This document discusses concepts and characteristics of real property. It defines property and the bundle of rights that come with ownership, including use, possession, transfer, encumbrance, and enjoyment. Real property is defined as land and anything permanently attached, while personal property is movable. Legal descriptions identify land precisely using methods like metes and bounds, public land surveys, or recorded plats.
Resettlement is involuntary when it occurs without the informed consent of the displaced persons or if they give their consent without having the power to refuse resettlement. This presentation gives an overview on how resettlement can be executed in Tanzania by following World Bank Operational Policy 4.12 and Tanzania legal framework.
Resettlement is involuntary when it occurs without the informed consent of the displaced persons or if they give their consent without having the power to refuse resettlement. This presentation gives an overview on how resettlement can be executed in Tanzania by following World Bank Operational Policy 4.12 and Tanzania legal framework.
Development control rules,
Maharashtra Regional Town Planning Act,
Land acquisition act,
Village planning: Necessity and principles,
Rural developments- Growth
centre approach, Area Development approach, Integrated rural development
approach.
U.P. Apartment (Promotion of Construction, Ownership and Maintenance) Act 2010Subodh Shankar
As of now majority of housing in urban India is being built in the form of multi storied Apartments or Flats. This type of housing typology needs well defined laws to deal with the Construction, Ownership and Maintenance. Uttar Pradesh being the most populous State in India, has enormous stock of such type of houses, many are in the construction phase; and many more will be built in future. Thus, the public at large need to be made aware about the legal backing available for such type of construction. This power point presentation deals with the crucial aspects of the 2010 Act in a highly concise manner.
this presentation explains important concepts/definitions of
PROPERTY, ITS KINDS, IMMOVABLE AND MOVABLE
PROPERTY, LAND, INSTRUMENT, ATTESTED,
REGISTERED, and ACTIONABLE CLAIMS
Chapter 32 The real estate exists 225After readi.docxketurahhazelhurst
Chapter 32: The real estate exists 225
After reading this chapter, you will be able to:
• distinguish between personal property and real estate;
• comprehend the physical characteristics of real estate;
• understand a property’s appurtenant and riparian rights; and
• determine whether an item is a property fixture or trade fixture.
Learning
Objectives
The real estate exists
Chapter
32
For most people, the term “property” means a physical or tangible thing.
However, property can be more broadly defined, focusing on the rights
which arise out of the object. Thus, property is referred to as a bundle of
rights in a thing, which for the purposes of this material, is real estate.
Further, property is anything which can be owned. In turn, ownership is
the right to possess the property owned and use it to the exclusion of others.1
The right to possess and use property includes the right to:
• occupy;
• sell or dispose;
1 Calif. Civil Code §654
Physical and
legal aspects
of real estate
appurtenant rights
common interest
development (CID)
mechanic’s lien
fixture
lien
personal property
profit a prendre
real estate
riparian right
trade fixture
Key Terms
For a further discussion of this topic, see Chapter 3 of Legal Aspects of
Real Estate.
226 Real Estate Principles, Second Edition
• encumber; or
• lease the property.
Property is divided into two primary categories:
• real estate, also called real property or realty; and
• personal property, also called personalty.2
Real estate is characterized as immovable, whereas personal property is
movable.3
Personal property is defined, by way of exclusion, as all property which is
not classified as real estate.4
While the distinction between real estate and personal property seems
apparent at first glance, the difference is not always so clear.
Real estate can be physically cut up by severance of a part of the earth (i.e.,
removal of minerals). Title to real estate can also be cut up in terms of time,
providing sequential ownership.
For example, fee ownership can be conveyed to one person for life, and on
their death, transferred by the fee owner to another. Time sharing is another
example of the allocation of ownership by time, such as the exclusive right
to occupy a space for only three weeks during the year.
Title to real estate can also be fractionalized by concurrently vesting title
in the name of co-owners, such as tenants-in-common who each hold an
undivided (fractional) ownership interest in the real estate.
