Real Estate Property

Real Property

The land and everything attached to it and rights of ownership.

Personal Property

All tangible items not permanently attaches to land, the key is an exception.

Attatchments

Things that are attached to real estate, thus become party of the real property.

Natural Attatchments

Plants, trees, and crops. 

Doctrine of Emblements

A tenant farmer may return to pick up the first crop after land is sold

Man-made Attatchments

Fences, buildings.

Improvements

Major fixtures, such as buildings

Trade Fixture

Items attached by a tenant for use in a business, and are an exception since they can be removed by tenant after lease ends.

Appurtenances

Rights that go along with, or relate to, real estate. Air, water, mineral, and bundle of rights.

Riparian Rights

Rights of a landowner adjacent to a river.

Littoral Rights

Rights of a landowner adjacent to a lake.

Appropriative Rights

Granted by a government permit to use water for irrigation on non-adjacent land. 

Mineral Rights

Can be sold separately from the land. Coal or ore.

Bundle of Rights

Rights of ownership in real estate. Right of use, enjoyment, and disposal.

Fee Simple

A freehold estate that gives the best interest in real property recognized by law. Represents complete ownership. 

Determinable Fee/Conditional Fee

A freehold estate that has similar interest to a fee simple estate, but limited by a condition on the estate.

Life Estate

A freehold estate where the estate cannot be passed on to the life of estate holders heirs.

Ordinary Life Estate

A freehold estate that depends on a subject holders life for the estate.

Revision

At termination of the life estate, the property reverts to the grantor or the grantor’s heirs.

Remainder

At the termination of life estate, the property passes to a third party.

Estate for Years

A leasehold estate that is in effect until a specified expiration date or until the end of specified term. 

Period to Period

A leasehold estate with no set expiration date, although the length ofthe period is agreed upon by both parties.

Tenancy at Will

A leasehold estate where tenancy occurs with the consents of the landlord and runs for an indefinite period of time. 

Tenancy at Sufferance

A leasehold estate where the tenant continues to occupy a property after their rights are terminated, without the consent of the landlord.