Property Characteristics

Property Characteristics & Law > Exam relevance: Property Ownership (8%) + Land Use Controls (5%) = ~13% of the national exam — roughly 10–13 questions. Mastering fixtures, legal descriptions, easements, and land use controls is essential for a passing score. --- ## Real Property vs. Personal Property The exam constantly tests whether something is real property (stays with the land) or personal property (moves with the seller). - Real property: land, improvements permanently attached to land, and legal rights attached to it — including mineral rights, air rights, and water rights. - Personal property (chattel): movable items; not permanently affixed; transferred by bill of sale, not deed. The hard question is always: *Did that item cross the line from personal property to real property (a fixture)?* ### The MARIA Test for Fixtures Use MARIA to determine whether an item has become a fixture: | Letter | Factor | What to Ask | |--------|--------|-------------| | M | Method of Attachment | Is it bolted, nailed, cemented in? | | A | Adaptability | Is it custom-fitted to the property? | | R | Relationship of Parties | Buyer vs. seller? Landlord vs. tenant? | | I | Intention | Did the party intend it to be permanent? | | A | Agreement | Is there a written agreement? (Controls all others) | > Key rule: Written agreement overrides everything else in MARIA. If the contract says the chandelier stays, it stays — period. ### Two Important Exceptions - Trade fixtures: Business equipment installed by a *commercial tenant* (display cases, restaurant booths). These remain personal property and must be removed before the lease ends. Damage from removal is the tenant's responsibility.…