Ch 3 The Nature of Personal Property

Question 1

Personal Property

Answer 1

all property that is not real property also known as personality or chattel.
- Transferred by the bill

Question 2

Types of Personal Property

Answer 2

• Chattel
• Trade fixtures
• Fructus industriales or emblements

Question 3

Chattel

Answer 3

2 types
Chattel personal & Chattel real
- interest in real property other than owner ship (lease)

Question 4

Chattel Mortgage

Answer 4

Secured by personal property such as a lien on an automobile or item of farm equipment.

Question 5

Trade Fixtures

Answer 5

Articles or personal property that are necessary parts of a tenants trade or business

Question 6

Replacement Fixtures

Answer 6

Improvements that are installed by a tenant to replace worn-out ones that are already in place before the new lease

Question 7

Fructus Industrials

Answer 7

or emblements are growing crops that are produced annually through labor and industry

Question 8

Severance

Answer 8

The act of moving something attached to land.