Personal Property Flashcards Preview

R.E. Exam > Personal Property > Flashcards

Flashcards in Personal Property Deck (4)
Loading flashcards...
1

Chattel

Aside from real property, the only other category of property defined in law is personal property, also called "chattel." Everything that is not real property is personal property. Tangible personal property is everything that is readily movable, such as household furniture, cars, tractors, mobile homes, and jewelry.

Personal property also includes crops that are planted and cultivated annually. Ownership of personal property is transferred and evidenced by a document called a bill of sale.

2

Minerals

Remember, land 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. Land includes the dirt and soil, as well as boulders and growing things such as trees and bushes. Land also includes minerals located below the surface, such as oil and coal. The right to mine minerals in land is evidenced by ownership of subsurface rights.

3

Fruits of Nature

Growing things that do not require regular planting or cultivation but continue to grow naturally (perennials) are called fructus naturales, fruits of nature, and are designated by law as real estate. These include forest trees, native shrubs, and wild berries. Fruits of nature pass to a buyer of real estate by execution and delivery of the deed from the seller unless specifically reserved by the grantor.

Growing things that require planting each season and cultivation are called fructus industriales, fruits of industry, and are designated by law as personal property. Examples include crops such as corn, wheat, melons, and soybeans. These fruits of industry are called emblements.

4

Emblements

Emblements are the personal property of the tenant who cultivated them, and such a tenant has the common law right to reenter the property to harvest the crops cultivated that year even though the land has been sold or the lease terminated. Fruits of industry or emblements do not pass to a buyer of real estate by deed; instead, they pass via a bill of sale because they are personal property.