legislation government helps them selves; regulate limit confiscates, regulates, and limits (condemnation) emblementsare regarded as personal property even before harvest; thus a tenant has the right to take the annual corp resulting from his labor, even if the harvest does not occur until after tenancy has ended.arrearsState of being delinquent in paying a debt or at or after the end of the period for when if due of levied.surface waterwater falling on the land from storm property owners let flow through their yards on to a lot below as long as it's in sheet form.tenementsmanmade structures buildings assessora public official who appraises property for tax purposes on the assessed value.Contract for SaleAka Purchase Money Mortgage or Deed of Trust- A contract for the purchase and sale of real property in which buyer agrees to purchase fro a certain price and the seller agrees to convey title by way of a deed or an assignment of lease(for leasehold property).air rightsrights to the use of open space or vertical plane above a property assessmentan official valuation of real property for tax purposes based on appraisals by local government officals; assessed value.trade fixturefixture attached used in business or trade real estateThe physical land; same as real property