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Real Estate Review

Quiz yourself by thinking what should be in each of the black spaces below before clicking on it to display the answer.
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Question
Answer
Metes and Bounds   show
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Real Property aka Realty   show
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show Personal Property/Personalty-Anything that is unattached and moveable, such as furniture.  
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show Once-moveable items that have been attached to real property. e.g. sink or ceiling fan  
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Trade Fixture   show
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show Term for how, by attachment something that was formerly personal property becomes real property.  
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show Additions to real property from natural causes, such as a riverfront that benefits from a shift in the river's path.  
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show The process of separating a fixture from real property. Also applies to removing "connected" elements such as crops and minerals from the land.  
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Four legal tests for a fixture   show
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show "Runs with the land" or belonging to something else. Rights do not end when the new owner takes titile.  
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show Crops that a tenant generally owns as personal property and may return to harvest even after a lease expires.  
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show Fruits of growning crops considered personal property.  
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show Tree's & Bushes considered to be real property.  
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show Earth's surface, subsurface to the center of the earth, the space overhead and rights to each.  
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Three physical Characteristics of Land   show
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Improvements   show
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Monument   show
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Lot/Block/Tract   show
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show Identifies properties according to a plat map or sometimes even an assessor's map.  
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Assessor's Map (Subdivision)   show
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show Determine the accurate location and dimensions of property boundary lines.  
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show For test purposes 43,560 Square Feet  
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show 40,000 Square Feet  
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Created by: vstansell