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Definition
| Land is owned solely by King. He provided protection and stability, the people provided taxes and an army. |
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Definition
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| Allodial system bundle of rights |
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Definition
| Possession, Use, Encumbrance, (able to borrow money against property) Exclusion, (keep anyone off land you want to) Transfer |
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Definition
| Tangible. Earth's surface, air above it, ground below it, any permanent physical attachments. |
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Definition
| Anything that is is not real property. Moveable. Property such as chairs, lamps, etc. A plant growing in the ground is real property, a plant in a pot is personal. Also called chattle. |
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Term
| Legal criteria for determining if property is a fixture or not. |
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Definition
| MARIA - Method of attachment, Agreement, Relationship, Intent, Adaptability. |
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Term
| Physical characteristics of real property |
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Definition
| Immobile, Industructable, non-homogeniety, (no two parcels are alike)law of sertis (property is governed by local laws) |
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Term
| Economic properties of real property |
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Definition
| Scarcity, (the supply cannot be increased) fixity, (property is a frozen, not liquid asset) modification, (improvements can be added or taken away) sertis (location effects value) |
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Term
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Definition
| Transfer of real property |
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Term
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Definition
| Transfer of personal property |
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