Chapter 2

Question 1

A Legal System that recognizes privateownership of land

Answer 1

Allodial System

Question 2

A body of law based on custom and useage

Answer 2

Common Law

Question 3

Rights someone has in something and are often defined as a “bundle of legal rights.”

Answer 3

Property Rights

Question 4

Includes the earth’s surface, below to the center, above to infinity, and all natural things attached.

Answer 4

Land

Question 5

Property Rights Include (5)

Answer 5

1) Possession
2) Enjoyment
3) Disposition
4) Control
5) Exclusion

Question 6

The right to occupy the property

Answer 6

Possession

Question 7

The right to possess the property without interference

Answer 7

Enjoyment

Question 8

The right to sell or give the property to someone else

Answer 8

Disoposition

Question 9

The right to use the property the way the owner wishes within the limits of the law

Answer 9

Control

Question 10

The right to keep other people from using the property

Answer 10

Exclusion

Question 11

Land plus any artificial things permanent attached

Answer 11

Real Estate

Question 12

All components of real estate plus the legal rights and interests associated with its ownership

Answer 12

Real Property

Question 13

Additions to a property that are created artificially rather that by nature

Answer 13

Improvements

Question 14

unimproved land

Answer 14

Raw Land

Question 15

Rights a property owner has in the space above the surface of the property

Answer 15

Air Rights

Question 16

Rights a property owner has in any material below the surface of the land

Answer 16

Surface Rights

Question 17

All property that is not classified as real property

Answer 17

Personal Property (Chattal Property)

Question 18

Physical things that be seen and touched

Answer 18

Tangible Property

Question 19

Things that can not be seen and touched, such as : sock certificates

Answer 19

Intangible Property

Question 20

The process of changing real property to personal property

Answer 20

Severance

Question 21

Personal Property changed to Real Property

Answer 21

Attachment

Question 22

Items such as bushes and trees that are on and part of the real estate

Answer 22

Fruit of Nature

Question 23

Items such as crops that are on but not part of the real estate

Answer 23

Fruits of Industry

Question 24

Annual crops on a property that are raised by the owner of the property

Answer 24

emblements

Question 25

is an object that once was personal property but has been attached to the land or building and is now real property

Answer 25

fixtures

Question 26

an article attachment by the tenant to the building for use in conducting a trade or business

Answer 26

Trade Fixture