Chapter 2 VOCAB

A form of co-ownership that includes the right of survivorship. Tenants must share possession, interest, time, and title

The rights of owners bordering large bodies of water such as oceans and lakes to access of that body of water

Right to occupy one or one of several units for a least 5 nonconsecutive periods over 5 years, whether freehold or not.

The power of government to take title to property left by a person who has died without leaving a will or qualified heir

A personal right of use in the land of anther without the requirement that the holder of the right own adjoining land

A nonpossessory right of use in the land of another

A general lien resulting from a court decree

A court action to end co-ownership. Based on the percentage owned. A court may order sale & proper division of proceeds

An inheritable freehold estate in land that is the greatest form of real property ownership

All rights or privileges that result from ownership of a particular property and must move with the title

Literally "lawsuit pending." Notice of pending litigation whose outcome potentially affects title to all or part of prop

The right of an owner to receive the title to a co-owner's share upon death of the co-owner, such as in joint tenancy

One easement obtained by open, continuous, and uninterrupted use without the owner's permission

A right of use in the adjoining land of another that moves with the title to the property benefiting from the easement

Nonfreehold estate. An estate of limited duration and provides the right of possession and control, but not title.

A sudden loss of land, usually caused by water, removing soil or land from one property and being deposited to another

A form of co-ownership limited to husband & wife with right of survivorship. Properties purchased after marriage occurs

An interest in land of at least a lifetime and is therefore generally identified with the concept of title or ownership

All the corporeal and noncorporeal attributes of real estate that can be inherited

One holding a life estate

The increase of land around a lake that result from loss in water

Growing things on real estate that require planting each season and cultivation. Typically considered personal property

Personal property that has become real property by having been permanently attached to real property

The gradual addition of land to a property by natural forces, such as the deposit of soil or sediment by a body of water

Freehold estate created for the duration of the life or lives of certain named person or persons. Noninheritable estate

Personal property growing in soil that requires planting and cultivation. Former owner's right to the crops they planted

Transfer of title to real property

Those estates created by the exercise of the right of dower, courtesy, or a statutory substitute

Form of ownership in which stock-holders in a corporation occupy property owned by the corporation under a lease

"For the life of another." A life estate measured by the life of a 3rd party / someone other than the life tenant

A return of title to the holder of a future interest, such as the grantor in a life estate not in remainder

A nonfreehold estate in the area below the surface of the land

The land which is encumbered by an easement which that must allow adjacent land to use a portion for access

A claim that one has against the property of another for some debt or charge that entitles claimant to debtors property

Statutory liens available to persons supplying labor or material to the construction of improvements on land if not paid

Distribution of property by descent as provided by statute

A legal test to determine if an item is a fixture or not. All 4 (intent, method, adaption, relationship) must be applied

The power of government to regulate the use of real property for the benefit of the public interest

Land benefiting from an appurtenant easement

An interest in real property sufficient to give the owner the right to possession of real property

Legislation passed in 1986 that set requirements for the sale or resale of condos. Includes a 7 day right of rescission

A dwelling unit in a housing complex in which the owners own the unit & land under the unit, while HOA owns common areas

A legal proceeding dividing property of co-owners so each holds title in severalty to a specific portion of the property

A type of ownership or estate in which only one person holds title to a piece of real property

Land and all corporeal and noncorporeal rights in land

Rights of an owner of a freehold estate to disposition, enjoyment, exclusion, possession, and control of real property

The land between the high and low mean watermarks

One having a future interest in a life estate

The exercise of the power of eminent domain. The taking of private property for public use by paying just compensation.

A trespass on the land of another as the result of an intrusion by some structure or other object

Rights in the air space above the surface of the land

An estate of less than freehold, i.e. rental properties

The process of changing items from personal property to real property

A claim, lien, charge, or liability attached to and binding upon real property

A form of ownership of real property that has individual ownership of some aspects and co-ownership of other aspects

Special class of common areas in a condo project that is reserved for use by one or more units with exclusion of others

The rights of an owner of property adjoining a watercourse such as a river, including access to and use of the water

The process of changing items from real property to personal property

The right of a life tenant or lessee to cut timber on the property for fuel or to use in making repairs

Title to real property is held by 2 or more persons at the same time. Also called "concurrent ownership"

A standardized and comprehensive set of commercial laws regulating security interests in personal property

The right of land to be supported in its natural state by adjacent land

Growing things that do not require planting or cultivation but grow naturally & are perennial. Real property if in soil.

A common wall used by two adjoining structures