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QUARTER TERM REVIEW

Terms

QuestionAnswer
Subsurface rights are also known as mineral rights
Real Estate is: Land + manmade permanent attachments, improvements
Real Property is: Real Estate plus the bundle of rights.
Riparian rights pertain to rivers and streams.
Navigable: own land to waters edge
Non-navigable: own to mid-point
Littoral Rights: pertain to Lakes, seas, and oceans
A Fixture is considered Real property
Own land to: high water mark
Personal property: Chattels, trade fixtures and emblements are considered
Emblements can also be known as: crops (fructose industralist)
The criteria for whether or not something is truly a fixture includes: intention, adaption, functionality, and most importantly per the agreement
Severance: Changing an item of real estate to personal property by detaching it from the land
Affixment or attachment, is when personal property becomes real
What does land include? Land includes the surface, all natural things attached to it, the subsurface, and the air above the surface.
Created by: Mz Jade
Popular Real Estate sets

 

 



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