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Law and Practice Unit 1
Unit 1 Cards
55
Real Estate & Planning
Professional
03/14/2010

Additional Real Estate & Planning Flashcards

 


 

Cards

Term

 

 

 

Adaptation

Definition

 

 

 

specific to individual property (ie house keys)

** adapts to individual property

Term

 

 

 

base line

Definition
Term

 

 

 

building code

Definition
Term

 

 

 

economic survey

Definition
Term

 

 

 

front foot

Definition
Term

 

 

 

land:

Definition

 

 

- surface rights

- sub-surface rights

- air rights

Term

 

 

 

metes and bounds

Definition

 

 

metes= feet/inches/compass degrees

bounds = shape or boundaries

 

Point of begining

 

clockwise

Term

 

 

 

nonconforming use

Definition

 

 

allows owner to continue present use that no longer complies with zoning

 

** may not enlarge or rebuild if destroyed

Term

 

 

 

plat

Definition

 

 

- lot block subdivision system

 

- plat = map showing location and boudaries

 

** most used in urban areas

Term

 

 

 

principal meridian

Definition
Term

 

 

 

real estate

Definition

 

 

includes land plus appurtenances that benefit the land:

- improvements

- rights and privileges

- fixtures

Term

 

 

 

section

Definition



- Section 16 reserved as school


- 1/2 a section = 320 acres

Term

 

 

 

township

Definition

 

 

 

formed by the meeting of ranges and tiers

 

6 miles x 6 miles

 

each contains 36 sections

Term

 

 

 

trade fixture:

Definition

installed necessary part of business


** may remove at lease termination

** if not they become property of land lord

Term

 

 

 

water rights

Definition

 

 

- govt controlled and will grant permits for beneficial use of water

Term

 

 

 

water rights

Definition
Term

 

 

 

zoning amendment

Definition

 

 

zoning change for an entire area

 

- could cause non conforming use

Term

 

 

 

air rights

Definition

 

 

- Government controled

- Owners may not interfere

Term

 

 

 

attachment:

Definition

intent evidence


1. permanence of method

-- built-in = fixture

-- free standing = personal property

Term

 

 

 

bench mark

Definition
Term

 

 

 

conditional use permit

Definition

 

 

type of variance allowing for certain use (church, school)

Term

 

 

 

fixture

Definition

 

 

an object that was once personal property, which has been attached to an improvement so as to become real estate

Term

 

 

 

improvements:

Definition

 

 

 

items affixed to the land with the intent of being permanent

 

i.e. house, fence

 


Term

 

 

 

master development plan

Definition
Term

 

 

 

mineral rights

Definition

 

 

may be transfered when property is sold

Term

 

 

 

personal property

Definition

 

 

- all property that is not real property

- transfered by bill of sale

Term

 

 

 

point of beginning

Definition
Term

 

 

 

range

Definition

 

 

 

vertical row of townships (north-south)

Term

 

 

 

rectangular survey system

Definition

 

 

 - ranges & tiers

 

townships, sections

Term

 

 

 

setback requirements

Definition
Term

 

 

 

township tier

Definition

 

 

 

horizontal row of townships

Term

 

 

 

variance

Definition
Term

 

 

 

zoning

Definition
Term

 

 

 

two types of property

Definition

 

 

 

1. real property (land and affixtures)/ not liquid

2. personal property (anything attached)

Term

 

 

 

5 types of rights and interests in the land

Definition

 

 

1. air rights

2. water rights

3. mineral rights

4. oil and gas rights

5. support rights

Term

 

 

 

Tests for distinguishing fixtures from personal property

Definition

 

 

1. method of attachment

2. adaptation of the itme to the realty

3. relationship of the parties

4. provisions in a written agreement

Term

 

 

 

economic characteristics that help determine land value

Definition

 


1. scarcity

2. improvements

4. permanence of investment

5. area preference

Term

 

 

 

2 things that can be used to establish and find property boundaries

Definition

 

 

1. ILC (Improvement Location Certificate)

2. A Survey

Term

 

 

 

3 major types of legal descriptions of land:

Definition

 

1. metes and bounds

2. recorded plat

3. rectangular survey

Term

 

 

 

purpose of land use controls

Definition

 

 

 

to alleviate problems caused by haphazard, unplanned growth of urban areas, and to promote more rational development in the future.

Term

 

 

 

Buffer Zone

Definition

 

 

separates areas with incompatible uses

Term

 

 

 

building codes

Definition

 

 

protect the public health and safety

Term

 

 

certificate of occupancy

Definition

 

 

issued once building complies with codes

Term

 

 

 

nonconforming use

Definition

 

 

use that was already legally in place when a new zoning ordinance came into effect, but does not comply with the requirement s of the new law.

 

** cannot be rebuilt if destroyed

Term

 

 

 

variance

Definition

 

 

 

permission to build a structure or use property in way that would not otherwise be allowed.

 

** usually granted if zoning would otherwise cause hardship

Term

 

 

 

conditional use permit

Definition

 

 

 

for uses that would ordinarily not be allowed

Term

 

 

 

doctrine of prior appropriation

Definition

 

- govt granted water rights:

 

1. riparian (r=river, flowing)

2. littoral (l=lake still)

Term

 

 

 

chattel

Definition

 

 

personal property

Term

 

 

test for intent

Definition

 

 

was the object affixed or installed with the apparent intent of improving the land

Term

 

 

 

intent evidence (3 A's)

Definition

 

 

1. Attachment

2. Adaptation

3. Agreement

Term

 

 

 

emblements

Definition

 

 

 

crops

Term

 

 

physical characteristics that help determine land value

Definition

 

 

 

- immobile

- indestructinle

- unique

Term

 

 

 

1 acre=

Definition

 

 

 

43,560 Sq feet

Term

 

 

 

5 land use classifications

Definition

 

1. Residential

2. Commercial

3. Industrial/Manufacturing

4. Agricultural

5. Mixed

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