Unit 2: Real Property

Question 1

True or False: The term RE includes human made improvements attached to the land.

Answer 1

True

Question 2

What does Real Property describe?

Answer 2

real estate plus the bundle of legal rights

Question 3

True or false: The right of possession is the homeowners right to occupy the property

Answer 3

True

Question 4

Can the same parcel or RE be owned and controlled by different parties?

Answer 4

yes

Question 5

Which rights are dominant over surface rights?

Answer 5

subsurface rights

Question 6

Which plants are not classified as real property?

Answer 6

naturally growing plant that do not require cultivation

Question 7

True or False: cultivated annual crops are NOT considered personal property.

Answer 7

False

Question 8

Is a manufactured home personal property?

Answer 8

Its personal unless treated as real property

Question 9

When does personal property become a fixture?

Answer 9

when its permanently affixed to land

Question 10

When classifying an item as personal property or a fixture, what do courts look for?

Answer 10

intention of the parties, adaptation to the real property, and mode & permanence of annexation

Question 11

Describe a trade fixture.

Answer 11

personal property attached to RE by a tenant for the tenant business

Question 12

How does a trade fixture become personal property?

Answer 12

if its removed before the lease expires and without damaging the property

Question 13

land

Answer 13

earths surface extending downward to the center and upward into space

Question 14

improvement on land

Answer 14

any structure erected on a site to enhance the values of the property

Question 15

improvement to land

Answer 15

publicly owned structure ex: sidewalks

Question 16

Real Estate

Answer 16

portion of Earths surface extending downward and upward

Question 17

bundle of legal rights

Answer 17

ownership of all rights (possession, control, & enjoyment)

Question 18

real property

Answer 18

earths surface downward and upward including things permanently attached by nature or people

Question 19

surface rights

Answer 19

limited to surface of property and does not include air above or minerals below

Question 20

sub-surface rights

Answer 20

rights to water, minerals, gas, oil, etc. beneath property

Question 21

air rights

Answer 21

rights to open space above a property

Question 22

personal property

Answer 22

items called chattels that do not fit into the definition of real property; movable objects

Question 23

personalty

Answer 23

items of personal property; chattel

Question 24

chattel

Answer 24

personal property; personalty

Question 25

attachment

Answer 25

process of converting personal property to real estate

Question 26

Fructus Naturales

Answer 26

"fruits of trees" trees & perennial shrubbery and grasses considered real estate

Question 27

emblements

Answer 27

growing crops (grapes or corn) that's produced annually through labor and industry

Question 28

fructus industriales

Answer 28

"fruits of industry" annual plantings or crops considered personal property

Question 29

reservation

Answer 29

something retained by the seller ex: minerals, a life estate, or an access easement

Question 30

exception

Answer 30

exclusion of some part of the property such as mineral interest

Question 31

fixture

Answer 31

an item of personal property that has been converted to real property by being permanently affixed to the realty

Question 32

trade fixture

Answer 32

installed by tenant and removed before the lease expires