Real Estate

Real property is defined as…

the land, everything that is permanently attached to the land, and everything that is appurtenant to or goes with) the land.

Personal property or personalty is considered…

all property that does not fit the definition of real property.

The primary characteristic of personal property is ______.

movability

Items of personal property also referred to as ______

chattels

a chattel is an item of movable _______ _________

personal property

land 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 includes the…

minerals and substances below the earth’s surface, together with the airspace above the land up to infinity

The surface, subsurface, and airspace can be…

owned separately as surface rights, subsurface rights, and air rights and can be severed by separte conveyance

A specific tract of land is commonly referred to as a ______.

parcel

______ is earths surface to the center of the earth and the airspace above the land, including the tees and water

land

_____ ______ is land plus permanent human-made additions

real estate

_____ ______ is real estate plus bundle of legal rights

real property

______ ______ or _______ is defined as land at above and below the earths surface including all things permanently attached to it wethere natural or artificial.

real estate, realty

the term real estate is therfore broader than the term _____ and includes not only physical components of the land provided by nature but also all human-made permanent improvements on and to the land.

land

land is referred to as _______ when streets, utilities, sewers, and other imrovements are brought to the land, making the land suitable for building.

improved