Land is defined as the earth's surface extending downward to the center of the earth and upward into space, excluding permanent natural objects such as trees and water.
a. True
b. False - ANSWERSB. FALSE
Land is defined as the earth's surface extending downward to the center of the earth ...
Land is defined as the earth's surface extending downward to the center of the earth
and upward into space, excluding permanent natural objects such as trees and water.
a. True
b. False - ANSWERSB. FALSE
Land is defined as the earth's surface extending downward to the center of the earth
and upward into space, including permanent natural objects such as trees and water.
Real estate is defined as land at, above, and below the earth's surface, and all things
attached to it, whether permanent or chattel.
a. True
b. False - ANSWERSB. FALSE
Real estate is defined as land at, above, and below the earth's surface, and all things
permanently attached to it, whether natural or artificial.
Real property is defined as the physical land or real estate less the interests, benefits,
and rights that are associated with its ownership.
a. True
b. False - ANSWERSB. FALSE
Real property is defined as the physical land or real estate plus the interests, benefits,
and rights associated with its ownership.
Real property is the legal rights of ownership that attach to the physical surface of the
land, to what lies above and below it, and to what is permanently attached to it.
a. True
b. False - ANSWERSA. TRUE
Real property is the legal rights of ownership (the "bundle of rights") that attach to the
physical surface of the land, to what lies above and below it, and to what is permanently
attached to it.
A property's air rights are considered unlimited, extending upward into the farthest
reaches of outer space.
, a. True
b. False - ANSWERSB. FALSE
Before air travel was common, a property's air rights were considered unlimited,
extending upward into the farthest reaches of outer space. Today, however, the courts
permit reasonable interference with these rights. Pennsylvania law permits local
government authorities to obtain aviation easements.
Personalty is considered to be all property that does not fit the definition of real property.
a. True
b. False - ANSWERSA. TRUE
Personal property, sometimes called personalty, is considered to be all property that
does not fit the definition of real property. An important distinction between the two is
that personal property is movable. Items of personal property are also called chattels.
Trees and crops are generally considered in two classes. Perennials are considered
personal property. Annuals, including emblements, are generally considered real estate.
a. True
b. False - ANSWERSB. FALSE
Trees, perennial bushes, and grasses that do not require annual cultivation are
considered real estate. Annual plantings or crops of wheat, corn, vegetables, and fruit,
known as emblements, are generally considered personal property.
Something that is affixed to the land to be a part of the real estate is a fixture.
a. True
b. False - ANSWERSA. TRUE
An article that was once personal property but has been affixed to the land or a building
in such a way that the law construes it to be a part of the real estate is a fixture.
A tenant's personal property that is attached to a rented space and is used in
conducting a business is a trade fixture.
a. True
b. False - ANSWERSA. TRUE
An article attached to a rented space or building for use in conducting a business, but
which is the personal property of the tenant, is a trade fixture.
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