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17 Cards in this Set
- Front
- Back
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What is Real Estate?
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Land and the improvements made to land and the rights to use them.
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What are improvements?
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Any sort of land development such as houses, fences, roads, pipeline, etc...
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Personal property or personalty
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Items that are not part of the land that you would take with you such as furniture, farm machinery, cars, etc...
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Bill of Sale
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Document used to transfer personal property.
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Fixture
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Item that was once personal property that is attached to the land to become part of the realty
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Criteria for determining what constitutes a fixture
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1. Method of annexation to the real estate
2.Fitness or adaption to a particular use of the premises 3.Intention of the parties |
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Method of Annexation
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How an object is attached to the land.
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Trade Fixtures
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Business or trade related fixtures attached to a leased property but usually considered as property of the tenant instead of the land lord.
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Fructus Naturales
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Trees, cultivated perennial plants, and uncultivated vegetation of any kind are considered part of the land.
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Fructus industriales or emblements
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Annual cultivated crops usually regarded as personal property.
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Appurtenances
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Rights, privileges, or improvements that belong and pass with land but not necessarily a part of the land such as easements and right- of-ways.
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Riparian right
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The right to use the water of rivers or streams that border your land along with other landowners.
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Littoral Rights
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When land borders lake or sea, it is the right to enjoy use of the lake or sea provided the water's position is not altered by any artificial means.
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Percolating water
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Water not confined to a defined underground waterway.
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Water table/ groundwater level
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Upper limit of percolating water below the earth's surface.
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Texas Commission on Environmental Quality (TCEQ)
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The agency responsible for carrying out legislative, executive, and judicial functions provided under the Texas Water Code, delegated to it by the Constitution and other laws of the State of Texas. 3 members appt'd by Governor. Staggered 6 yr term
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Texas Water Code
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Specifies that the water of the ordinary flow of every river, natural stream, lake, bay or arm of the Gulf of Mexico, as well as the watershed of every river, stream, canyon, depression, & ravine in Texas belongs to the state.
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