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CE Shop National Exam Prep PROPERTY OWNERSHIP exams questions and answers.
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CE Shop National Exam Prep PROPERTY OWNERSHIP exams questions and answers. CE Shop National Exam Prep PROPERTY OWNERSHIP exams questions and answers. CE Shop National Exam Prep PROPERTY OWNERSHIP exams questions and answers.CE Shop National Exam Prep PROPERTY OWNERSHIP exams questions and answers.

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  • August 24, 2024
  • 30
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

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  • ce shop national exam prep property ownership exam

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  • CE Shop
  • CE Shop

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CE Shop National Exam Prep: PROPERTY
OWNERSHIP exams questions and answers




Define /*Land* /- /correct /Answers /✔✔ /-
The
/earth's
/surface
/extending
/downward
/to
/the /center /of /the /earth /and /upward /to /infinity, /including /permanently /attached /natural /objects.

Define /*Real /Estate* /- /correct /Answers /✔✔ /-
Land, /plus /all /things /*permanently* /attached /to /it /naturally /or /artificially

*Real /Property* /- /correct /Answers /✔✔ /-
Real /estate, /plus /the /interests, /benefits, /and /rights /included /with /real /estate /ownership

Define /*Improvements* /- /correct /Answers /✔✔ /-Artificial /attachments /to /land /that /include /things
/such /as /fencing, /buildings, /and /walkways.

*Personal /Property* /- /correct /Answers /✔✔ /-Everything /owned /*that /is /not /real /property*

*Personal /Property*



Five /Basic /tests /to /determine /if /an /item /is /real /or /personal /property /- /correct /Answers /✔✔ /-
*MARIA*



*M*
/Method
/of
/Annexation:
/Whether /the /item /is /attached /to /the /property /and /how /permanently /the /attachment /is

,*A*
/Adaptability
/for
/use:
/how
/an
/item
/is
/adapted
/to
/the
/real
/property.
/If
/removing /an /item /would /change /or /eliminate /the /use /of /the /property, /its /likely /real /property.




*R*
/Relationship
/of
/the
/parties:
/courts /tend /to /favor /a /tenant's /take /on /an /item /over /the /landlord's /and /a /buyer /over /a /seller




*I*
/Intention
/in /placing: /If /an /item /was /intended /to /be /temporary, /then /it's /less /likely /to /be /considered /real
/property. /




*A*
/Agreement
/of /the /parties: /if /the /parties /have /agreed /whether /an /item /will /stay /or /go, /this /is /the /simplest
/and /first /test.

Anything
/permanently
/attached

, /to /the /land /or /to /permanent /structures /on /the /land /is /called. /- /correct /Answers /✔✔ /-
*Fixtures*



*MARIA /test /helps /classify /these /items /as /fixtures /rather /than /personal /property*

*Fixtures*



They
/are
/part
/of
/_______________
/*Property*
/and
/are
/included
/(conveyed)
/with /a /sale /of /real /property /unless /the /parties /negotiate /differently. /- /correct /Answers /✔✔ /-
They
/are
/part
/of
/*Real
/Property*
/and
/are /included /(conveyed) /with /a /sale /of /real /property /unless /the /parties /negotiate /differently.




*If /
a
/fixture
/should
/be
/excluded /from /the /transfer* /the /sales /contract /should /clearly /identify /that /the /item /is /excluded
/from /the /transaction. /

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