Massachusetts Real Estate Exam; Questions
and Answer 100% Solved
Bundle of Rights ✔✔An ownership concept describing all the legal rights that
attach to the
ownership of real property. ( posession, control, enjoyment, exclusion,
disposition)
Personal Property ✔✔Chattel; movable/ portable; everything that "falls out" of
a house that is
turned upside down
Riparian Rights ✔✔"R" ivers; rights along flowing waters such as rivers and
streams; navigable
( to waters edge) non-navigable ( to middle)
Literal Rights ✔✔"L" ake ; ownership rights along lakes and oceans; mA Law
intertidal
zone...all people have the right to fish, navigate (walk), and faul(birdwatch
through intertidal
zone
, Massachusetts Real Estate Exam; Questions
and Answer 100% Solved
Real Estate ✔✔Anything man or nature has put on earth; includes bundle of
legal rights, air,
water, and mineral rights; edge of property to center of earth and up to infinity
(air rights)
anything attached or put into the ground ( not on blocks)
Three Legal Descriptions Used in America ✔✔Metes and Bounds, Rectangular
Survey,
Subdivision Lot and Block
Metes and Bounds ✔✔A system of land surveying that used natural features t
mark irregular
parcels of land; Used in MA; oldest method used; always uses a POB (point of
beginning); uses
distances and compass directions to describe using N,S!E!W
Rectangular Survey ✔✔Uses ranges, sections, and townships to describe,
everything is
, Massachusetts Real Estate Exam; Questions
and Answer 100% Solved
rectangular shapes, FL not MA
Subdivision Lot and Block ✔✔AKA: Subdivision Plan; uses subdivision Lot # and
street name
to describe; used in ALL states
Personal Property ✔✔Chattels; movable ( furniture, lawn mower, fire wood,
deck furniture,
cows)
Fixtures ✔✔An item that was personal property that is now affixed to the real
Estate and has
become permanent; ex. Wall/wall carpet; a hutch noted to wall; a new light by
the front door
Severance ✔✔Converting real property to personal property (ex. Cutting down a
tree severing it
from the land)
, Massachusetts Real Estate Exam; Questions
and Answer 100% Solved
Accession ✔✔Trade fixtures not removed by the end of the lease become the
landlords by
accession
Trade Fixtures ✔✔Considered personal property; can be removed before the
lease ends; must
fish holes in wall and take signs
Emblements (fractus industriales) ✔✔
Governmental Powers (PETE) ✔✔Police Power, Eminent Domain, Taxation,
Escheat
Police Power ✔✔Governments right to regulate property use ( building codes,
property laws,
zoning, town bylaws)
Eminent Domain ✔✔Governments right to seize property; must be for public
use and the owner
paid a fair price
and Answer 100% Solved
Bundle of Rights ✔✔An ownership concept describing all the legal rights that
attach to the
ownership of real property. ( posession, control, enjoyment, exclusion,
disposition)
Personal Property ✔✔Chattel; movable/ portable; everything that "falls out" of
a house that is
turned upside down
Riparian Rights ✔✔"R" ivers; rights along flowing waters such as rivers and
streams; navigable
( to waters edge) non-navigable ( to middle)
Literal Rights ✔✔"L" ake ; ownership rights along lakes and oceans; mA Law
intertidal
zone...all people have the right to fish, navigate (walk), and faul(birdwatch
through intertidal
zone
, Massachusetts Real Estate Exam; Questions
and Answer 100% Solved
Real Estate ✔✔Anything man or nature has put on earth; includes bundle of
legal rights, air,
water, and mineral rights; edge of property to center of earth and up to infinity
(air rights)
anything attached or put into the ground ( not on blocks)
Three Legal Descriptions Used in America ✔✔Metes and Bounds, Rectangular
Survey,
Subdivision Lot and Block
Metes and Bounds ✔✔A system of land surveying that used natural features t
mark irregular
parcels of land; Used in MA; oldest method used; always uses a POB (point of
beginning); uses
distances and compass directions to describe using N,S!E!W
Rectangular Survey ✔✔Uses ranges, sections, and townships to describe,
everything is
, Massachusetts Real Estate Exam; Questions
and Answer 100% Solved
rectangular shapes, FL not MA
Subdivision Lot and Block ✔✔AKA: Subdivision Plan; uses subdivision Lot # and
street name
to describe; used in ALL states
Personal Property ✔✔Chattels; movable ( furniture, lawn mower, fire wood,
deck furniture,
cows)
Fixtures ✔✔An item that was personal property that is now affixed to the real
Estate and has
become permanent; ex. Wall/wall carpet; a hutch noted to wall; a new light by
the front door
Severance ✔✔Converting real property to personal property (ex. Cutting down a
tree severing it
from the land)
, Massachusetts Real Estate Exam; Questions
and Answer 100% Solved
Accession ✔✔Trade fixtures not removed by the end of the lease become the
landlords by
accession
Trade Fixtures ✔✔Considered personal property; can be removed before the
lease ends; must
fish holes in wall and take signs
Emblements (fractus industriales) ✔✔
Governmental Powers (PETE) ✔✔Police Power, Eminent Domain, Taxation,
Escheat
Police Power ✔✔Governments right to regulate property use ( building codes,
property laws,
zoning, town bylaws)
Eminent Domain ✔✔Governments right to seize property; must be for public
use and the owner
paid a fair price
