Real Property Bundle of Rights Flashcards

Real Property & Bundle of Rights Flashcards real estateLand, plus all the things permanently attached to it, naturally or artificially.relictionThe gradual receding of water, which uncovers new land.avulsionThe rapid loss of land.littoral rightsA type of water right granted to land owners whose land borders a closed body of water, such as lakes or oceans.riparian rightsA type of water right granted to land owners whose land borders a river or stream.real propertyReal estate plus the interest, benefits, and rights included with ownership.subsurface rightsThe right to use underground resources such as natural gas and minerals. Also known as mineral rights.right of exclusionThe right to decide who may or may not access the property.air rightsThe right to use the open space above buildings up to a height established by law.right of controlThe owner controls the use of the property.surface rightsA right to use physical components of land, more specifically, land and water rights.right of possessionThe right to occupy a property in privacy, which belongs to the legal title holder.alluvionNew deposits of land that are the result of accretion.right of dispositionThe right to sell or convey the property.erosionThe gradual loss of land due to natural force.accretionA natural process in which water carries rock, sand, and soil and causes land build-up.landThe earth's surface extending downward to the center of the earth and upward to infinity, including permanently attached natural objects.right of enjoymentThe right of the owner to use and enjoy the property in any legal manner.mineral rightsThe right to use underground resources such as natural gas and minerals. Also known as subsurface rights.

property ownershipComes with five basic property rights: right of possession,

right of control, right of exclusion, right of enjoyment, and right of disposition.bundle of rightsThe complexities of property ownership rights.accessionThe increase of land or property due to natural or man-made causes.