| Term | Definition |
|---|
| Annexation | Change personal property to real property, such as mixing sand, stone and cement, and making a sidewalk |
| Improvement | Man-made attachment to the land, such as a building, streets, utilities |
| Appurtenance | Right, privilege or improvement belong to, and passing with the land |
| Personal Property | Movable objects, not real property, sometimes called chattels, such as cars, cash, stock |
| Bundle of Legal Rights | Ownership of all legal rights: control, possession, use, disposition, enjoyment |
| Physical Characteristics of Real Estate (3) | Immobility, Indestructibility, Uniqueness (non homogeneity) |
| Economic Characteristics of Real Estate (4) | Scarcity, improvements, permanence of investment, area preference (location) |
| Real Property | Interests, benefits and rights inherent in real estate ownership |
| Emblements | Annual, harvestable crops such as corn, wheat; personal property |
| Severance | Changing of real to personal property, such as cutting down a tree, removing stained glass window |
| Fixture | Item that was once personal property and is now permanently affixed and is real property, such as a chandelier or ceiling fan |
| Trade Fixture | Personal property: Business items permanently attached by tenant. May be removed up to last day of lease. If left, landlord acquires by process of accession |
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