Pages

Wednesday, September 28, 2011

Real Property vs. Personal Property

Real property is capable of being transferred from place to place without damaging the real property that it was attached to. Art. 415 of the Civil Code also gives us a list of what real property consists of while Arts. 416 to 417 give a list of what personal property is. Real property is classified into 4 groups: by nature, destination, analogy and incorporation.

Real Property by Nature

1.) Land as well as buildings and other forms of construction attached to the soil
2.) Trees and plants, if they weren't planted by anybody
3.) Mines, quarries and slag dumps (slag dumps form part of the bed and water)

Real Property by Incorporation

1.) Trees and plants that were planted (the fruit hanging on the trees is considered part of real property until harvested or removed)
2.) Things attached to the real property in such a way that they can't be removed without damaging the real property
3.) Statues, paintings, reliefs that have been put there by the owner with the intention that they form part of the property permanently

Real Property by Destination

1.) Fertilizer that was actually used on the land (if it's not used, it's considered personal property)
2.) In case there is an industry on the land, machinery receptacles, instruments or implements directly related to the industry in question or public works
3.) In case of lakes, rivers or coasts, docks and other structures which are intended by their nature or object to remain at a fixed place (even if floating)
4.) Animal houses, pigeon houses, fishponds, breeding places, beehives and even the animals in these places; in case the owner put all these (buildings, animals, etc.) there, intending to have them permanently part of the land

Real Property by Analogy

1.) Public works contracts as well as servitudes and other real rights over immovable property

Note: Timber cut down on timberland is considered real property until it's taken out of the land. Also, the above list is Art. 415 broken down into the academic classification.

Personal Property (Art. 416-417)

1.) Those that can be appropriated but aren't mentioned in Art. 415 (the list above)
2.) Real property considered personalty by law
3.) Forces of nature brought under the control of science (electricity, nuclear energy, etc.)
4.) Generally, all things that can be transferred from one place to another without damaging the real property they're attached to
5.) Obligations and actions whose object is movable property or demandable sums of money
6.) Shares of stock of commercial, industrial or agricultural entities even though they may have real estate

2 comments:

  1. this is applicabale to solstice??? I'm not sure im living here hehe

    ReplyDelete
  2. Your Blog is helpful for us ordinary people especially to REal estate Practioners like me as Real Estate Broker. Thank you so much. Just keep it up!

    ReplyDelete