Level 1: Real vs. Personal Property

Question 1

Real Property

Answer 1

land plus permanent improvements (considered real estate)

Question 2

Personal Property

Answer 2

unattached, moveable asset not considered real estate

Question 3

Personal property is conveyed by a

Answer 3

bill of sale or by bequest in a will

Question 4

Real property is conveyed by a

Answer 4

deed

Question 5

Chattel

Answer 5

a commonly used term for personal property

Question 6

Fructus Naturales

Answer 6

Trees, persistent decorative plantings (such as perennial landscape plants), and uncultivated plants (real property)

Question 7

Fructus Industriales

Answer 7

Annually cultivated crops also called emblements (Personal property)

Question 8

Fixtures

Answer 8

an object that was once personal property but is now firmly attached to the land in such a way that it is considered to be real property

Question 9

Affixation/Annexation

Answer 9

process of converting personal property to real property, and therefore creating a fixture

Question 10

3 Methods of Annexation

Answer 10

Close Association, Adoption, & Agreement

Question 11

Annexation - Close Association

Answer 11

conceptual linkage to real property, such as a garage door opener

Question 12

Annexation - Adoption

Answer 12

customization of personal property for use with real property, such as drapes cut for a window in a room with a vaulted ceiling

Question 13

Annexation - Agreement

Answer 13

when the parties to a contract agree that personal property will remain with the real property (make sure to get this in writing!)

Question 14

Trade Fixture/Chattel Fixture

Answer 14

personal property that is owned by and needed for a tenant’s business. It is not subject to the same rules of transfer as fixtures in general

Question 15

Severance

Answer 15

act of converting real property into personal property

Question 16

MARIA

Answer 16

mnemonic device to help you remember

Question 17

MARIA - Method of Attachment

Answer 17

refers to how the potential fixture is installed

Question 18

MARIA - Adaptability

Answer 18

anything specifically adapted to the home (like window shades) or anything that is integral to the operation of the home (like a box air conditioning unit or a specially-sized door) could be a fixture

Question 19

MARIA - Relationship of the Parties

Answer 19

landlord-tenant relationships. When tenants install things in a home, they are allowed to take them when they leave, like a trade fixture

Question 20

MARIA - Intent

Answer 20

means the intent the homeowner had when they installed the item in question

Question 21

MARIA - Agreement Between the Parties

Answer 21

whatever has been agreed upon by the parties to the transaction (IN WRITING) is what happens