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Aceable Real Estate Exam Questions and Answers 2024- Graded A
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Aceable Real Estate Exam Questions and Answers
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Aceable Real Estate Exam Questions and AnswersAffixing - Answer- Ricky bought a ceiling fan. When he brought it home, it was personal property. Then, he permanently installed it into his ceiling. Now it has become real property. What is this process called?
Trade Fixtures - Answer- Personal property that is owned by and needed for a tenant's business. (For example, shelves that a store owner attaches to the wall when leasing a storefront in a strip mall.)
Annexation - Answer- One trait that separates fixtures from non-fixtures is the way the item is annexed, or attached, to the land.
Intention - Answer- Is inferred from the nature of the item and blends annexation and adaptation.
Fructus Naturales - Answer- Trees, persistent decorative plantings, (such as perennial landscape plants) and uncultivated plants and are usually considered to be real property
because of their permanence.
Emblements - Answer- Plants that are cultivated and harvested annually are considered
personal property.
Manufactured Homes - Answer- Texas requires mobile and manufactured homes to be classified as real property if they are affixed to a permanent foundation.
4 Ownership Rights with real property - Answer- Surface rights 🌲
Subsurface rights ⛏
Air rights 🌬
Water rights 🌊
Improvement - Answer- is any permanent human-made addition that is attached to the land.
What do owners in co-op buildings actually own? - Answer-
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