Possession to real estate can be cut out of the fee ownership for a period of
time. For instance, the fee owner of real estate acting as a landlord conveys
possession of the property to a tenant under a lease agreement for the term of
a lease. When the tenancy expires or is terminated, possession of the property
will revert to the landlord. The landlord retains fee title to the real estat ...
Chapter 32 The real estate exists 225After readi.docxspoonerneddy
Chapter 32: The real estate exists 225
After reading this chapter, you will be able to:
• distinguish between personal property and real estate;
• comprehend the physical characteristics of real estate;
• understand a property’s appurtenant and riparian rights; and
• determine whether an item is a property fixture or trade fixture.
Learning
Objectives
The real estate exists
Chapter
32
For most people, the term “property” means a physical or tangible thing.
However, property can be more broadly defined, focusing on the rights
which arise out of the object. Thus, property is referred to as a bundle of
rights in a thing, which for the purposes of this material, is real estate.
Further, property is anything which can be owned. In turn, ownership is
the right to possess the property owned and use it to the exclusion of others.1
The right to possess and use property includes the right to:
• occupy;
• sell or dispose;
1 Calif. Civil Code §654
Physical and
legal aspects
of real estate
appurtenant rights
common interest
development (CID)
mechanic’s lien
fixture
lien
personal property
profit a prendre
real estate
riparian right
trade fixture
Key Terms
For a further discussion of this topic, see Chapter 3 of Legal Aspects of
Real Estate.
226 Real Estate Principles, Second Edition
• encumber; or
• lease the property.
Property is divided into two primary categories:
• real estate, also called real property or realty; and
• personal property, also called personalty.2
Real estate is characterized as immovable, whereas personal property is
movable.3
Personal property is defined, by way of exclusion, as all property which is
not classified as real estate.4
While the distinction between real estate and personal property seems
apparent at first glance, the difference is not always so clear.
Real estate can be physically cut up by severance of a part of the earth (i.e.,
removal of minerals). Title to real estate can also be cut up in terms of time,
providing sequential ownership.
For example, fee ownership can be conveyed to one person for life, and on
their death, transferred by the fee owner to another. Time sharing is another
example of the allocation of ownership by time, such as the exclusive right
to occupy a space for only three weeks during the year.
Title to real estate can also be fractionalized by concurrently vesting title
in the name of co-owners, such as tenants-in-common who each hold an
undivided (fractional) ownership interest in the real estate.
Possession to real estate can be cut out of the fee ownership for a period of
time. For instance, the fee owner of real estate acting as a landlord conveys
possession of the property to a tenant under a lease agreement for the term of
a lease. When the tenancy expires or is terminated, possession of the property
will revert to the landlord. The landlord retains fee title to the real estat.
Proposed space legislation: real property rights, mining law, salvage law, and other provisions to provide legal certainty and encourage commercial activities in outer space.
Development control rules,
Maharashtra Regional Town Planning Act,
Land acquisition act,
Village planning: Necessity and principles,
Rural developments- Growth
centre approach, Area Development approach, Integrated rural development
approach.
U.P. Apartment (Promotion of Construction, Ownership and Maintenance) Act 2010Subodh Shankar
As of now majority of housing in urban India is being built in the form of multi storied Apartments or Flats. This type of housing typology needs well defined laws to deal with the Construction, Ownership and Maintenance. Uttar Pradesh being the most populous State in India, has enormous stock of such type of houses, many are in the construction phase; and many more will be built in future. Thus, the public at large need to be made aware about the legal backing available for such type of construction. This power point presentation deals with the crucial aspects of the 2010 Act in a highly concise manner.
this presentation explains important concepts/definitions of
PROPERTY, ITS KINDS, IMMOVABLE AND MOVABLE
PROPERTY, LAND, INSTRUMENT, ATTESTED,
REGISTERED, and ACTIONABLE CLAIMS
Chapter 32 The real estate exists 225After readi.docxketurahhazelhurst
Chapter 32: The real estate exists 225
After reading this chapter, you will be able to:
• distinguish between personal property and real estate;
• comprehend the physical characteristics of real estate;
• understand a property’s appurtenant and riparian rights; and
• determine whether an item is a property fixture or trade fixture.
