REAL ESTATE PRINCIPLES I - Lee Institute School of Real Estate

I real ESTATE PRINCIPLES I Donald A. Corb, JD Lee Institute School of real ESTATE (Founder) Richard A. Giovangelo Lee Institute School of real ESTATE (President) Lee Institute -- Brookline, Mass. THIRTEENTH EDITION COPYRIGHT 2013-14 Lee Institute All rights reserved. The text of this publication, or any part thereof, may not be reproduced in any manner whatsoever without written permission from the publisher. Printed in the United States of America Published by Lee Institute , Inc. 310 Harvard Street Brookline, Mass. 02446 ii CONTENTS Acknowledgements xxvii Foreword xxvii CHAPTER 1 CONCEPTS OF real ESTATE 1-1 real vs. PERSONAL PROPERTY A. Characteristics of Land/ real ESTATE a. Land 1-1 b. Economic Characteristics i. scarcity ii. improvements c. Physical Characteristics 1-2 i. immobility ii.

iii d. Water rights i. riparian rights ii. littorial rights J. Limitations on Ownership a. Governmental Powers i. taxation ii. escheat

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