Ch 3 The Nature of Personal Property Flashcards

1
Q

Personal Property

A

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

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2
Q

Types of Personal Property

A
  • Chattel
  • Trade fixtures
  • Fructus industriales or emblements
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3
Q

Chattel

A

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

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4
Q

Chattel Mortgage

A

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

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5
Q

Trade Fixtures

A

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

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6
Q

Replacement Fixtures

A

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

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7
Q

Fructus Industrials

A

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

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8
Q

Severance

A

The act of moving something attached to land.

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