1. South-Western Publishing©2002 By Charles J. Jacobus Real Estate Principles Ninth Edition Real Estate: An Introduction to the Profession Ninth Edition South-Western Publishing©2002

2. Chapter 2 Nature and Description of Real Estate _______________________________________

3. South-Western Publishing©2002 Land Improvements Fixtures Manner of Attachment –adaptation of object –existence of an agreement –relationship of the parties Appurtenances

4. South-Western Publishing©2002 Real Estate’s Dimensions Land includes the surface of the earth, the sky above, and everything to the center of the earth.

5. South-Western Publishing©2002 Water Rights Riparian Right Doctrine of Capture Percolating Water

6. South-Western Publishing©2002 Describing Land by Metes and Bounds

7. South-Western Publishing©2002 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.

8. South-Western Publishing©2002 Parallels and Meridians The public land survey system of the United States.

9. South-Western Publishing©2002 Township Divided into Sections

10. South-Western Publishing©2002 One Section (640 Acres) Subdivided

11. South-Western Publishing©2002 Land Description by Recorded Plat

12. South-Western Publishing©2002 Lot Types

13. South-Western Publishing©2002 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 34-18-8, meaning Book 34, Page 18, Parcel 8. Assessor’s Map

14. South-Western Publishing©2002 Physical Characteristics of Land Immobility Indestructibility Nonhomogeneity

15. South-Western Publishing©2002 Economic Characteristics of Land Scarcity Modification Fixity Situs

16. South-Western Publishing©2002 Key Terms Fixity Fixtures Improvements Meridians Metes & Bounds Monument Personal property Real Estate Recorded Plat Riparian Rights Scarcity Situs