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Real Property

Real Estate Principles 1 Chapter 2
Horizontales
The process of converting personal property to real estate
A portion of the earth's surface extending downward to the center of the earth and upward infinitely into space, including all things permanently attached thereto, whether by nature or by a person
Ownership rights in a parcel of real estate that are limited to the surface of the property and do not include the air above it (air rights) or the minerals below the surface (subsurface rights)
Fruits of nature; trees and perennial shrubbery and grasses considered real estate
Fruits of industry; annual plantings or crops considered personal property
Article installed by a tenant under the terms of a lease and removable by the tenant before the lease expires. These remain personal property and are not true fixtures
Ownership rights in a parcel of real estate to the water, minerals, gas, oil, and so forth that lie beneath the surface of the property
Personal property; personalty
Verticales
The earth's surface, extending downward to the center of the earth and upward infinitely into space
An improvement to land is usually a public owned structure, such as a curb, sidewalk, street, or sewer
The concept of land ownership that means ownership of all legal rights to the land - for example: possession, control within the law, and enjoyment - rather than ownership of the land itself
A single-family house constructed entirely in a controlled factory environment
The earth's surface extending downward to the center of the earth and upward into space, including all things permanently attached to it by nature or by people, as well as interests, benefits, and rights inherent in real estate ownership
Items, called chattels, that do not fit into the definition of real property; moveable objects; personalty
Changing an item of real estate to personal property by detaching it from the land; for example cutting down a tree
The right to use the open space above a property, generally allowing the surface to be used for another purpose