Housing Anyone?
Population, Demographics, Employment and Wage Levels
Factors Affecting Demand
The difference between the market value of the property and the amount still owed on it.
What is equity?
This right allows an owner to exclude others from using the property.
What is the right of exclusion?
Is personal property that has been so attached to land or a building that by law, it becomes part of the real property.
What is a fixture?
These are the 3 physical characteristics of land.
What is immobility, uniqueness, and indestructibility?
A shortage of this can decrease the amount of new construction.
What is a shortage of skilled labor
These items of personal property are called this, and can include chairs, tables and refrigerators.
What is chattel?
This right allows an owner to use the property in any legal manner
What is the right to enjoyment?
This legal test of a fixture assess whether the item can be removed without causing damage to the surrounding property.
What is the method of attachment?
The interests, benefits and rights that are automatically included in the ownership of real estate (real estate plus bundle of legal right).
What is real property?
Labor force, construction and material costs
An item of real property can become personal property by way of this.
What is severence?
This legal right give the owner the right to transfer or encumber the property.
What is the right of disposition?
In this legal test of a fixture, a court will generally favor a tenant over a landlord, and a buyer over a seller.
What is Relationship of the Parties?
Common-law rights that are granted to an owner of land bordering a non-navigable waterway.
What is riparian rights?
Prices for good and services in the market are established by the operation of these 2 factors
What are Supply and Demand.
Increases in the land resulting from the deposit of soil by the water's action.
What is accretion?
This is something that "runs with the land" and normally transfers to the new owner when the property is sold
What is appurtenance?
This legal test of a fixture uses how the item is being used. Is it being used as real property or personal property?
What is Adaptability of the item for the land's ordinary use?
Under this doctrine, the right to use any water, with the exception of limited domestic use, is controlled by the state rather than by the landowner adjacent to the water.
An example of this is real estate taxation, which can have positive or negative effects affecting the supply of housing.
What is Local Government Factors?
The sudden removal of soil by an act of nature - an earthquake, or mudslide.
What is avulsion?
The document by which an owner transfers title to the property
This should be the most important consideration of whether an item is a fixture but the actions of the tenant my not be consistent with the tenant's earlier intention.
What is the Intention of the person in placing the item on the land?
They are the 4 economic characteristics of real estate.
What is Scarcity, Improvements, Permanence of Investment, and Area of preference of situs?