Exam (elaborations)
Real Estate Exam Prep (Champions; Texas) /Questions With Complete Solutions Rated (A+)
- Course
- Institution
Real Estate Exam Prep (Champions; Texas) /Questions With Complete Solutions Rated (A+)
[Show more]
Seller
Follow
HELLENAH
Reviews received
Content preview
Real Estate Exam Prep (Champions; Texas) 2023 -2024/Questions With Complete Solutions Rated (A+)
Quiz :appurtenance - √Answer :term used to describe rights, privileges or
improvements that belong to and pass with the land
Quiz :improvements - √Answer :man's additions to the land such as building
and landscaping
Quiz :personal property - √Answer :also called chattel or personalty; a right or
interest in smiting of a temporary or movable nature and includes anything not
classed as real property. Real property becomes personal property through
severance.
Quiz :bill of sale - √Answer :ownership of chattel or personalty is transferred
via this, also called a non-realty item addendum
Quiz :fixture - √Answer :item that was personal property but has been
attached in such a way that it has become real property such at tv brackets
Quiz :installed - √Answer :often indicates a permanent attachment
, Quiz :annexation - √Answer :the process of attaching an item of personal
property to real estate such that it becomes a fixture
Quiz :severance - √Answer :the process of real property becoming personal.
Fixture is uninstalled and becomes personal property again
Quiz :trade fixtures - √Answer :term used for fixtures in commercial
transactions. installed by a tenant to carry out a business and may be removed
prior to the termination of the lease. If they are not removed they become real
property and pass to the landlord
Quiz :emblements - √Answer :crops that are cultivated annually. Considered
the personal property of the farmer who cultivated them. Ownership can be
transferred with a bill or sale, or farmer may make arrangements to return to
the property and harvest them one time.
Quiz :physical characteristics of real property - √Answer :non homogeneity-
no two exactly alike; immobility- cannot be moves; indestructibility-will always
be there
Quiz :economic characteristics of real property - √Answer :scarcity-naturally
desirable; modification-change or improve; fixity-not liquid assets; situs-
prestige location.
Quiz :nonhomogeneity - √Answer :one of three physical characteristics of
land; no two pieces are exactly alike
Quiz :immobility - √Answer :one of three physical characteristics of land; land
cannot be moved
Quiz :indestructibility - √Answer :one of three physical characteristics of land;
land is durable and will always be there
Quiz :scarcity - √Answer :one of four economic characteristics of land; land is
in short supply where demand is great (geographic considerations)
Quiz :modification - √Answer :one of four economic characteristics of land;
land use and value are greatly influenced by improvements made by man to
land and to surrounding parcels of land
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller HELLENAH. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $9.49. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
75632 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now