Chapter 2 - Real Property

Question 1

Land

Answer 1

(bundle of rights) The material of the earth, whatever may be the ingredients of which it is composed, whether soil, rock, or other substance, and includes free or unoccupied space for an indefinite distance upwards as well as downwards. Also includes all of the air above

-Subsurface
-Surface
-Arial

Question 2

Bundle of Rights

Answer 2

The rights of an owner of a freehold estate to possession, enjoyment, control, and disposition of real property.

Question 3

Mineral Rights

Answer 3

The landowner’s ability to take minerals from the earth or to sell or lease this right to others.

Question 4

Air Rights

Answer 4

The rights in real property to the reasonable use of the air space above the surface of the land.

Question 5

Real Estate

Answer 5

Land and everything permanently attached to land.

Question 6

Real Property

Answer 6

The aggregate of rights, powers, and privileges conveyed with ownership of real estate. Land -> Real Estate -> Real Property

Question 7

Severance

Answer 7

The act of converting real property to personal property (cutting down a tree)

Question 8

Fixtures

Answer 8

personal prop that has become real prop by permanent attachment (appliances, elevator unit, air conditioning unit)

Question 9

Personal Property

Answer 9

prop that is not land and is not permanently attached to land; everything that is moveable

Question 10

Chattel

Answer 10

Personal property

Question 11

Emblements

Answer 11

crops and other annual plantings considered to be personal property of the cultivator

Question 12

Trade Fixtures

Answer 12

items that are installed by a commercial tenant and are removable upon termination of tenancy

Question 13

Three Legal Tests of Fixture

Answer 13

1) What intended by the party (permanent or removeable)?
2) The adaptation
3) The mode and permanence of how it was attached (does it create damage to remove)?