CE Shop Section 8 Real Property
Ownership Exam Questions with Latest
Update
The north-south line that runs through the initial point of RGSS - Answer-True meridian,
or principal meridian
The east-west line that runs through the initial point of RGSS - Answer-Base line. This is
where all initial measurements originate
Range Lines - Answer-North south line that don't run through the initial point
Township lines - Answer-East-west lines that don't run through initial point
Land - Answer-The earth's surface, extending downward to the center of the earth and
upward infinitely into space.
Includes permanently attached natural objects, such as water & trees.
Physical & Economic characteristics
Real Estate - Answer-Everything in the definition of land, plus all things permanently
attached to it- naturally or artificially.
Housings, fences, bridges, etc.
Artificial Attachments - Answer-"Improvements".
Fencing, buildings, walkways, etc.
Real Property - Answer-Real estate, plus the interests, benefits, & rights automatically
included with real estate ownership.
Permanently attached
"Land tenements", "Hereditaments"
Personal Property - Answer-"Chattel"
Everything that is not real property.
Things that are not attached to property & can be removed. Furniture, tools, machinery,
etc.
,What are the interests, benefits, & rights of real property - Answer-Possession
Enjoyment
Exclusion
Control
Disposition
Possession - Answer-The right to occupy the property in privacy
Enjoyment - Answer-The right to use the property in any legal way the owner desires
Exclusion - Answer-The right to refuse others entry to, or use of, the property
Control - Answer-The right to determine how the property will be used by the owner, or
by others.
Similar to enjoyment, but extends to other parties
Disposition - Answer-The right to dispose of any interest in the property- by sale, lien,
easement, lease, etc.
Chattel - Answer-Personal property
Fixture - Answer-A piece of equipment or furniture which is fixed in position
Light fixture, door, etc.
Trade Fixtures - Answer-In commercial properties, these are items affixed to the
property, but for business use.
Display shelves, dentist chair, etc.
Annex - Answer-To add to, attach: to incorporate as an extra part
What are the 5 tests to determine whether an item is a fixture or personal property -
Answer-"MARIA"
Method of annexation
Adaptability of item to land's use
Relationship of the parties
Intention in placing item on land
Agreement of the parties
Method of Annexation - Answer-How permanent is the method of attachment? Can it be
removed without causing damage to the property? If not, it is real property
, Adaptability of Item to Land's Use - Answer-How the item is situated or adapted to real
property.
If a fireplace is part of an outdoor entertainment center, it can be considered real
property, because of how it has adapted to the environment.
Garage door openers, etc.
Economic Characteristics of Land - Answer-Scarcity, improvements, permanence of
investment, & location/area preference
Scarcity - Answer-Limited quantities of resources to meet unlimited wants
Improvements - Answer-Structures, such as buildings, sheds, barns, fences, roadways,
etc. placed on land.
Condition & types can affect property value, as well as surrounding property value
Permanence of Investment - Answer-Things that can't be easily reversed
Roads, sewer systems, electric installations, etc.
Situs - Answer-Location of land
Physical characteristics of Land - Answer-Immobility, Indestructability, Uniqueness
Parcel - Answer-Piece of land
Nonhomogeneity - Answer-A lack of uniformity. Uniqueness
Legal Description - Answer-A description of land that specifies the boundaries &
location of a piece of real property.
Appear on deeds & other legal documents
Survey - Answer-Sometimes required to verify, clarify, correct, or create a legal
description
Professional on-site measurement of the lot lines and dimensions of a property.
Includes the location of any improvements (such as a house) on the lot, any
encroachments that may exist, and any easements of public record.
Metes & Bounds System - Answer-Uses monuments, compass headings, & directions.
The language & numbers are derived from a survey
