Real Property vs. Personal Property

Question 1

What is Real Property?

Answer 1

Anything fixed to the land or the house that stays with the property when sold.

Question 2

What is Personal Property?

Answer 2

Anything freestanding on the property that, unless stated in the purchase agreement, goes with the sellers when the house is sold.

Question 3

What is MARIA?

Answer 3

Method of annexation, Adaptability of item to land’s use, Relationship of the parties, Intention in placing items on land, Agreement of the parties

Question 4

Refers to whether the item is attached to the property and how permanent the attachment is.

Answer 4

Method of Annexation

Question 5

Define: Adaptability of Item to Land’s Use

Answer 5

Related to how the item is situated or adapted to the real property.

Question 6

Another word for personal property

Answer 6

chattel

Question 7

Land has both ______ and _______ characteristics.

Answer 7

Physical and Economic

Question 8

Economic Characteristics of land include its

Answer 8

scarcity, improvements, permanence of investments, and situs (location)

Question 9

Physical Characteristics of land include its

Answer 9

immobility, indestructibility, and uniqueness (non-homogony)

Question 10

Cultivated crops are called what?

Answer 10

Emblements