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10 Cards in this Set
- Front
- Back
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Definition of land |
Anything that is naturally occurring on the surface |
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Difference between land and real estate |
The land is the surface, sub-surface, and air rights. Real estate is land + any man made improvements on it |
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Personal property |
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Is a key to the front door of a home real property or personal property? |
It’s real property. Even though it is movable it is attached by law to the door lock |
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What’s a fixture |
An item of personal property that’s been converted into real property |
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How to apply the legal test to fixtures |
MARIA •Method of attachment •Adaptation of item to real estate •Relationship of items to the parties attaching it •Intentions of parties attaching it •Agreement |
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Emblement |
Annual crop; fructus industriales Personal property of the farm tenant |
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fructus industriales |
Latin for fruits of industry. They would not bare fruit without labor added to it |
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What is a trade fixture? |
Personal property of the business E.g. barber chair, dentist chair, a bolted down freezer |
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