Learning
Objectives
The real estate exists
Chapter
32
For most people, the term “property” means a physical or tangible thing.
However, property can be more broadly defined, focusing on the rights
which arise out of the object. Thus, property is referred to as a bundle of
rights in a thing, which for the purposes of this material, is real estate.
Further, property is anything which can be owned. In turn, ownership is
the right to possess the property owned and use it to the exclusion of others.1
The right to possess and use property includes the right to:
• occupy;
• sell or dispose;
1 Calif. Civil Code §654
Physical and
legal aspects
of real estate
appurtenant rights
common interest
development (CID)
mechanic’s lien
fixture
lien
personal property
profit a prendre
real estate
riparian right
trade fixture
Key Terms
For a further discussion of this topic, see Chapter 3 of Legal Aspects of
Real Estate.
226 Real Estate Principles, Second Edition
• encumber; or
• lease the property.
Property is divided into two primary categories:
• real estate, also called real property or realty; and
• personal property, also called personalty.2
Real estate is characterized as immovable, whereas personal property is
movable.3
Personal property is defined, by way of exclusion, as all property which is
not classified as real estate.4
While the distinction between real estate and personal property seems
apparent at first glance, the difference is not always so clear.
Real estate can be physically cut up by severance of a part of the earth (i.e.,
removal of minerals). Title to real estate can also be cut up in terms of time,
providing sequential ownership.
For example, fee ownership can be conveyed to one person for life, and on
their death, transferred by the fee owner to another. Time sharing is another
example of the allocation of ownership by time, such as the exclusive right
to occupy a space for only three weeks during the year.
Title to real estate can also be fractionalized by concurrently vesting title
in the name of co-owners, such as tenants-in-common who each hold an
undivided (fractional) ownership interest in the real estate.
Possession to real estate can be cut out of the fee ownership for a period of
time. For instance, the fee owner of real estate acting as a landlord conveys
possession of the property to a tenant under a lease agreement for the term of
a lease. When the tenancy expires or is terminated, possession of the property
will revert to the landlord. The landlord retains fee title to the real estat ...
Chapter 32 The real estate exists 225After readi.docxspoonerneddy
Chapter 32: The real estate exists 225
After reading this chapter, you will be able to:
• distinguish between personal property and real estate;
• comprehend the physical characteristics of real estate;
• understand a property’s appurtenant and riparian rights; and
• determine whether an item is a property fixture or trade fixture.
Learning
Objectives
The real estate exists
Chapter
32
For most people, the term “property” means a physical or tangible thing.
However, property can be more broadly defined, focusing on the rights
which arise out of the object. Thus, property is referred to as a bundle of
rights in a thing, which for the purposes of this material, is real estate.
Further, property is anything which can be owned. In turn, ownership is
the right to possess the property owned and use it to the exclusion of others.1
The right to possess and use property includes the right to:
• occupy;
• sell or dispose;
1 Calif. Civil Code §654
Physical and
legal aspects
of real estate
appurtenant rights
common interest
development (CID)
mechanic’s lien
fixture
lien
personal property
profit a prendre
real estate
riparian right
trade fixture
Key Terms
For a further discussion of this topic, see Chapter 3 of Legal Aspects of
Real Estate.
226 Real Estate Principles, Second Edition
• encumber; or
• lease the property.
Property is divided into two primary categories:
• real estate, also called real property or realty; and
• personal property, also called personalty.2
Real estate is characterized as immovable, whereas personal property is
movable.3
Personal property is defined, by way of exclusion, as all property which is
not classified as real estate.4
While the distinction between real estate and personal property seems
apparent at first glance, the difference is not always so clear.
Real estate can be physically cut up by severance of a part of the earth (i.e.,
removal of minerals). Title to real estate can also be cut up in terms of time,
providing sequential ownership.
For example, fee ownership can be conveyed to one person for life, and on
their death, transferred by the fee owner to another. Time sharing is another
example of the allocation of ownership by time, such as the exclusive right
to occupy a space for only three weeks during the year.
Title to real estate can also be fractionalized by concurrently vesting title
in the name of co-owners, such as tenants-in-common who each hold an
undivided (fractional) ownership interest in the real estate.
