Realty and Personal Property Flashcards

1
Q

personal property

A

anything that is NOT realty/ real property/land

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2
Q

personal property

A

chattel

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3
Q

chattel

A

personal property

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4
Q

realty

A

land, real estate, & real property

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5
Q

land

A

from the core of the earth upwards in the shape of a cone, including subsurface, surface, and airspace into infinity. ALL THINGS NATURAL

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6
Q

fructus naturales

A

what grows naturally

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7
Q

real estate

A

land including improvements/fixtures, tangible/corporeal appurtenances, fructus industriales, & emblements

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8
Q

tangible/corporeal

A

you can see, feel, touch

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9
Q

appurtenance

A

runs with the land. anything that will go forward with the sale

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10
Q

fructus industriales

A

crops planted by humans

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11
Q

emblements

A

fruit from the annual crops

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12
Q

real property

A

land and real estate and intangible/incorporeal appurtenance & BUNDLE OF RIGHTS

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13
Q

fee simple absolute

A

owns land with all 5 bundle of rights

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14
Q

Bundle of Rights

A

Possession, Control, Enjoyment, Exclude, Disposal

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15
Q

Bundle of Rights, Control

A

private ownership, but subject to government

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16
Q

Bundle of Rights, Disposal

A

enable to sell, lease, or mortgage your property