Book Flashcards
1
Q
What are the three physical characteristics of land?
A
Immobility, indestructability, and non-homogeneity:
2
Q
Tangible Property
A
Physical substance (Car, Furniture, Clothing) and is know as chattel (A fixture that is permanently attached to the real estate)
3
Q
Intangible Property
A
No intrinsic value or material being, the value is derived from what it represents (stocks, bonds, checks, promissory notes, etc
