Real Estate Principles Tenth Edition Real Estate: An Introduction to the Profession Tenth Edition

Chapter 2 Nature and Description of Real Estate __________________________________

Land Improvements Fixtures Manner of Attachment adaptation of object existence of an agreement relationship of the parties Appurtenances

Real Estate’s Dimensions Land includes the surface of the earth, the sky above, and everything to the center of the earth.

Water Rights Riparian Right Doctrine of Capture Percolating Water

Land Descriptions Metes & Bounds Rectangular Survey System Recorded Plat Reference to Documents other than Maps Informal Reference - address Assessor’s Parcel Number

Describing Land by Metes and Bounds

Naming Directions for a Metes and Bounds Survey Moving in a clockwise direction from the point of beginning, set the center of a circle compass on each corner of the parcel to find the direction of travel to the next corner.

Parallels and Meridians The public land survey system of the United States.

Township Divided into Sections

One Section (640 Acres) Subdivided

Land Description by Recorded Plat

Lot Types

The tax assessor assigns every parcel of land in the county its own parcel number. For example, the westernmost parcel (lot 50) in the map would carry the number , meaning Book 34, Page 18, Parcel 8. Assessor’s Map

Physical Characteristics of Land Immobility Indestructibility Nonhomogeneity

Economic Characteristics of Land Scarcity Modification Fixity Situs

Key Terms Fixity Fixtures Improvements Meridians Metes & Bounds Monument Personal property Real Estate Recorded Plat Riparian Rights Scarcity Situs