Fluid filled sacs in the knee are specifically called Bursa or Bursae. Bursae is plural for Bursa.
A bursa is a closed fluid filled sac that function as a gliding surface to reduce friction between tissues of the body. Knee bursitis occurs when there is irritation or inflammation in one one of the knee bursa. The procedure of removing fluid-filled sac is called bursectomy. When the bursa become infected with bacteria, this condition is called septic bursitis.