Possession to real estate can be cut out of the fee ownership for a period of
time. For instance, the fee owner of real estate acting as a landlord conveys
possession of the property to a tenant under a lease agreement for the term of
a lease. When the tenancy expires or is terminated, possession of the property
will revert to the landlord. The landlord retains fee title to the real estat.
Proposed space legislation: real property rights, mining law, salvage law, and other provisions to provide legal certainty and encourage commercial activities in outer space.
Elegant Evergreen Homes - Luxury Apartments Redefining Comfort in Yelahanka, ...JagadishKR1
Experience unmatched luxury at Elegant Evergreen Homes, offering exquisite 2, 3, and 4 BHK apartments in the serene locality of Yelahanka, Bangalore. These meticulously crafted homes blend modern design with timeless elegance, providing a harmonious living environment. Enjoy top-tier amenities and a prime location, making Elegant Evergreen Homes the ideal choice for discerning homeowners.
Referans Bahcesehir which is being constructed, in the center of the most regional destination as Bahçeşehir, shines out with its central location and unique landscape including social facilities such as a fitness center, sauna, sports facilities, children’s playground and recreational areas.
Not only drawing attention for immediate surroundings including commercial centers and private schools but also providing the easily accessible location with closeness to Tem Highway and connection roads, ongoing construction of 3rd Bridge Connection roads and Metro Projects
Bahcesehir is a rising value in the great city of Istanbul… Located at a new transportation junction in the northwest of the City… Located at such a spot that the access roads for the 3rd bridge and for the 3rd Airport will reach the region in 2016. The Marmaray and the Subway will extend all the way to Referans Bahcesehir respectively in 2018 and 2019.
465 flats and 34 stores are designed with an outstanding approach and arranged with a unique perspective offering the following options: 1 plus 1, 2 plus 1, 3 plus 1, 3.5 plus 1, 4 plus 1, and 4.5 plus 1. It is planned so as to safeguard you and your loved ones based upon a modern, technological safety approach. As you experience the joy and luxury here, you will be content and feet at ease.
It is worth seeing both inside and outside with heart-warming cafes, tasty restaurants and elegant stores… And it is ready to offer a vivacious social life with a warm and cozy space design.
A folding swimming pool and indoor swimming pools, playgrounds, Turkish bath, sauna… It has them all. Everything you need for your well-being and for having a pleasant time will be at your service. You simply need to align the rhythm of life with the rhythm of Referans Bahcesehir.
https://listingturkey.com/property/referans-bahcesehir/
Omaxe Sports City Dwarka stands out as a premier residential and recreational destination, offering a blend of luxury and sports-centric living. Located in the thriving area of Dwarka, this project by Omaxe Limited is designed to cater to modern lifestyle needs while promoting a healthy, active living environment.
Investing In The US As A Canadian… And How To Do It RIGHT!! (feat. Erwin Szet...Volition Properties
=== Investing In The US As A Canadian… And How To Do It RIGHT!! (feat. Erwin Szeto) ===
Ever been curious about Real Estate Investing in the US?? At Volition, for the past 14 years, we have been focused on helping investors invest in over $250M of real estate and generate $100M of wealth in the Toronto market, but we are always open to learning more about other business models and learning from other investors.
The US has always been an intriguing market to invest in. But the US is a big place… if you’re interested in investing in the US, you probably have a lot of questions, like:
☑️ Specifically WHERE should you invest?
☑️ What are the best markets to invest in and why?
☑️ How much are property prices there?
☑️ What are the returns like?
☑️ What is cashflow like?
☑️ Compared to investing in Toronto or other cities in Ontario, what are the benefits / tradeoffs?
☑️ What ownership structure should I use?
☑️ What are the tax implications?
☑️ Can I get financing?
☑️ What are tenants like?
