Chapter 2 - Property Ownership

Real Property

Land and all things attached to it, considered fixed, immovable, and indestructible.

Personal Property

Anything ownable that is not real property, including chattel, emblements, and fixtures.

Improvements

Man-made additions to land like buildings, fences, and landscaping.

Easements

Rights to cross over another's property, including dominant and servient tenements.

Fee Simple Absolute

Highest form of ownership, inheritable and without restrictions.

Life Estates

Based on someone's life, can be conventional or legal, with future interests like reversion or remainder.

Non-Freehold Estates

Created by lease agreements, tenants receive a bundle of legal rights.

Tenancy Types

Include estate for years, periodic tenancy, tenancy at will, and tenancy by sufferance.

Encumbrances

Limitations on property like liens, easements, and licenses.

Legal Property Descriptions

Metes and bounds system, lot and block system, and government rectangular system.