Property Law and Forms of Personal Property

Property Law and Forms of Personal Property - ii....

Info iconThis preview shows pages 1–2. Sign up to view the full content.

View Full Document Right Arrow Icon
THYROFF Property Law and Forms of Personal Property I. Introduction to Property A. Property i. Property - legally protected interest or group of interests a. Physical tangible thing b. Right or interest in physical object B. Kind of Property i. Tangible -physical objects 1. Goods 2. Land, buildings, fixtures ii. Intangible- does not exist in physical form 1. Negotiable instruments, promissory notes, patents, contract rights, copyrights 2. Leases, easements, mortgages iii. Real- LAND and all interest in it iv. Personal- every other thing 1. Tangible assets 2. Intangible assets 3. Intellectual property 4. Severed real property v. Personal Property remains the property of the person who placed it on the real estate, property that has been affixed becomes real C. Fixtures i. Fixtures- article or piece of property that was formerly treated as personal property but has been attached in such a manner to land or a building that it is now designated as real property
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Background image of page 2
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: ii. DETERMINANTS 1. Physical relationship to land or building 2. Intention of person who attached the item 3. Purpose the item serves in relation to the land and in relation to person who brought it there 4. Interest of person in building or land at time of items attachment iii. Can object be removed without causing material injury to land?? 1. If it CANNOT be removed object has become realty or real property 2. If affixed but CAN be removed court will let removal take place iv. Landlord and tenant- tenant may remove trade fixtures-item used inc connection with a trade but not intended to become part of realty Take note I. 4 Form of personal property A. Tangible, intangible, intellectual property, severed real property-something used to be attached but is now detached B. REAL vs. Personal i. Start with assumption real then examine list of requirements...
View Full Document

Page1 / 2

Property Law and Forms of Personal Property - ii....

This preview shows document pages 1 - 2. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online