AZK RE - Practice - 1

- allows a tenant farmer to reenter the land and harvest crops after tenancy ends

- allows a court to enforce an oral contract

- is what makes a built-in dishwasher a fixture

• - if the parcel of land buyer believes he had legal title to had been transferred in a previous sale of a larger parcel of land Occupying Claimant Law require either (a) or (b)
•    a) owner of the land to compensate buyer for the house he built
•    b) buyer to compensate the rightful owner of the land for the value of the unimproved land

- if a condition in a deed is violated

- may occur in the event of discrimination in the sale or rental of housing

- is filed by a landlord to evict a tenant

- is a lawsuit to determine who has title

- is what a person sees or is told

- is a matter of public record

- is when circumstances should alert a person to a problem that should be investigated

- is a document used by a mortgagee to state the outstanding balance due on a mortgage which, if the mortgagor does not object, will stand as the correct amount

- mortgage against personal property, not real property

• - another name for a land contract
• - installment agreement in which a buyer gets equitable title until satisfaction

- is a written instrument that transfers ownership of tangible personal property, not real property

- installment agreement in which a buyer gets equitable title until satisfaction

• - when someone acquires an interest in property by using it
•    - openly
•    - without the owner's permission
•    - for a certain period of time
•    - does not acquire title to the property

• - open and notorious use of land
• - hostile and evidence use of land
• - constant, regular use of the land for the stated period of years

- acquiring the right to use someone's property by using it without the owner's permission for a specified period of time

- when something is so closely related to the property it is a fixture even though it is not physically attached

- does not convey title - just possession

- instrument used in many states in place of a mortgage

- are private controls on property

- are government regulations specifying minimum construction and building standards to safeguard health, safety, and welfare of the public

• - usually dictated by subdivision
• - regulations and restrictions put on the property by the original developer. It would be up to the neighbors to enforce the requirements

• - usually dictated by subdivision
• - regulations and restrictions put on the property by the original developer. It would be up to the neighbors to enforce the requirements

• - parcel of land that separates two differently zoned parcels
• - (e.g., a vacant lot between commercial land and residential land)

- set forth general uses for property in various areas of the community (e.g., residential, commercial, or industrial)

- distance along a lot's boundary with the road, the first measurement given in a property description

- required distance between improvements and property lines

- power of the government to make laws

- used by state and local governments to monitor compliance with and enforce building codes and other regulations

- person can lose rights to claims of title for waiting too long to take action to preserve the rights

- refers to a decrease in the assessed value of an Ad Valorem Tax or in the assessment rate used to compute the Ad Valorem Tax

- generally define land for public streets and future expansion of streets

- promise that runs with property forever in a general warranty deed

- condition that exists in the real estate market when there are slightly more homes available than buyers

- transaction that occurred under typical conditions in the marketplace where each of the parties were acting in their own best interests

- way to convert a property's income figure into an estimated value

- appraisal process of analyzing the values derived from the different appraisal approaches to arrive at a final value

- combining of two or more parcels of land into one larger parcel

- "rule" that says an informed buyer will not pay more for a home than a comparable substitute

- reflection of what a typical buyer would pay

• - anything with value to the buyer as it enhances the desirability of the real estate
• - marble fireplace, desirable location, preferred floor plan, …

- increase in the value of property, either due to positive improvements in the area or elimination of negative factors

- form of incurable depreciation

- period of time in which property returns an income attributable to the structure itself

- age the property appears to be, not its actual age

- when the property does not function well (e.g., a five-bedroom house with only one bath)

- used on unique, historical buildings (most homes would use the replacement cost)

- annual net income

- piece of land that has been enhanced and is ready for a structure

- area of preference, which can attribute value

- results in the highest net income attributable to the land, rather than the total gross annual income