Personal Property

Question 1

Four general categories of property rights

Answer 1

1. possession
2. use
3. exclusion
4. transfer

Question 2

What is the difference between real property and personal property?

Answer 2

Real property - cannot be moved; usually consists of land, items attached to land, and items associated with the land

Personal property - movable; usually consists of personal possessions

Note: real property can be converted to personal property by severance, while personal property can be converted to real property by annexation

Question 3

How is a lease categorized?

Answer 3

It is personal property (chattel).

Question 4

How is vegetation categorized?

Answer 4

Any vegetation that is planted and cultivated is personal property.

Any vegetation that grows wild is real property.

Question 5

Doctrine of emblements

Question 6

What are fixtures?

Question 7

Test to determine whether chattel has been converted to real property

Answer 7

To determine if the chattel has been converted to real property, the court will look at the following factors:

1. Whether the chattel can be easily removed;
2. The adaptation of the chattel to the use to which the realty is devoted; and
3. The intent of the owner to make the chattel part of the realty or land.

Question 8

Three methods of gaining and losing ownership of personal property

Answer 8

1. Capture of unowned property
2. Creation of new property
3. Conversion of owned property

Note: also includes discovery, adverse possession, accession, confusion, and gift, as well as abandonment and fraud