Enter Erwin Szeto, a longtime friend of Volition. Since 2005, Erwin Szeto and his team have navigated the challenging landscape of being landlords in Ontario. Now, they are shifting their focus and guiding their clients' investments toward the more landlord-friendly environment of the USA. This decision comes after assisting Canadian clients in transacting over $440,000,000 in income properties. Faced with issues like affordability constraints, tenant-friendly laws, rent control, and rental licensing in Canada, Erwin sees a clear opportunity in the U.S. Here, there is a significant influx of investments leading to the creation of high-paying manufacturing jobs. Erwin and his clients are poised to capitalize on these opportunities where landlord rights are stronger and there is no rent control.
To facilitate this transition, Erwin has partnered with and become a client of SHARE, a one-stop-shop U.S. Asset Manager. Founded by Canadians for Canadians, SHARE enables as passive an ownership experience as possible for landlords in the U.S., while still maintaining direct, 100% ownership.
Erwin is “Making Real Estate Investing Great Again”!!
Website: https://www.infinitywealth.ca/
Facebook: https://www.facebook.com/iwinrealestate and https://www.facebook.com/ErwinSzetoOfficial
Podcast: https://www.truthaboutrealestateinvesting.ca/
Instagram: https://www.instagram.com/iwinrealestate/ and https://www.instagram.com/erwinszeto/
Flat available for sale
Location- Tupudana, Ranchi
Savitri enclave
Area- 3BHK
Rate- 4000/sq.ft.
Super Build Up Area-1629 sq.ft.
Build-up area-1253 sq.ft.
Rate- 65lakh16k(approx)
Floor available- Flat available in all floor(G+12)
Balcony- 2
Washroom- 2
Parking - CAR PARKING
Amenities- Joggers track,temple, children's park,gym,banquet hall (5 Lakh)
Possession year (Handover year)- Dec 2025
Outside View from the apartment and flat balcony is very beautiful.
For more information contact AASHIYANA STAR PROPERTIES
7766900371
Presentation to Windust Meadows HOA Board of Directors June 4, 2024: Focus o...Joseph Lewis Aguirre
Presentation to Windust Meadows HOA Board of Directors June 4, 2024: Focus on Public Safety as Job #1, Engagement, Wealth of HOA, Branding, Communication, Culture, Civic Responsibility
Urbanrise Paradise on Earth - Unveiling Unprecedented Luxury in Exquisite Vil...JagadishKR1
Immerse yourself in the epitome of luxury living at Urbanrise Paradise on Earth. These opulent 4 BHK villas, nestled off the prestigious Kanakapura Road in Bangalore, redefine elegance and sophistication. With meticulous craftsmanship, breathtaking design, and unparalleled amenities, Urbanrise Paradise on Earth offers a sanctuary where every moment is infused with luxury and serenity. Experience a life of grandeur and indulgence at this exclusive residential enclave.
MC Heights-Best Construction Company in jhanglaraibfatim009
MC Heights stands as the epitome of excellence in construction within Jhang. With a commitment to unparalleled quality and innovative design, MC Heights redefines urban living in the heart of Jhang. Offering luxurious residential spaces, cutting-edge commercial complexes, and vibrant community areas, MC Heights caters to the diverse needs of modern lifestyles. Our dedication to superior craftsmanship and customer satisfaction ensures that every aspect of MC Heights exceeds expectations, making it the premier choice for those seeking unparalleled sophistication and comfort in Jhang.
Simpolo Tiles & Bathware
Tile ho,
toh Simpolo.
Since the first steps were taken in 1977, Simpolo Ceramics has carved its niche as a consistently growing organisation with unparalleled innovation and passion rooted in simplicity.
We endure gratification for every experience we offer, created to share something meaningful. It may not resonate with the majority, but that makes us a class apart. If only a handful were to understand the purpose of our existence, we would be proud to have found our believers. Rather, people with whom we can share our beliefs.
VISUALIZER
Design your space in your style with our very own Visualizer. Now, you can choose the tiles of your liking from our wide selection and see how they would look in a space. Select the tile from the multiple options and the visualiser will replace the surfaces in the image with the selected tiles. This way, instead of just your imagination, you can choose the tiles for your place by getting an actual picture of how they would look in a space. So, design your space the way you desire digitally and implement it in real life to get the best results!
