CA Real Estate Salesperson Exam; Questions &
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Land ✔✔The physical property and any natural objects on it - like trees and
bodies of water,
often referred to as a "lot', "site", or "parcel".
Real estate ✔✔generally refers to land with permanent manmade
improvements.
Real property ✔✔refers not only to the land and its improvements, but also the
bundle of rights,
powers, and privileges ("bundle of rights") that are legally connected to
ownership of that land.
Transferred by deed.
Tangible rights ✔✔based on the physical aspects of a property, such as claims to:
land,
buildings, garages, barn/sheds or other improvements, forests, farmland,
vineyards, trees, plant
life, floral gardens (with some minor exceptions), fixtures (such as fences,
plumbing, etc.).
,CA Real Estate Salesperson Exam; Questions &
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Intangible rights ✔✔associated with areas above and below the land surface,
access and
privileges such as: air rights, water rights, subsurface rights (mineral rights),
easements, licenses
profits, leases, mortgages.
Personal property ✔✔refers to property those tangible and moveable, such as
furniture and
swing sets. Personal property does not include rights to the land and it is
transferred by "Bill of
Sale." Personal property can become real property when it becomes a
permanent fixture of the
land.
Fixtures ✔✔are items that have been permanently attached to real property.
Can be pieces of
personal property that have been "physically or constructively annexed" to a
structure. Tests of a
,CA Real Estate Salesperson Exam; Questions &
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fixture: M-A-R-I-A - Method of attachment, adaptability, Relationship of the
parties, Intent,
Agreement between the parties.
Land characteristics ✔✔There are two main characteristics to describe land and
land function;
physical characteristics and economic characteristics.
Physical land characteristcs ✔✔Immobility - land cannot be moved in its
entirety;
Indestructibility - Although land can be damaged by storms or disasters,
ultimately, it cannot be
destroyed because it continues to change, adjust and develop over time. Non-
homogeneity - no
two pieces of land are identical.
Economic characteristics of land ✔✔Scarcity - In some areas, land is considered
a rarity, and
, CA Real Estate Salesperson Exam; Questions &
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ownership is even more unlikely. Permanence - Also known as "fixity,"
permanence refers to the
lasting potential of land. Situs - Concept that some locations are more and less
valuable.
Improvements - Structures and landscaping add value to land.
Metes and bounds ✔✔A method of describing real property that uses
geography and land
features with direction and distances to define and describe the boundaries of
the land.
Rectangular survey system ✔✔Traditional method of surveying property and it
measures factors
such as precise length of line run, natural materials (flora/fauna), and surface
and land soil.
Government or US public land system ✔✔Most commonly used method to
survey and spatially
