Morgan's (I-A, B)

Question 1

Synonyms for real property

Answer 1

Realty, real estate

Question 2

___ is land along with its improvements, things attached to it, and the benefits, rights, and interests included in its ownership.

Answer 2

Real estate

Question 3

What is the definition of land?

Answer 3

Earth’s surfaces, subsurface to the center of the earth, the space overhead, and the rights to each.

Question 4

___ are additions to the property that increase its value or enhance its appearance and may include attached property.

Answer 4

Improvements

Question 5

___ is the legal term for property deterioration, abuse, or destruction.

Answer 5

Waste

Question 6

Synonyms for personal property

Answer 6

Personalty, chattel

Question 7

___ is generally considered anything that is unattached and moveable; it also includes intangible assets (bank accounts, stocks, etc.)

Answer 7

Personal property

Question 8

___ are once-moveable items that have been attached to real property.

Answer 8

Fixtures

Question 9

Built-in bookshelves and garages are examples of ___.

Answer 9

Improvements

Question 10

Rugs, chairs, and couches are examples of ___.

Answer 10

Personal property

Question 11

Lights, coats hooks, and ceiling fangs are examples of ___.

Answer 11

Fixtures

Question 12

Fixtures used by a business tenant that are generally considered the tenant’s removable personal property

Answer 12

Trade fixtures

Question 13

The term for how, by attachment, something that was formerly personal property becomes real property

Answer 13

Annexation

Question 14

Synonym for annexation?

Answer 14

Accession

Question 15

Accession is a synonym for annexation, but it also includes additions to property from ___.

Answer 15

Natural causes

Question 16

What is the process of separating a fixture from the real property, thereby changing it from real to personal property?

Answer 16

Severance

Question 17

Display cases or supermarket freezers are examples of a ___.

Answer 17

Trade fixture

Question 18

List the four elements considered in legal tests for a fixture.

Answer 18

1. Intention (of the person who attached the item to make it permanent)
2. Method of attachment (annexation)
3. Adaptation of the item to the use of the property
4. Relationship and general understanding between parties

Question 19

___ are those things that “belong” to something else, generally by attachment; generally include any number of rights that “run with the land.”

Answer 19

Appurtenances

Question 20

Gardens and water tanks are examples of ___.

Answer 20

Appurtenances

Question 21

___ are crops that a tenant generally owns as personal property and may return to harvest even after a lease expires.

Answer 21

Emblements

Question 22

List 5 broad categories identifying the most common rights in land.

Answer 22

1. Surface
2. Subsurface
3. Mineral
4. Air
5. Water

Question 23

List 3 commonly recognized physical characteristics of land.

Answer 23

1. Immobility
2. Permanence (indestructibility)
3. Uniqueness

Question 24

List 4 commonly recognized economic characteristics of land.

Answer 24

1. Scarcity
2. Improvements
3. Permanence of investment
4. Area preference

Question 25

___ may be legal descriptions (metes an bounds, lot and block, rectangular survey) or less formal (street address).

Answer 25

Property descriptions

Question 26

While street addresses will suffice to identify properties on listing agreements, ___ is required for a deed to be valid

Answer 26

A full legal description

Question 27

___ is the widely used system of property description that “walks” the property boundaries by first identifying a physical point of beginning (POB) and then describing the distance and directions along the property line.

Answer 27

Metes and bounds

Question 28

___ is any number of landmarks that provides a stable point of reference for surveys.

Answer 28

Monument

Question 29

Lot and block (aka lot, block, and tract) system of property description is generally used for ___.

Answer 29

Subdivisions

Question 30

Synonyms for “lot and block”

Answer 30

Lot, block, and tract system

Recorded plat system

Question 31

What do plat and assessor’s maps show?

Answer 31

The specific dimensions of each lot, the access roads, and easements

Question 32

Synonyms for government rectangular survey?

Answer 32

Rectangular survey

Rectangular

Question 33

Vertical land descriptions are necessary for defining what type of rights?

Answer 33

Air rights