Land, Real Property, Real Estate Flashcards

Distinguish between personal property and real property. Identify what constitutes a fixture.

1
Q

Land

A

surface extending downward to earth and upwards to infinity; including natural and permanent attached objects

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2
Q

Real Estate

A

land definition and natural and artificially attached objects *Artificial attachments are “improvements” which includes fencing buildings and walkways

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3
Q

Real Property (Land, Tenements , Hereditaments)

A

land in everything permanently attached to it, Plus the Interest, Benefits, Rights automatically included with real estate ownership

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4
Q

Interest, Benefits, & Rights

A

Possession, Enjoyment , Exclusions , Control, & Disposition

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5
Q

Possession

A

The right to occupy property

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6
Q

Enjoyment

A

The right to use property in any legal way the owner desires

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7
Q

Exclusions

A

The right to refuse others to entry ;or use the property

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8
Q

Control

A

The right to determine how the property will be used by owner (Extends to other parties)

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9
Q

Disposition

A

The right to dispose of by (Sale, Lien, Easment, Lease)any interest in the property

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