Property Appraisal TEST 1 AAEC 4303
top uses of surface water in Texas - answer municipal
irrigation
manufacturing
top uses of groundwater in Texas - answer irrigation
municipal
Surface Water - answer includes streams, rivers and reservoirs.
Groundwater - answer includes all percolating water.
Appropriation Doctrine - answer Surface water is the property of the State with the right
of use obtained through a legal process.
Water rights are granted by state license to use a specified amount of water, at a
specific location, for a specific purpose
rule of capture - answer whoever first captures a natural resource owns it
A landowner has a right to take for use or sale all the water that he can capture from
below his land as long as the water is beneficially used and isn't intentionally wasted or
negligently result in the subsidence of neighboring lands.
Common Law Principle of Property - answer" to whomever the soil belongs; he owns
also to the sky and to the depths."
In Texas terms the "heaven to hell" ownership theory.
Only state in the western US which applies absolute ownership to govern the capture
and use of groundwater.
Highest and best use as improved refers to - answer the use of the property that gives
the highest value with consideration of any improvements that may exist on the land.
What is the current state of groundwater policy in Texas? - answer The Court has
upheld the Rule of Capture.
The Court has recognized the role of the Legislature in groundwater and resource
regulation.
, The Legislature has recognized UWCDs as the preferred method of managing
groundwater.
The Legislature has given UWCDs broad authority to regulate groundwater.
what are the 3 approaches used in the valuation process to estimate value - answercost
sale
income
legal - answerproperty rights
economic - answervalue
social - answerland ownership is a fundamental American pursuit
The description of the scope of an appraisal refers to - answerthe extent of the
collection and verification of data
Where would a warranty deed for a transfer of ownership in a property be filed? -
answerCounty Courthouse
Land, labor, capital and management identify the four - answeragents of production.
Which of the following is true? - answerZoning is an example of a government
restriction.
The process of condemnation is associated with - answereminent domain.
The legal document that transfers title of real estate from the grantor to the grantee is a
- answerwarranty deed.
The doctrine related to surface water rights in the state of Texas is -
answerappropriated water rights.
A lease creates a partial interest in real property whereby the tenant (lessee) has a
_____ estate and the landlord (lessor) has a _____ estate. - answerleasehold/leased
fee
A township is - answera six by six mile block of land that is formed by intersecting range
lines in the rectangular survey system.
An article that was once personal property, but has since been installed or attached to
the land or buildings in a rather permanent manner is called a - answerfixture.
An interest in a real property that conveys use but not ownership, of a portion of an
owner's property is an - answereasement.
top uses of surface water in Texas - answer municipal
irrigation
manufacturing
top uses of groundwater in Texas - answer irrigation
municipal
Surface Water - answer includes streams, rivers and reservoirs.
Groundwater - answer includes all percolating water.
Appropriation Doctrine - answer Surface water is the property of the State with the right
of use obtained through a legal process.
Water rights are granted by state license to use a specified amount of water, at a
specific location, for a specific purpose
rule of capture - answer whoever first captures a natural resource owns it
A landowner has a right to take for use or sale all the water that he can capture from
below his land as long as the water is beneficially used and isn't intentionally wasted or
negligently result in the subsidence of neighboring lands.
Common Law Principle of Property - answer" to whomever the soil belongs; he owns
also to the sky and to the depths."
In Texas terms the "heaven to hell" ownership theory.
Only state in the western US which applies absolute ownership to govern the capture
and use of groundwater.
Highest and best use as improved refers to - answer the use of the property that gives
the highest value with consideration of any improvements that may exist on the land.
What is the current state of groundwater policy in Texas? - answer The Court has
upheld the Rule of Capture.
The Court has recognized the role of the Legislature in groundwater and resource
regulation.
, The Legislature has recognized UWCDs as the preferred method of managing
groundwater.
The Legislature has given UWCDs broad authority to regulate groundwater.
what are the 3 approaches used in the valuation process to estimate value - answercost
sale
income
legal - answerproperty rights
economic - answervalue
social - answerland ownership is a fundamental American pursuit
The description of the scope of an appraisal refers to - answerthe extent of the
collection and verification of data
Where would a warranty deed for a transfer of ownership in a property be filed? -
answerCounty Courthouse
Land, labor, capital and management identify the four - answeragents of production.
Which of the following is true? - answerZoning is an example of a government
restriction.
The process of condemnation is associated with - answereminent domain.
The legal document that transfers title of real estate from the grantor to the grantee is a
- answerwarranty deed.
The doctrine related to surface water rights in the state of Texas is -
answerappropriated water rights.
A lease creates a partial interest in real property whereby the tenant (lessee) has a
_____ estate and the landlord (lessor) has a _____ estate. - answerleasehold/leased
fee
A township is - answera six by six mile block of land that is formed by intersecting range
lines in the rectangular survey system.
An article that was once personal property, but has since been installed or attached to
the land or buildings in a rather permanent manner is called a - answerfixture.
An interest in a real property that conveys use but not ownership, of a portion of an
owner's property is an - answereasement.
