Realty and Personal Property Flashcards Preview

Real Estate > Realty and Personal Property > Flashcards

Flashcards in Realty and Personal Property Deck (16):
1

personal property

anything that is NOT realty/ real property/land

2

personal property

chattel

3

chattel

personal property

4

realty

land, real estate, & real property

5

land

from the core of the earth upwards in the shape of a cone, including subsurface, surface, and airspace into infinity. ALL THINGS NATURAL

6

fructus naturales

what grows naturally

7

real estate

land including improvements/fixtures, tangible/corporeal appurtenances, fructus industriales, & emblements

8

tangible/corporeal

you can see, feel, touch

9

appurtenance

runs with the land. anything that will go forward with the sale

10

fructus industriales

crops planted by humans

11

emblements

fruit from the annual crops

12

real property

land and real estate and intangible/incorporeal appurtenance & BUNDLE OF RIGHTS

13

fee simple absolute

owns land with all 5 bundle of rights

14

Bundle of Rights

Possession, Control, Enjoyment, Exclude, Disposal

15

Bundle of Rights, Control

private ownership, but subject to government

16

Bundle of Rights, Disposal

enable to sell, lease, or mortgage your property