Property Ownership and Interests

Question 1

Bundle of legal rights

Answer 1

DEEPC
disposition
enjoyment
exclusion
possession
control

Question 2

Appurtenance

Answer 2

right or privilege that goes with the land

Question 3

Riparian Rights

Answer 3

common law rights granted to owners of land along rivers, streams, or similar bodies of water

Ownership extends to the center point of the river

Question 4

Littoral Rights

Answer 4

belong to owners of land that border commercially navigable lakes, seas, and oceans

Ownerships ends at mean high tide mark

Question 5

Chattel

Answer 5

personal property (personalty) that includes moveable items such as furniture, emblements, annual plantings or crops of grain, fruit and vegetables, real property that becomes personal property by severance, manufactured homes that do not become real property

Question 6

Fructus Industriales

Answer 6

Fruits of industry (emblements) annual crops such as wheat, corn, vegetables, and fruit; generally considered personal property

Question 7

Legal test for fixture

Answer 7

IRMA
Intent
Relationship
Method
Adaption

Question 8

Trade Fixture

Answer 8

property attached to the structure but to be used in the course of business
it is considered personal property if it is removed by tenant and premises are returned to original condition; real property if left behind by tenant