Real property

“ It further provides: 'The term 'real property' as used in this compact includes lands, * * * and interests in land, * * * and any and all things and rights usually included within the said term, and includes not only fees simple and absolute, but also any and all lesser interests, such as easements, rights of way, uses, leases, licenses, and all other incorporeal hereditaments and every estate, interest or right, legal or equitable, including terms of years and liens thereon by way of judgments, mortgages, or otherwise, and also claims for damage to real estate.' N.J.S.A. 32:8-4. ”

“ Personal property is not subject to various incidents of real property, such as rent, dower or escheat. (3) On the death of the owner intestate real property descends to the heir, personal property is divided according to the Statute of Distributions. (4) Real property as a general rule must be transferred by deed; personal property does not need so solemn a mode of transfer. (5) Contracts relating to real property must be in writing by the Statute of Frauds, 29 Car. ”

“ Real property of individual The individual owns dwelling houses, granaries, camote lands about the dwellings and in the mountains, millet and maize lands, in the mountains, irrigated rice lands, and mountain lands with forests. In fact, the individual may own all forms of real property known to the people. ”

“ Though this may be the consequence the rest of the will is not thereby impaired. The property given is either real or personal. Real property consists of land extending indefinitely upward and downward, every building thereon, every growing thing, likewise all minerals and in some cases even ice. ”

“ I.13 If things were always owned in fee simple, i.e. if there were no division of ownership,—no partnership rights, no shares, and no stock companies,—there would be little practical need to distinguish property from wealth; and as a matter of fact, in the rough popular usage, any article of wealth, and especially real estate, is often inaccurately called a "piece of property." ”

“ Where these two rights do exist, in their more or less modified form, you have the explanation of the fact that when a married man sells real property, his wife joins in the deed, or when a married woman sells real property, her husband joins in the deed. The act of either in joining, releases the dower or curtesy right and allows the purchaser to get a clear title.
CONFLICT OF LAWS.—We have already referred to this topic. It frequently happens that a person dies owning real property located in a number of States. ”

“ In a devise of real and personal property, the law makes a distinction as to the two estates, in the construction of devisees; and, when technical language is used, the devisee takes an absolute estate in the personal, and a limited estate, or an estate tail, in the real property. ”

“ If personal property was acquired by specific bequest, or if real property was acquired by general or specific devise or by intestacy, the basis shall be the fair market value of the property at the time of the death of the decedent. ”

“ Wheaton says that the law of the place where real property is situated governs exclusively as to the tenure, the title, and the descent of real property, and the notes of the editor fully confirm the proposition. ”

“ Land is real property, or real estate. Stocks, lumber, evidences of debt, and all that property which is classed as movable is personal estate. Personal estate may become real estate. How? Take lumber, bricks, etc., which are personal property, and therewith construct a house, and locate it, with stone or brick foundation, on your land. ”

“ By immovable is meant real property as distinguished from personalty, and by tangible the intention is to exclude from the present consideration such intangible items as good-will, patents, copyrights, trade-marks, franchises, and the like.
In accounting for this group of assets there is no place for the caption “real estate.” In its stead the two titles, “land” and “buildings,” are used. This is to avoid confusion and to afford a better basis for calculating depreciation. ”

“ The aim of the author is to make the principles and the leading features of the English law of real property intelligible to a reader who is without legal training, but is willing to take some little pains to understand. "Almost every possible kind of ownership and almost every possible relation of owners and occupiers of land to the state and to one another have at one time or another existed in England, and left a more or less conspicuous mark in the composite structure of the English law of real property." ”

“ The fifth kind of property is representative property, consisting of documents or money, or rather documents only—for money itself is only a transferable document, current among societies of men, giving claim, at sight, to some definite benefit or advantage, most commonly to a certain share of real property existing in those societies. ”

“ Feudal principles apply to real estate. The notions of personal property of the common law, which is founded on natural law, depend materially on possession, and that of an adverse character, exclusive in its nature and pretensions. ”

“ All individuals, partnerships, corporations and other legal entities, as well as their agents and representatives, could now discriminate with respect to their residential real property, which is defined as any interest in real property of any kind or quality, 'irrespective of how obtained or financed,' and seemingly irrespective of the relationship of the State to such interests in real property. ”

“ If, then, a certain number of men are the sole dealers in articles of primary necessity, it follows that the public treasury, in passing and repassing through their hands, deposits and accumulates real property there. ”

“ The insurance companies which held the mortgages had a very different kind of property, called by the lawyers incorporeal property, that is, not material property but an interest in the real or material property. ”

“ Long terms in some states have annexed to them the properties of freehold estates. In some states estates pur autre vie descend like real property; in others an estate pur autre vie is deemed freehold only during the life of the grantee ”

“ The very distinction made in legal terminology between real and personal property is but the survival of a primitive distinction between what was originally looked upon as common property and what from its nature was always considered the peculiar property of the individual. ”

“ Titles to estates can be made with greater facility, and it may be presumed that it will not be necessary to make the expensive and redundant conveyances which appear to be required in the transfer of real property at home. ”

“ Examples of property prima facie personal which is treated as real are fixtures, heirlooms, such as deeds and family portraits, and shares in some of the older companies, as the New River Company, which are real estate by statute. In ordinary cases shares in companies are personal property, unless the shareholders have individually some interest in the land as land. ”

