Types of Property
Land at above and below the earth's surface is known as this.
Real Estate
The right to own the minerals and whatever else is in the ground of a specific property are known as
Subsurface rights
If I cut down a tree behind my home to use for firewood I have changed real property to personal property via this method.
Severence
The location of land is unique and cannot be changed. This is an example of:
Immobility.
This method of land description measures the distance and direction from one monument to another. It starts at the POB (point of beginning) and ends there as well.
Metes and Bounds
The type of system where individuals own property instead of the government is called this _____ system.
Allodial
These rights give a property owner possession of anything at or above the surface of the land
Air rights
If I lease my store to a barber who attaches a special barber's chair to the floor, the chair becomes one of these
A trade fixture
There may be a fire, earthquake, tornado or toxic spill. Even though it may sustain a lot of damage the land will always still be there because land is
Indestructible
In MA land is described using a full legal description which consists of three parts: The metes and bounds description, a reference description (reference to another document such as a previous deed)
and this...
Street or designated property address
This is the instrument used to transfer ownership of real property.
A deed
The beneficial right to use, enjoy, possess, control, exclude others, lease, encumber, transfer, dispose, and inherit are referred to as this.
Bundle of Rights
If I have a dishwasher in a box it is personal property. Once I attach it to the home it becomes real property through attachment, which is also known as
Annexation
Buildings constructed on a parcel of land are known as these
Improvements
This method is used in many other states, but it is not used in MA.
Government (rectangular) Survey
Another word for personal property. You know something moveable that is transferred with a bill of sale.
Chattels
These types of naturally growing plants (such as vineyards, trees and orchards) are considered real property and the right to own and use them transfers with the property.
Fructus Naturales
If a trade fixture, such as a dentist's chair is left behind at the end of a lease period the chair becomes the REAL property of the landlord via this.
Accession
All parcels of land are a little bit different. This is because land is
Unique
This method of property description requires a map of a subdivision map or plat map be recorded.
Lot, Block and tract
Crops that are cultivated annually which the owner is allowed to harvest at harvest time after a sale, unless otherwise stated in the agreement.
Emblements
Elements of Real Property including the ownership of land and the improvements on it as well as a bundle of rights are called
(rights include surface, air, water, subsurface)
Appurtenances
True or False. A mobile home is real property.
False. Unless the mobile home is on a permanent foundation.
If a buyer wants to open a business in a homeshe is buying the agent should check these to make sure she is allowed to.
Zoning laws
The measuring points in a metes and bounds description are known as
monuments