utah real estate licensing-property
Terms
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- Questions
- Answers
- Accession
- Adding to property by man or nature
- severance
- process of turning real property into personal property by "severing" it from the property
- allodial
- the capitalist system that allows for ownership of real property
- appurtenant
- things attached to the land or deed
- Bill of Sale
- the manner in which the sale of PERSONAL PROPERTY is documented
- Chattel
- synonym for personalty, personal property
- corporeal
- term used to describe something which is physical, tangible
- deed
- the document that serves as evidence of ownership, as well as the document of conveyance
- emblements
- crops nurtured in the year of sale or lease=personal property
- Fixture
- that which is attached to the phusical property w/o losing it's identity ALWAYS considered real property
- improvements
- man made modifications to real property
- incorporeal
- that which is not tangible-easments or leasehold rights
- lateral support
- support given to adjoining land, such as a retaining wall
- mineral rights
- real property subsurface extending downward to the center of the earth
- non-homogenous
- no two properties are alike
- personal property
- moveable and destructable property, the opposite of real property , chattel, personalty
- situs
- location
- trade fixture
- always personal property, fixtures necessary for the trade performed in the property ie dentist chair