Lesson Objectives

• Distinguish personal property from real property.
• Distinguish chattels real from chattels personal.
• Define the term real estate.
• Identify the defining boundaries of land.
• Distinguish between natural and artificial attachments.
• Distinguish between perennial plants (or fructus naturales) and emblements (or fructus industriales).
• Identify improvements (or artificial attachments).
• Distinguish between a bill of sale and a deed.
• Define fixture and identify what determines whether a fixture is personal or real property in the absence of an agreement.
• Identify the method by which fixtures become personal property.
• Define and identify trade fixtures.