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QUARTER TERM REVIEW
Terms
Question | Answer |
---|---|
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. |