You can also share this visualiser with others to help them design their space.
Committed to delighting customers with world-class ceramic products and services. Make Simpolo synonymous with the best quality and set new benchmarks of excellence for all stakeholders. Pursue best business practices with utmost integrity to make Simpolo an exciting organisation to work with, for vendors, channel partners, investors and employees alike.
Gain worldwide recognition in the field of ceramic building products through Research and Innovation and bring an enhanced lifestyle within reach for every household.
Brigade Insignia offers meticulously designed apartments with modern architecture and premium finishes. The project features spacious 3,3.5,4 and 5 BHK units, each thoughtfully planned to provide maximum comfort, natural light, and ventilation.
https://www.newprojectbangalore.com/brigade-insignia-yelahanka-bangalore.html
Green Homes, Islamabad Presentation .pdfticktoktips
Green Homes Islamabad offers beautifully designed 5, 8, and 10 Marla homes near the airport and motorway. Enjoy luxury, convenience, and high rental returns in a prime location.
One FNG by Group 108 Sector 142 Noida Construction UpdateOne FNG
One FNG by Group 108 is launching a new commercial project in Sector 142 Noida. Office space and high street retail shops on the FNG and Noida Expressway. For more information visit the website https://www.onefng.com/
Lixin Azarmehr, a Los Angeles-based real estate development trailblazer, co-founded JL Real Estate Development (JL RED) in 2015 and serves as its CEO. Her expertise has propelled the firm to specialize in luxury residential and mixed-use commercial projects, with a portfolio that features upscale retail spaces and sophisticated care facilities.
Scanning tenants in NYC requires a thorough and compliant approach to ensure you find reliable renters. For a positive rental experience, consider hiring a property management service. Belgium Management LLC specializes in NYC rental property management and tenant relationship management. We prioritize tenant satisfaction, making us a trusted name in New York property management. Our dedicated team ensures tenants feel valued and supported throughout their lease.
Keep Your Home Naturally Cool and Warm Out Change in Seasons
Vinra Construction is a private limited company registered under the ROC. The management has an experience of over 15 years of understanding the needs and delivering apt solutions to the end users We are providing turnkey solutions in construction fields. like Construction, Interior Designing Facility Management, Plantation Management, etc..
Vinra Construction Tech Enabled Company for Eco-Friendly Home Construction
Contact With Vinra for a Greener Future >>> Call us @ 888 4898 765
The SVN® organization shares a portion of their new weekly listings via their SVN Live® Weekly Property Broadcast. Visit https://svn.com/svn-live/ if you would like to attend our weekly call, which we open up to the brokerage community.
Need MCA leads? No sweat! MCAs are great for small biz funding. Learn how to snag top-notch leads: businesses needing cash, with repayment ability, decision-makers, and accurate contacts. Use content, social ads, lead platforms, partnerships, and capture processes for quality leads.
https://www.leadgeneration.media/blog/b/streamline-your-mca-sales-process-with-pre-qualified-leads
BricknBolt Understanding Load-Bearing Walls and Their Structural Support in H...BrickAndBolt
Load-bearing walls are the backbone of any home construction, providing crucial structural support that carries the weight of the house above. For companies like Brick and Bolt Mysore and Bricknbolt Faridabad, understanding and properly implementing these elements are key to constructing safe and durable buildings.
Torun Center Residences Istanbul - Listing TurkeyListing Turkey
THERE IS LIFE IN ITS CENTER!
The most energetic spot of the city that will add utterly different pleasures to your life, with a park that will make Istanbul breathe, delighting indoor and outdoor bistros, cafes, restaurants, the brand-new Food Hall concept, where dozens of unique tastes are served together, market area, cinema, theater, fitness club, SPA and event venue...
All the pleasures that will enrich your lives are awaiting you on the most beautiful side of the city, at Torun Center Residences. In Mecidiyeköy, where the heart of Istanbul beats, business, life and entertainment opportunities are located at the exact center, at Torun Center, the most beautiful side of the city.
