California Real Estate Principles:
Property, Agency, Appraisal, and
Law
Save
Terms in this set (212)
Land and anything permanently Real property
attached to it, such as buildings
and improvements.
Movable items not permanently Personal property
attached to land or buildings, such
as furniture and vehicles.
Items that were once personal Fixtures
property but have been attached
to real property in a way that they
are considered part of the real
estate.
An acronym used to determine if MARIA (tests for a fixture)
an item is a fixture: M - Method of
attachment, A - Adaptability, R -
Relationship of the parties, I -
Intention of the parties, A -
Agreement.
Rights or privileges associated Appurtenances
with the property, such as
easements or water rights.
Claims or liabilities against a Encumbrances
property that may affect its value,
including liens and easements.
An estate in land that is of Freehold estate
uncertain duration, such as
ownership of property.
The most complete form of Fee simple estate
ownership in real estate, with
unlimited duration and
transferability.
,A type of fee simple estate that Fee simple defeasible
can be voided if certain
conditions are not met.
An interest in property that lasts Life estate
for the lifetime of a specified
individual.
A leasehold estate that lasts for a Estate for years
specific period of time, with a
definite beginning and end.
The government's right to Police Power
regulate land use for the public
good, including zoning and
building codes.
The process by which property Escheat
reverts to the state when an
owner dies without a will or heirs.
California law that regulates the Subdivision Map Act
subdivision of land and requires a
map to be filed with local
authorities.
Private limitations on the use of Deed restrictions
property, often imposed by a
developer or previous owner.
The right of a property owner or Quiet enjoyment
tenant to enjoy their property
without interference.
A document that provides Public report
information about a subdivision to
potential buyers, including
disclosures and regulations.
A program aimed at revitalizing Brownfield Economic Development Initiative
contaminated properties to
promote economic development.
An urban planning approach that Smart growth
focuses on sustainable
development, efficient land use,
and community engagement.
, Legal rights to use water from a Water rights
water source, such as rivers, lakes,
or underground aquifers.
The body of law that governs the Agency law
relationship between agents and
their principals.
Legal obligations of an agent to Fiduciary duties
act in the best interest of their
principal, including loyalty and full
disclosure.
The person who authorizes an Principal
agent to act on their behalf.
A person who engages the Client
services of a real estate agent.
A person who is not a client but Customer
may interact with a real estate
agent.
An agency relationship where the Single agency
agent represents only one party in
a transaction.
An agency relationship where the Dual agency
agent represents both the buyer
and the seller in a transaction.
A legal document that allows one Power of attorney
person to act on behalf of another
in legal or financial matters.
A formal contract that establishes Written agreement
the terms of the agency
relationship between the agent
and the principal.
The end of the agency Termination of agency
relationship, which can occur
through mutual agreement,
completion of purpose, or
expiration.
The estimated price at which a Market value
property would sell in a
competitive and open market.
Property, Agency, Appraisal, and
Law
Save
Terms in this set (212)
Land and anything permanently Real property
attached to it, such as buildings
and improvements.
Movable items not permanently Personal property
attached to land or buildings, such
as furniture and vehicles.
Items that were once personal Fixtures
property but have been attached
to real property in a way that they
are considered part of the real
estate.
An acronym used to determine if MARIA (tests for a fixture)
an item is a fixture: M - Method of
attachment, A - Adaptability, R -
Relationship of the parties, I -
Intention of the parties, A -
Agreement.
Rights or privileges associated Appurtenances
with the property, such as
easements or water rights.
Claims or liabilities against a Encumbrances
property that may affect its value,
including liens and easements.
An estate in land that is of Freehold estate
uncertain duration, such as
ownership of property.
The most complete form of Fee simple estate
ownership in real estate, with
unlimited duration and
transferability.
,A type of fee simple estate that Fee simple defeasible
can be voided if certain
conditions are not met.
An interest in property that lasts Life estate
for the lifetime of a specified
individual.
A leasehold estate that lasts for a Estate for years
specific period of time, with a
definite beginning and end.
The government's right to Police Power
regulate land use for the public
good, including zoning and
building codes.
The process by which property Escheat
reverts to the state when an
owner dies without a will or heirs.
California law that regulates the Subdivision Map Act
subdivision of land and requires a
map to be filed with local
authorities.
Private limitations on the use of Deed restrictions
property, often imposed by a
developer or previous owner.
The right of a property owner or Quiet enjoyment
tenant to enjoy their property
without interference.
A document that provides Public report
information about a subdivision to
potential buyers, including
disclosures and regulations.
A program aimed at revitalizing Brownfield Economic Development Initiative
contaminated properties to
promote economic development.
An urban planning approach that Smart growth
focuses on sustainable
development, efficient land use,
and community engagement.
, Legal rights to use water from a Water rights
water source, such as rivers, lakes,
or underground aquifers.
The body of law that governs the Agency law
relationship between agents and
their principals.
Legal obligations of an agent to Fiduciary duties
act in the best interest of their
principal, including loyalty and full
disclosure.
The person who authorizes an Principal
agent to act on their behalf.
A person who engages the Client
services of a real estate agent.
A person who is not a client but Customer
may interact with a real estate
agent.
An agency relationship where the Single agency
agent represents only one party in
a transaction.
An agency relationship where the Dual agency
agent represents both the buyer
and the seller in a transaction.
A legal document that allows one Power of attorney
person to act on behalf of another
in legal or financial matters.
A formal contract that establishes Written agreement
the terms of the agency
relationship between the agent
and the principal.
The end of the agency Termination of agency
relationship, which can occur
through mutual agreement,
completion of purpose, or
expiration.
The estimated price at which a Market value
property would sell in a
competitive and open market.
