Chattel - Personal Property

Question 1

What is personal property?

Answer 1

It is movable property that is not attached to the land.

Question 2

How is personal property transferred?

Answer 2

It can be transferred by a bill of sale.

Question 3

What is intangible personal property?

Answer 3

Rights and relationships, such as copyright, patents and trademarks.

Question 4

What is tangible personal property?

Answer 4

Objects such as potted plants, furniture, automobiles. Documents can be personal property, such as a lease or contract.

Question 5

What is a chattel real?

Answer 5

It is personal property with less than freehold interest in real property, such as a lease.

Question 6

What is an emblement?

Answer 6

It is personal property, such as annual crops grown/produced on the land.

Question 7

What are trade fixtures?

Answer 7

It’s personal property of a business tenant and includes things like store, shelves, countertops, etc.

Question 8

Can emblements (crops) be harvested p after the farmers lease has expired?

Answer 8

Yes one time.

Question 9

Can trade fixtures be removed by a departing business tenant after the lease expires

Answer 9

No. Unlike crops (emblements), trade fixtures must be removed before the lease expires.

Question 10

What is a deed?

Answer 10

It is the written document used to convey an ownership interest in real property from the grantor (seller) to the grantee (purchaser)

Question 11

What is erosion?

Answer 11

The gradual wearing way of soil of the land.

Question 12

What is Avulsien?

Answer 12

The sudden separation of land due to a natural cause.

Question 13

What is accretion?

Answer 13

The increase of land due to natural causes.

Question 14

What are the physical characteristics of land? There are three.

Answer 14

1. a fixed location
   2 Heterogeneity - no two parcels are the same; and
2. indestructible

Question 15

What are the four economic characteristics of land?

Answer 15

1. scarcity-(limited amount)
2. Modification (it can be modified/improved to increase value)
3. Fixity
4. Situs (location)

Question 16

What are appurtenances?

Answer 16

Writes and improvements attached to the land that transfer with the land unless reserved or excepted on the deed.

Question 17

Name the two types of Appurtenaces

Answer 17

1. Corporal real estate
2. Incorporeal rights, relationships, privileges

Question 18

What are Corporeal Real Estate Appurtenances?

Answer 18

Improvements, such as buildings, fences, trees, sidewalks, plants

Question 19

What are examples of Incorporeal Appurtenances?

Answer 19

Mineral rights, such as oil, gas and coal rights, air, rights, riparian, rights, easements, the right to transfer ownership to heirs (hereditament)

Question 20

What are the bundle of rights that are also Incorporeal Appurtenances?

Answer 20

Disposition, exclusion, enjoyment, possession, control.

Question 21

What does DEEPC stand for when naming the bundle of rights you get with Incorporeal Appurtenances?

Answer 21

1. Disposition - the right to xfer
2. Exclusion - the right to stop others from entering/using
3. Enjoyment - right to use land freely
4. Possession - the right to physically occupy
5. Control - the right to physically alter or change the property

Question 22

What is the fixture?

Answer 22

A fixture is an item that was once personal property, but became permanently attached to real property and is now part of the real property.

Question 23

What is the legal test to determine if an item of personal property has now become a fixture? Hint the acronym is MARIA.

Answer 23

M - Method of attachment
A - agreement of the parties
R - relationship to the parties
I - the intent of the annexor
A - adaptation – what is the item’s purpose?

Question 24

What is conversion?

Answer 24

It is the process of changing real property to personal property or personal property to real property.

Question 25

What is severance?

Answer 25

Converting real property to personal property by detaching it (severing) from the land

Question 26

What is annexation?

Answer 26

Converting personal property to real property by attaching it to the land.

Question 27

When is a mobile home considered real property in the state of Arizona?

Answer 27

It becomes real property, if it is legally fixed by surrendering the title and recording an affidavit of Affixture.

Question 28

Must a real estate licensee list and sell new or used unfixed mobile or manufactured homes?

Answer 28

No, they may do so, but it’s optional.

Question 29

What document causes a mobile home to be taxed as real estate in the state of Arizona?

Answer 29

An affidavit of affixture. Otherwise a mobile home that is not attached to the land is simply a vehicle, has a vehicle title, and therefore is personal property.

Question 30

What are the four government powers which impose limitations on ownership of real property?

Answer 30

Police power, eminent domain, taxation, and escheat. PETE.

Question 31

What is PETE the four government powers?

Answer 31

Police power, eminent domain, taxation, and escheat.

Question 32

What is police power?

Answer 32

The right to enact and enforce laws for the health, safety and welfare of the public and do not impose compensation (payment) by the government to the land owner

Question 33

What is eminent domain?

Answer 33

The right to take ownership of private property for public use, but government must pay “just compensation” (fair price).

Question 34

What is condemnation?

Answer 34

It is the name of the legal process of taking property through eminent domain.

Question 35

Before the government can take your property by eminent domain in the state of Arizona, what must the government do before beginning/ filing a court action for condemnation?

Answer 35

20 days before filing a court action the government must: 1. Give the landowner a written offer to purchase for a fair price “just compensation” 2. provide the landowner with an appraisal to support the fair price offered by the government.

Question 36

What is Escheat?

Answer 36

It is the reversion of property back to the state due to the owner of the property dying without a will, and with no known heirs.

Question 37

When the government takes property due to escheat, how many years do heirs have to claim the proceeds from the government sale of that property?

Answer 37

7 years.

Question 38

What is a dedication of land?

Answer 38

It is the transfer of privately owned land to the public with the intent. The land will be used for public purposes. The government does not pay for the land.