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Real Estate Pennsylvania
All terms in book
29
Real Estate & Planning
Professional
07/20/2011

Additional Real Estate & Planning Flashcards

 


 

Cards

Term
Land
Definition
EARTHS SURFACE EXTENDING DOWNWARD TO THE CENTER OF THE EARTH AND UPWARD TO INTO SPACE
Term
REAL ESTATE
Definition
LAND AT, ABOVE, AND BELOW THE EARTHS SURFACE
Term
REAL PROPERTY
Definition
THE PHYSICAL LAND OR REAL ESTATE PLUS THE INTERESTS, BENEFITS AND RIGHTS THAT ARE ASSOCIATED WITH ITS OWNERSHIP
Term
APPURTENANCE
Definition
RIGHTS, PRIVILEGES, AND IMPROVEMENTS THAT BELONG TO THE LAND
Term
SUBSURFACE RIGHTS
Definition
THE RIGHTS TO NATURAL RESOURCES LYING BELOW THE EARTHS SURFACE
Term
SURFACE RIGHTS 
Definition
THE RIGHTS TO USE THE SURFACE OF THE EARTH
Term
AIR RIGHTS 
Definition
THE RIGHTS TO USE THE OPEN SPACE OR VERTICAL PLANE AIR ABOVE THE LAND 
Term
CHATTELS 
Definition
TANGIBLES SUCH AS TABLES CHAIRS, ETC
Term
EMBLEMENTS
Definition
ANNUAL PLANTINGS
Term
POLICE POWER
Definition
POWER TO ADOPT REGULATIONS NECESSARY TO PROTECT PUBLIC HEALTH, SAFETY AND WELFARE
Term
COMPREHENSIVE PLAN
Definition
LAND USE, HOUSING NEEDS, MOVEMENT OF THE PEOPLE AND GOODS, COMMUNITY FACILITIES AND UTILITIES, ENERGY CONSERVATION
Term
ZONING ORDINANCES
Definition
LOCAL MUNICIPAL LAWS THAT IMPLEMENT THE COMPREHENSIVE PLAN
Term
BUFFER ZONES
Definition
SCREEN RESIDENTIAL FROM NONRESIDENTIAL AREAS AND THUS PROTECT THE ENJOYMENT OF THE PROPERTY OWNERS 
Term
NONCONFORMING USE
Definition
NO LONGER CONFORMS TO CURRENT ORDINANCES, THERE BEFORE THEY WERE MADE
Term
VARIANCE
Definition
AUTHORIZES A USE THAT IS NOT ALLOWED IN THAT AREA
Term
IMPACT FEE
Definition
USED FOR OFF SITE IMPROVEMENTS DUE TO THE BUILDING OF A SUB. DIVS. PLOT
Term

STEPS TO MINIMIZE LEGAL LIABILITY

 

Definition
DISCOVERY, DISCLOSURE, DOCUMENTATION
Term
legal Description
Definition
a precise way of identifying a parcel of land so that its location may be known with certainty
Term
metes and bounds
Definition
relies on the physical features of a property to determine the boundaries and measurements of the parcel of land
Term
point of beginning 
Definition
designated place on the parcel where the metes and bounds starts
Term
Township
Definition
36 sections, each section one square mile or 640 acres
Term
datum
Definition
point, line, or surface from which elevations are measured
Term
Beanchmarks
Definition

Permanent reference points to aid surveyors thoughtout the US

 

Term
1 Mile
Definition
5280ft, 1760yards, 320 rods
Term
1 Kml
Definition
.62 miles
Term
1 Acre
Definition
43560 sq feet
Term
Escheat
Definition
Owner dies with no heirs, state ownership for transfer
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