Term
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Definition
| Land, surface rights, mineral rights, air rights, water-related property rights, anything that is attached to the land |
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Term
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Definition
| Movable items or an interest one has in movable items (aka personalty & chattel) |
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Term
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Definition
| article of personal property attached to land or building so it is legally regarded as part of real property (ceiling fans, curtains, light fixtures, etc.) |
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Term
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Definition
| The state or condition of dissimilarity. All property is different with no two parcels being identical. |
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Term
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Definition
| Opposite of heterogeneous. Although properties in a common subdivision appear to be similar, every lot has a separate geographic location or address and is hetergeneous. |
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Term
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Definition
| Geographic location of land is fixed and stationary |
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Term
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Definition
| Land itself cannot be destroyed |
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Term
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Definition
| Economic Characteristic of Land - estimate or opinion of value. In R.E., it is an expert opinion issued by a disinterested person of suitable qualifications. |
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