Capitulo 4 Flashcards
The process of adding to real property.
̑̑ Accession
A socio-economic system that allows for private ownership of
real property.
̑̑ Allodial
Attached to the land (such as a house) or the deed (such as a recorded easement).
̑̑ Appurtenant
Evidence of transfer of ownership of personal property.
̑̑ Bill of Sale
A synonym for personal property. It comes from the word “cattle.”
̑̑ Chattel
Something that is physical or tangible, such as land or buildings.
̑̑ Corporeal
The document that serves as evidence of ownership of real property, as well as the document of conveyance.
̑̑ Deed
Crops nurtured in the year of the transfer or sale of the property. They are considered personal property.
̑̑ Emblements
That which is attached without losing its identity. It is always
real property.
̑̑ Fixture
A term that refers to any additions to the land made by man. It includes buildings, roads and utilities and landscaping.
̑̑ Improvements
is the term for
intangible assets such as an easement or leasehold right.
̑̑ Incorporeal
The duty to give support to a neighbor’s property, such as building a retaining wall.
̑̑ Lateral Support
Subsurface rights of an owner of real property which extend downward to the center of the earth. These rights are real
property.
̑̑ Mineral Rights
A term that means no two parcels of land are exactly alike.
̑̑ Non-homogeneous
The opposite of real property, it is moveable and destructible. Synonyms are chattel and personalty.
̑̑ Personal Property
A synonym for personal property. The opposite of “realty.”
̑̑ Personalty
Land and appurtenances, air space to infinity, and the subsurface
to the center of the earth.
̑̑ Real Property
A process by which real property becomes personal property.
̑̑ Severance
Personal preference for one location over another which affects
the value of the property.
̑̑ Situs
That which is considered legally attached to a business. It is always personal property.
̑̑ Trade Fixture
- Which of the following is NOT a test of a fixture?
B. The cost of the item
- When real property is detached from real property, it is a process called:
B. Severance
- A barber’s chair in a barber shop would be considered:
B. A trade fixture
- The process of nature adding to the real property is called:
B. Accession
