Ch. 1 - Legal Aspect Flashcards
1
Q
What is the acronym MARIA used for?
A
Fixtures
Method of attachment Adaptability of item Relationship to the parties Intention of the person attaching it Agreement between the parties
2
Q
What are emblements?
A
Crops
3
Q
What is an attornment agreement?
A
A lease provides for the continuation of tenant’s rights in the event of foreclosure
4
Q
Rights are interested the thing owned:
A
Property
5
Q
Key words on exam:
Immovable
Bearing wall
NOT leasehold estates (Leases are personal property)
A
Real Property
6
Q
Incorporated into land (considered real property)
A
Fixtures
7
Q
Exam key words:
Easements, water company stock, covenants, and minerals; no separate conveyance
R/t?
A
Appurtenant - Runs with the land
8
Q
Exam keywords:
Hypothecated, alienated, become real property
R/t?
A
Personal property
9
Q
And acknowledgment is also known as:
A
Notarization
