Real Property & Ownership

Question 1

Real estate

Answer 1

Real estate is defined as land at, above, and below the earth surface, plus all things permanently attached to it, whether natural or artificial.

Question 2

Land

Answer 2

Land is defined as the earth surface, down to the center of the earth and upward to infinity, including natural objects.

Question 3

Deed

Answer 3

A deed is used to transfer only real property.

Question 4

Property

Answer 4

Property is divided into two categories. Property may be classified as either personal property or real property.

Question 5

Elements of personal property

Answer 5

Also known as chattels or personality.

Personal property is any property that is not real property.

Personal property is movable.

Example, a mobile home is not personal property unless it has wheels.

Question 6

Bill of sale

Answer 6

Bill of sale is the transfer of personal property.

Question 7

Fructus Naturales

Answer 7

Natural growing plants, perennial crops, entries are considered real property. Orchards/vineyards.

Question 8

Fructus Industrials or Emblements

Answer 8

Cultivated annual crops are considered personal property.

The former owner or tenant is entitled to harvest the fruits of his labor at harvest time.

Question 9

Elements of real property

Answer 9

Real property is considered immovable.

Real property includes land and the improvements, rights and benefits that transfer or go with the land, such as buildings, fences, trees, water rights, surface, sub surface, so the heavens above known as air right, mineral rights, and easements.

Also known as appurtenances.

Question 10

Easements

Answer 10

Allowance of someone to cross your property.

Question 11

Bundle of rights

Answer 11

Be beneficial right to use, exclude others, lease, encumber, transfer, and inherit our ownership rights referred to as bundle of rights.

Right of possession
Right to control within framework of law
Right to enjoy, legally
Right of exclusion
Right of disposition

Question 12

Annexation

Answer 12

Personal property can become real property through annexation.

Example, a dishwasher in the box is personal property until it is installed then it becomes real property.

Question 13

Severance

Answer 13

Real property can become personal property through severance.

A growing tree is real property, but when it is cut down for firewood it becomes personal property.

Question 14

Test of Fixture

Answer 14

Intent
Attachment
Adaptability
Agreement

Question 15

Trade Fixture

Answer 15

Attached and used in the ordinary course of business considered personal property. By written agreement (lease) in advance the tenant shall remove trade fixtures at expiration of lease. Tenant responsible for any damage caused by removal.

Question 16

Accession

Answer 16

If tenant fails to remove trade fixtures become real proper of landlord.

I.e. 30/60 days left behind by tenant then becomes real property of landlord

Question 17

Lot, Block, and Tract

Answer 17

State and/or local subdivision law requires recording of a subdivision map or play map.

This legal description uses the parcels designation on the recorded map as well as recording information.

I.e. Lot 12 Block 1 of Pacific Heights recorded in the middlesex registry of deeds.

Question 18

Metes and Bounds

Answer 18

This is the oldest method of describing land.

Metes means to measure, and bounds means linear directions. The method shows the boundaries of a parcel by measuring from point to point.

The measuring points are in a metes and bound direction are known as monuments.

Question 19

Natural Monuments

Answer 19

Trees, rocks, river

Question 20

Artificial Monuments

Answer 20

Fences, iron stakes, rods

Question 21

POB (Point of Beginning)

Answer 21

Metes and bounds descriptions are given in a clockwise manned ending at a POB.

Question 22

POE (Point of Ending)

Answer 22

Metes and bounds descriptions are given in a clockwise manned ending at a POB.