Property Ownership, Transfer of Title & Land Use 2.1

Question 1

What is a trade fixture?

Answer 1

A trade fixture is an article owned by a tenant and attached to a rented space or a building for use in the operation of the tenant’s business. It is the tenant’s personal property.

Question 2

A trade fixture must:

Answer 2

It must be removed on or before the last day of the lease.

If it’s not removed, it becomes the landlord’s real property by accession.

Question 3

What is a embalmment?

Answer 3

Crops that require annual cultivation are known as emblements and they are generally considered personal property meaning that if the real property is transferred before the crop is harvested, the harvest still belongs to the previous owner unless otherwise agreed to in the purchase agreement

Question 4

Plants fall into what two categories

Answer 4

Fructus Naturals

Fructus Industrials

Question 5

What is Fructus Naturals

Answer 5

Fructus Naturals: Trees, perennial shrubbery, and grasses not requiring annual cultivation are real property.

Question 6

Fructus Industrials

Answer 6

Fructus Industrials: Crops with a growing season of less than a year (annuals), known as emblements, are personal property

Question 7

How is real property changed to personal property?

Answer 7

through severance

Question 8

How does personal property become real estate?

Answer 8

Annexation

Question 9

Personal Property is transferred by?

Answer 9

Bill of sale or receipt

Question 10

How is Real Property transferred?

Answer 10

By Deed