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7 Cards in this Set
- Front
- Back
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The two major classifications of property?
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1. real property
2. Personal property |
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An item of movable personal property?
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chattel
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Is defined as the land, everything that is permanently attached to the land, and everything that is appurtenant to (or goes with) the land.
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Real Property
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Is defined as the land itself, the improvements thereon, and the interests, benefits, and rights inherent in the ownership of real estate.
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real property
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items of personal property are also referred to as?
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chattel
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Is defined as the earth's surface extending downward to the center of the earth and upward to infinity, including things permanently attached by nature, such as trees and water.
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Land
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A specific tract of land is commonly referred to as a?
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Parcel
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