Use LEFT and RIGHT arrow keys to navigate between flashcards;
Use UP and DOWN arrow keys to flip the card;
H to show hint;
A reads text to speech;
7 Cards in this Set
- Front
- Back
The two major classifications of property?
|
1. real property
2. Personal property |
|
An item of movable personal property?
|
chattel
|
|
Is defined as the land, everything that is permanently attached to the land, and everything that is appurtenant to (or goes with) the land.
|
Real Property
|
|
Is defined as the land itself, the improvements thereon, and the interests, benefits, and rights inherent in the ownership of real estate.
|
real property
|
|
items of personal property are also referred to as?
|
chattel
|
|
Is defined as the earth's surface extending downward to the center of the earth and upward to infinity, including things permanently attached by nature, such as trees and water.
|
Land
|
|
A specific tract of land is commonly referred to as a?
|
Parcel
|