Milliondollarlisting:Unit 1

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Author:
Milliondollarlisting
ID:
134381
Filename:
Milliondollarlisting:Unit 1
Updated:
2012-02-11 03:46:26
Tags:
Real Estate
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Description:
Tools for california real estate liscencing
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  1. Includes land plus appertances that benefit the land: improvements, rights, priveleges and fixtures.
    Real property
  2. The government controls water rights and grants permits for beneficial use of water, such as irrigation, under the doctrine of
    Prior Appropriation
  3. Flowing water such as rivers, streams and creeks.
    Riparian
  4. Standing water such as lakes and oceans
    Littoral
  5. Water receeds and creates new land (pond drying up)
    Reliction
  6. Water rights include the right of access?
    false: One needs to obtain and easement to do so.
  7. In the modified rule of prior appropriation all adjoining land owners have equal rights to the reasonable use of water. True/False
    True
  8. What is the sudden loss of land through natural causes? (tsunami's)
    Avulsion
  9. What is the gradual loss of land throught natural causes?
    Erosion
  10. What is the addition of land through natural forces?
    Accretion
  11. Taking title to additional property through accretion or attatchment is?
    Accession
  12. Mineral rights can be transfered when property is sold or reserved by seller? True/False
    True
  13. Transfer of real estate is done using which document?
    Grant Deed
  14. Transfer of personal property is done using which document?
    Bill of sale
  15. Anything that "runs" with the land such as a parking spot with a condo purchase is called?
    Appurtenances
  16. Stocks or shares of stocks in a water company are not considered real property? True/False
    False: Stock in a weter company is real property
  17. An item of personal property that is attached to the land in such a manner as to be considered part of the real property.
    Fixture
  18. Most important step in test of fixtures
    Agreement
  19. Annually cultivated crops
    Emblements
  20. Name physical characteristics of land
    • Immobile
    • Indestructable
    • Unique-all parcels differ geographically
  21. Name economic characteristics of land
    • Scarcity
    • Improvements
    • Permanence of investment
    • Area of preferance

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