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3-1: Real/personal

TermDefinition
Appurtenance Part of the land that is automatically conveyed to a buyer when the land is sold; Permanently attached to the land.
Tangible appurtenance Can be seen, felt, and touched.
Corporeal appurtenance A physical, material appearance.
Incorporeal appurtenance Non physical. The right to fly over land.
Personalty Property that is movable.
Chattel Real An interest in real property where there is no ownership interest.
Chattel Personal property; Goods or every species of property movable or immovable which are not real property.
Alloidal system Land ownership is based upon an individuals fee simple ownership of real property which allows that individual to enjoy the full set of rights entailed in property ownership subject to restriction only by certain powers retained by the government.
Created by: userjoe