Penthouse apartments and different styles of flats from 1 + 1 to 4 + 1, from 100 to 425 square meters in a 42-story residence tower, have been designed for those who want to live in the center of magnificence. Torun Center is the redefinition of a better life with specially landscaped floor gardens, apartment options with private balconies, and automatic glass systems equipped with Trickle Ventilation that offers clean air comfort.
Business and life in the same place
Excellent service
Torun Center has many delightful details, from a swimming pool to sunbathing and resting terrace. With 24/7 concierge services, 24/7 security, valet, technical service, closed-circuit camera system (CCTV), central heating and cooling system, it makes your life easier.
Delightful details
The two-story Torun Center Lounge, with its indoor and outdoor seating areas, children's playroom, private dining and TV lounge, promises unforgettable memories to you and your loved ones with its unique Istanbul view.
Neighboring to the most pleasant square of Istanbul
A few steps from the Torun Center Residences, you can reach the city's most modern city square and open the doors of a quality city life. Torun Center Residences brings together on the same project the long-awaited city life for Istanbul and gourmet restaurants, cafes, gym and SPA, and state-of-the-art cinema and Artı Stage, hosting the most famous plays of the season.
Located at the intersection of alternative public transportation options such as the metro and Metrobus, Torun Center comes to the fore as the most accessible office for both sides of Istanbul. With a central location and rich transportation lines, Torun Center offices make life easier for employees and increase productivity.
1. Unit 2: Real Property Concepts and
Characteristics
2. Property
• Introduction
o Property is anything that may be owned and gained lawfully.
o The bundle of rights consists of all legal rights that are
attached to the ownership of physical property.
Use = The right to use property, within the law in any way, or
for any purpose.
Possess = The right to live on the property and the right to
keep others out.
Transfer = The right to sell property, give it as a gift, or
dispose of it in any way permitted by law.
Encumber = The right to borrow money and use property as
security for the loan.
Enjoy = The right to peace and quiet enjoyment without
aggravation by others.
3. Property (continued)
• Personal Property
o Personal property refers to those items that are not
permanently attached to land and are usually moveable and
portable.
Personal property can also be referred to as personalty or
chattel.
• Real Property
o Real property is immovable and is usually transferred or sold
by a deed.
o Land
Land is three-dimensional because land includes the surface,
limited quantities of airspace above the surface, and the
materials and minerals beneath the surface to the center of
the earth (subsurface).
Surface rights include the right to build on the land, grow
crops, hunt, fish, and the basic enjoyment of the land.
4. Property (continued)
• Real Property
o Attachments to the Land
Items permanently attached to the land are real property and
belong to the owner. These items include natural
attachments, improvements, and fixtures.
Natural attachments are growing plants attached by their
roots, such as trees, shrubs, and flowers. The two types of
natural attachments are fructus naturales and fructus
industriales.
• Fructus naturales are naturally occurring plant growth, such as
grasses, trees, and shrubs and are considered part of the real
property.
• Fructus industriales are annual crops produced by human
labor, such as fruits, nuts, vegetables, and grains.
• Emblements are annual crops cultivated by tenant farmers and
sharecroppers.
5. Property (continued)
• Real Property
o Attachments to the Land
Items permanently attached to the land are real property and
belong to the owner. These items include natural
attachments, improvements, and fixtures.
Natural attachments are growing plants attached by their
roots, such as trees, shrubs, and flowers. The two types of
natural attachments are fructus naturales and fructus
industriales.
• Fructus naturales are naturally occurring plant growth, such as
grasses, trees, and shrubs and are considered part of the real
property.
• Fructus industriales are annual crops produced by human
labor, such as fruits, nuts, vegetables, and grains.
• Emblements are annual crops cultivated by tenant farmers and
sharecroppers.
6. Property (continued)
• Real Property
o Attachments to the Land
Improvements, such as houses, garages, fences,
swimming pools, or anything resting on the land to
become permanent are owned as a part of the land.
A fixture is anything that is permanently attached to real
property by man or by nature. It also includes anything
permanently attached to the fixture, such as the door to a
cabinet.
• There are five tests used to determine if property is
considered a fixture or personal property. The tests are
agreement of the parties, method of attachment,
adaptation, intent of the parties, and the relationship of the
parties.
