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28 Cards in this Set
- Front
- Back
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Land |
No improvements |
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Real estate |
Land with Improvements |
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Real Property |
Land with improvements plus rights |
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is defined as the earths surface, extending downward to the center of the Earth and upward to infinity |
Land |
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is defined as land at above, and below the Earth surface plus all things permanently attached to it |
Real Estate |
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is any artificial addition to land, such as a building, or fence |
Improvement |
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is the broadest of all. It includes both land and real estate. It is the interest benefits, and rights that are automatically included in the ownership of land in real estate |
Real property |
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is anything tangible or intangible associated with the property, although not necessarily a direct part of it |
Appurtenance |
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The right to use the surface of the Earth |
Surface rights |
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which are the rights to the natural resource is lying below the Earth surface |
Subsurface rights |
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The rights to use the space above the Earth may be sold or least independently, provided those right, have not been preempted by law |
Air rights |
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Scarcity improvements, permanence of investment location |
Economic characteristics of real estate |
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Immobility, indestructibility uniqueness |
Physical characteristics of Real Estate |
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Ownership of real property is described as carrying a? |
Bundle of legal rights |
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Disposition, enjoyment, exclusion, possession control DEEPC |
Bundle of legal rights |
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This property that is movable and not affixed to or associated with the land. Basically, includes all property except real property. |
Personal property |
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items of personal property, including such tangibles as chairs, tables, clothing, money, bonds, and bank accounts |
Chattels |
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Is defined as dwellings that are built offsite and truck to a building lot where they are installed or assembled.
is generally considered personal property until it becomes permanently affixed to the length at which point it becomes real property |
Manufactured housing |
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Annually, cultivated crops, such as wheat, corn, vegetables and fruit called? are generally considered personal property (Fructus Industriales) |
Emblements |
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An item of real property can become personal property by? |
severance |
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to change personal property into real property |
Annexation |
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Real property is transfer by? |
Deed |
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Personal property is transfers by |
Bill of sale |
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is personal property that has been so affixed to land or a building that by law, it becomes part of the real property (Permanent) |
Fixtures |
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Legal test of a fixture |
Attachment Adaptation Agreement |
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An article owned by a tenant, and attached to a rented space were building or used in conducting a business is a? (Removable) |
trade fixture |
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Trade fixtures that are not remove become the real property of the landlord acquiring. The property in this way is called? |
Accession |
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Personal property that turns into real property does sell by? |
Attachment |
