Missouri Real Estate Chapter 1

fixture

An item of personal property that has been converted to real property by being permanently attached to it and transfer when it's sold

When a ceiling fan or fence is attached to a property it

Becomes a fixture

Personal property can become real property by

Being attached to existing improvements on the property

Emblements

Considered to be personal property of the one who did the planting

If a farm is sold the corn still belongs to the person that planted it. Not the buyer of property

Example of emblements

Cutting down a tree for fire wood. The tree was real property (attached to the land) before it was cut down (severed) from the property

Example of severance

Real Property

Land down to center of the earth and above to infinity, including all improvements to the land

Personal Property

Moveable objects not attached to the land and does not pass with the land when sold

Chattel& Personalty

Other words for personal property

Bill of Sale

Personal property is transferred with a _____.

lease

Personal property of the tenant

Bundle of Rights

Right to sell, rent, enjoy, control, etc.

Real property can be converted to personal property by the act of

Severance

Example of trade fixtures

Stove or dishwasher in a restaurant. Used to provide a service

A example of personal property is a

TV

Trade Fixtures

removable personal property that a tenant attaches to leased land for business purposes