Exam (elaborations)
Colibri Real Estate. Ch.2-7 Questions and Answers
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Colibri Real Estate. Ch.2-7
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Colibri Real Estate. Ch.2-7*Ch. 2: Real Property Fundamentals (p. 17)* - answer
what is land legally considered to include? what does an owner have rights to? -
answer- *surface* of the earth, *subsurface* of the center of the earth, & *air* above the
land (e.g. mineral rights, water, etc.)
^ owner has rights to all of that within property's boundaries
real estate - answeractual *physical land* (aka unimproved land or raw land) and its
*permanent attachments*, both natural & man-made
fixture - answerAn item of personal property that has been converted to real property by
being permanently affixed to the realty. (e.g. a house, shed, fence, patio)
a major fixture that significantly increases value of the property - answeran
*improvement* (e.g. a building)
how do fixtures become real property? - answer- *physically attached* to real property
- attached *conceptually* bc of a *close association* w/ real property (ex: keys)
- through process of *adoption* (ex: custom-made curtains for unusual window size or
wall-to-wall carpeting)
- *agreement* between parties involved (ex: landlord & tenant)
- its removal would *damage* the property
- *intention* of person affixing personalty to real estate
Fixtures can be _____________ from the land and so revert back to personal property
through the process of ______________. (e.g. a chandelier is removed from the ceiling)
- answerdetached, severance
Real property is __________ (e.g. your sofa, microwave, etc.), while real estate is not. -
answermoveable
natural attachments - answerplants growing on the land called *fructus industrials*
(planted) & *fructus naturals* (naturally grows)
Emblements are considered _____ property. - answerpersonal
A rose bush growing on the land is part of ________ property, but once the flowers are
picked, they become ________ property. - answerreal, personal
, doctrine of emblements - answerA rule that allows a tenant farmer to *re-enter* the land
to harvest crops that were planted by the tenant farmer even *after the land has been
sold* to a new owner.
Real vs. Personal Property
1.) Keys
2.) A tree, Cutting a tree down for firewood, Using wood from one of your trees to build
a deck
3.) Bathtub
4.) Built-in Dishwasher
5.) Stove
6.) Custom curtain or drapes
7.) Chandelier homeowner bought & attached to dining room ceiling
8.) Bookshelves attached to wall
9.) Commercial oven in restaurant
10.) A leased water heater tank
11.) Fence that encloses yard
12.) Venetian blinds on windows
13.) A TV attached to a bracket on living room wall
14.) The bracket for TV mounted on living room wall
15.) Washer & dryer hooked up by tenant for his use
16.) Unattached kitchen island
17.) Window air conditioning unit - answer1.) Real
2.) Real, Personal, Real
3.) Real
4.) Real
5.) Real
6.) Real
7.) Real
8.) Real
9.) Personal
10.) Real
11.) Real
12.) Real
13.) Personal
14.) Real
15.) Personal
16.) Personal
17.) Personal
What's the main difference between land, real estate, and real property? - answer1.)
Land
- air/space
- attached nature
- underground
2.) Real Estate
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