7. Property (continued)
• Real Property
o Appurtenances
An appurtenance is anything belonging to a particular piece
of land that is used for its benefit.
Air rights are the rights an owner of real property has to the
air space above the property to a reasonable height.
Water in its natural state on the surface of the land or
underground is real property.
• If it is taken and bottled, then it becomes personal property. In
addition, certain water rights that go with the land are
considered real property.
• The owner of property bordering a stream or river has riparian
rights, which include the rights of irrigation, swimming,
boating, and fishing among others.
• Owners of land bordering a lake possess littoral rights.
8. Property (continued)
• Real Property
o Appurtenances
The two kinds of support that neighboring property
owners owe each other are lateral support and subjacent
support.
• Lateral support is the absolute right of the property owner
to have his or her land held in place from the sides
(laterally) by adjoining land so that it will not fall away.
• Subjacent support is the absolute right of the property
owner to have his or her land supported from beneath its
surface.
9. Property (continued)
• Real Property
o Appurtenances
Subsurface rights are the rights to the natural resources,
such as minerals, oil, and gas below the surface.
• Minerals are owned as real property. However, oil and gas
are considered migratory minerals and may not be owned
until taken from the ground, at which time they become the
personal property of whoever removed them.
• An easement is a right, privilege, or interest limited to a
specific purpose which one party has in the land of
another.
• A right of way is a legal right to pass over another
person’s land.
10. Property (continued)
• Real Property
o Anything Immovable by Law
Some items are considered immovable by law and must be
sold with the property.
Established trees are an example of this.
11. Legal Descriptions
• A legal description is a written description of a
particular parcel of land that identifies it as
precisely as possible.
• Methods of Land Description
o Metes and Bounds
Typical use = Irregular parcels of land
o Public Land Survey System
Typical use = Rural, undeveloped areas
o Recorded Plat System
Typical use = Urban areas, cities
12. Legal Descriptions (continued)
• Methods of Land Description
o Metes and Bounds
The metes and bounds description is the oldest method used to
describe real property.
Metes mean measurements in length (measured in feet) from one
monument to another.
Bounds refer to the direction.
A metes and bounds description measures the dimensions of the
property using direction and distance between landmarks and survey
monuments.
A landmark is a geographic feature, such as a large rock, an old tree,
a fork in a creek, or the intersection of two roads.
Survey monuments (or markers) used by surveyors are man-made
objects, such as stakes or iron posts.
A metes-and-bounds description starts at a well-marked point of
beginning (POB), and—following the boundaries of the land—
measures the distances between landmarks, then returns to the
beginning.
13. Legal Descriptions (continued)
• Methods of Land Description
o Public Land Survey System
When a survey is done using the PLSS, all its distances and bearings
are measured from two imaginary lines that are at right angles to
each other.
These two lines, from which the measurements are made, are the
principal meridians, which run north and south, and the base lines
that run east and west.
After establishing a starting point at the intersection of a chosen
principal meridian and baseline, the government surveyors drew
imaginary vertical lines called range lines every six miles east and
west of the meridian to form columns called ranges.
Imaginary township lines were drawn every six miles north and south
of the baseline to form a horizontal row or tier of townships.
Townships is a grid of squares, and each township is six miles by six
miles (36 square miles).
14. Legal Descriptions (continued)
• Methods of Land Description
o Recorded Plat System
The recorded plat system describes property by identifying the
registered lot and the block on a recorded subdivision plat or survey.
The recorded plat system is also called the lot and block system or
subdivision map system.
It is the most convenient and easily understood method of land
description and is most common for metropolitan use.
A plat is a subdivision map filed with the county recorder's office that
shows the location and boundaries (lot and block number) of
individual parcels of land (lots), street right-of-way, subdivision
name, and easements.
A lot is a single parcel of land that will be sold within a subdivision to
a buyer.
A block is a contiguous group of lots, which are generally bounded
by man-made features, such as streets or natural features, such as
creeks.
When developers divide parcels of land into lots, they prepare and
record a subdivision map or plat map.