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--- classes_of_property [2025/12/23 09:57] – created reidjs
+++ classes_of_property [2025/12/23 10:01] (current) – reidjs
@@ Line 2: / Line 2: @@
 ===== 1. Real Property (Real Estate) =====
 Real property includes land and all things permanently attached to it.
-- Land (surface, subsurface, and air rights)
-- Improvements (buildings, structures)
+  * Land (surface, subsurface, and air rights)
-- Fixtures (items permanently attached to the land or improvements)
+  * Improvements (buildings, structures)
-- Appurtenances (rights attached to the land, such as easements)
+  * Fixtures (items permanently attached to the land or improvements)
+  * Appurtenances (rights attached to the land, such as easements)
 Ownership of real property includes the bundle of rights: possession, use, exclusion, enjoyment, and disposition.
 ===== 2. Personal Property (Chattel) =====
 Personal property consists of movable items not permanently attached to real property.
-- Furniture
-- Appliances not built-in
+  * Furniture
-- Vehicles
+  * Appliances not built-in
-- Clothing and tools
+  * Vehicles
+  * Clothing and tools
 Personal property transfers by bill of sale, not by deed.
 ===== 3. Fixtures =====
 Fixtures are items that were once personal property but have become real property due to attachment or intent.
 California uses the MARIA test:
-- Method of attachment
-- Adaptability to the property
+  * Method of attachment
-- Relationship of the parties
+  * Adaptability to the property
-- Intent of the parties
+  * Relationship of the parties
-- Agreement of the parties
+  * Intent of the parties
+  * Agreement of the parties
 Unless excluded in writing, fixtures transfer with the real property.
 ===== 4. Trade Fixtures =====
 Trade fixtures are items installed by a tenant for business use.
-- Remain personal property
-- May be removed by the tenant before lease expiration
+  * Remain personal property
-- Tenant must repair damage caused by removal
+  * May be removed by the tenant before lease expiration
+  * Tenant must repair damage caused by removal
 ===== 5. Freehold Estates =====
-Ownership interests of uncertain duration:
+Ownership interests of uncertain duration.
-- Fee Simple Absolute (highest form of ownership)
-- Life Estate (ownership for the duration of a person’s life)
+  * Fee Simple Absolute (highest form of ownership)
+  * Life Estate (ownership for the duration of a person’s life)
 ===== 6. Leasehold Estates =====
-Possessory interests of fixed duration, held by tenants:
+Possessory interests of fixed duration, held by tenants.
-- Estate for Years
-- Periodic Estate
+  * Estate for Years
-- Estate at Will
+  * Periodic Estate
-- Estate at Sufferance
+  * Estate at Will
+  * Estate at Sufferance
 Leasehold estates are considered personal property in California.
 ===== 7. Public vs. Private Property =====
-- Private property: owned by individuals or entities
-- Public property: owned by government entities (federal, state, local)
+  * Private property: owned by individuals or entities
+  * Public property: owned by government entities (federal, state, local)