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Related Flashcards
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Cards In This Set
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What is define das the earth's surface extending downward to the center of the earth and upward into space, including permanent natural objects such as trees and water
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Land
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What all does LAND include?
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Land thus refers to not only the surface of the earth, but also includes the underlying soil and things that are natually attached to the land, such as boulders and plants. Land also includes minerals and substances below the earth's surface, together with air above the land into space
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What is defined as land at, above, and below the earth's surface, and all things permanently attached to it, whether natural or aritificial?
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Real estate
land plus permanent human-made additions
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What is defined as any artificial thing attached to the land, such as a building or fence, or improvements such as streets, utilities, sewers, and other additions that make it suitable for living?
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Improvements
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What is defined as the physical land or real estate plus the interests, benefits, and rights that are associated with its ownership?
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Real property
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Bundle of rights that attach tot he physical surface of the land, that which lies above and below it and that which is permanently attached to it.
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Real property
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Defined as the rights, privileges, and improvements that belong to the land---this means that they are connected to the real estate and are conveyed when ownership transfers
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Appurtenance
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What are the rights to the natural resources lying below the earth's surface?
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Subsurface rights
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The rights to use the surface of the earth
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Surface rights
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When mining can damage the surface or compromise the underlying support of the surface and result in?
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Mine subsidence
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PA law requires that the seller to provide notice to purchaser about whether a structe on the land is entitled to support from underlying coal.
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Coal notice--if the seller can't certify the structure is supported, then the seller must inform the purchaser that there is no protection to the structure against damage due to mine subsidence
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The rights to use the open space or vertical plane above the land
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Air rights
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PA permits local govts to obtain aviation easements over land surrounding airports to prevent interference with takeoffs and landings
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!!!!
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All property that doesnt fit the function of real property
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Peronalty or personal property
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What is the distinction between real estate and real property?
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If it is movable---if it is movable it is more than likely personal property if it is permanent then it is real estate
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