“ It has control over property within its limits; and the condition of ownership of real estate therein, whether the owner be stranger or citizen, is subjection to its rules concerning the holding, the transfer, liability to obligations, private or public, and the modes of establishing titles thereto. ”

“ Where they differ is in the conventionalized forms of procedure. There are, however, no differences common to all parts of the New World, each geographical area manifesting some individuality.
CONCEPTIONS OF PROPERTY AND INHERITANCE
From our own point of view, property may be conveniently comprehended under the classes of real and personal. Real estate, or property in lands, is with us an individual matter, but such an idea seems to have been foreign to the New World. Here the land, in so far as it was owned at all, was the property of the family group. ”

“ Thus an apple on the tree is real estate, but when fallen upon the ground it becomes personal property. Running water accumulated in a pond is real estate, though the owner is not permitted to invest it with the peculiar attribute of real estate—namely, stability—by permanently arresting its flow. In some States the engines, water wheels, shafting, and even belts of factories are real estate, while looms and lathes are personal property. ”

“ In the latter case the road, its bed, its rolling stock, and much other property probably was not conveyed, and no expression is found implying that all its lands were conveyed; and if we limit the words 'all other property' to what we have supposed to be their meaning, there is nothing else to imply that the company intended to mortgage all its property of every kind and description, whether real or personal. ”

“ The owners of personal property avoid their obligations in a manner still more reprehensible. They either conceal it or lie about it. While its amount during the past forty years has reached the enormous total of $18,000,000,000, or more than four times the value of the real estate, its assessed value has not increased. ”

“ My position as regards the moneyed interests can be put in a few words. In every civilized society property rights must be carefully safeguarded; ordinarily, and in the great majority of cases, human rights and property rights are fundamentally and in the long run identical; but when it clearly appears that there is a real conflict between them, human rights must have the upper hand, for property belongs to man and not man to property. ”

“ The man who owns a house has the right to benefit by enjoying its shelter, by selling it, or by renting it. This right, the right to or in the benefits of wealth—or more briefly, the right to or in the wealth itself—is called a "property right" or simply "property." ”

“ Deeds, mortgages, bank balances, money in hand, corporation stocks and the like, belong in no Economic category at all below the surface of customary titles to property. They are nothing but evidences of legal title to property of any kind—Natural Resources, Artificial Objects, Man himself when and where ownership of Man by Man is conventional. ”

“ It is to give the soil its value every year; it is, by annually renewed creation, to prevent the diminution or destruction of the value of a piece of land. Admitting, then, that property is rational and legitimate,—admitting that rent is equitable and just,—I say that he who cultivates acquires property by as good a title as he who clears, or he who improves; and that every time a tenant pays his rent, he obtains a fraction of property in the land entrusted to his care, the denominator of which is equal to the proportion of rent paid. ”

“ In fact, they are always either deeds of gift, or of sale, or of exchange, or of the grant of precaria. It is impossible not to allow that the thousands of deeds of this kind are so many proofs of private property, since you can neither sell nor give away what is not already your own. ”

“ In a strict legal sense, land is not 'property', but the subject of property. The term 'property', although in common parlance frequently applied to a tract of land or a chattel, in its legal signification 'means only the rights of the owner in relation to it'. 'It denotes a right over a determinate thing'. 'Property is the right of any person to possess, use, enjoy, and dispose of a thing'. ”

“ The term 'property' is used in a comprehensive sense and includes all objects or rights which are susceptible of ownership. The term 'interest' refers to the extent of ownership, that is, to the estate or the quality and quantum of ownership by the surviving spouse or other person, of particular property.' S.Rep. ”

“ But property is also the right to exchange, to transfer, and to sell. If, then, the social condition is such that the proprietor, ruined by usury, may be compelled to sell his possession, the means of his subsistence, he will sell it; and, thanks to the law, accumulated property—devouring and anthropophagous property—will be established. ”

“ Those who are giving their time and energy to the production of wealth, face the fact that property rights have been so construed as to give property owners a first claim on production and to make property income a fixed charge on the industry of the community. ”

“ Should there be the slightest irregularity in the method of transfer, men, members of society, imprescriptible possessors of the land, might be deprived at one blow of property, possession, and the means of production. ”

“ Property is the right to USE and ABUSE. If, then, government is economy,—if its object is production and consumption, and the distribution of labor and products,—how is government possible while property exists? And if goods are property, why should not the proprietors be kings, and despotic kings—kings in proportion to their facultes bonitaires? And if each proprietor is sovereign lord within the sphere of his property, absolute king throughout his own domain, how could a government of proprietors be any thing but chaos and confusion? ”

“ For property which can be regarded as a condition of the performance of function, like the tools of the craftsman, or the holding of the peasant, or the personal possessions which contribute to a life of health and efficiency, forms an insignificant proportion, as far as its value is concerned, of the property rights existing at present. ”

“ Nevertheless, by a higher law, the property will, year after year, write every statute that respects property. The non-proprietor will be the scribe of the proprietor. What the owners wish to do, the whole power of property will do, either through the law, or else in defiance of it. Of course, I speak of all the property, not merely of the great estates. When the rich are outvoted, as frequently happens, it is the joint treasury of the poor which exceeds their accumulations. Every man owns something, if it is only a cow, or a wheelbarrow, or his arms, and so has that property to dispose of. ”