Barney Fletcher Real Estate Exam Questions And Answers 100% Pass
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Barney Fletcher
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Barney Fletcher
Barney Fletcher Real Estate Exam Questions
And Answers 100% Pass
Assemblage - answercombining two or more contiguous parcels of real estate into a single
parcel under one ownership
plottage - answeran increase in value resulting from assemblage
fixture - answerpersonal property that is permane...
Barney Fletcher Real Estate Exam Questions
And Answers 100% Pass
Assemblage - answer✔combining two or more contiguous parcels of real estate into a single
parcel under one ownership
plottage - answer✔an increase in value resulting from assemblage
fixture - answer✔personal property that is permanently attached to real property and goes with
the property when its sold
what makes something a fixture - answer✔if object was fixed or installed with the intention of
improving the home
appurtenances - answer✔when new fixtures are attached ex. heat/air, roof
have brokers license but are working for another broker - answer✔associate broker
principal/employing broker - answer✔in charge of and responsible for all real estate operations
conducted by a real estate brokerage firm
which type of land description are the properties described as they relate to meridians -
answer✔government / rectangular survey
alienation of title - answer✔any change of ownership - transferring ownership rights or interests
in real property from one person to another
legal title - answer✔right of ownership of a parcel of real property held by an owner
equitable title - answer✔interest in a piece of real estate held by a buyer held under a contract to
obtain absolute ownership of the property at a future date
bare legal title - answer✔lacks the usual rights and privileges associated with ownership
constructive notice - answer✔information has been made available to the public
inquiry notice - answer✔when factors exist that make someone inquire further
ex. dirt road running across you would inquire whether there is an easement in place
marketable title - answer✔a title free from reasonable doubt as to who the owner is
abstract of title - answer✔detailed report of the title search
torrens system - answer✔an owner petitions the state court to register his property
transfer of land
allodial system - answer✔individuals are able to own land
eminent domain - answer✔right of govs to assume property for necessary public use
escheat - answer✔power the gov has when someone dies intestate and leaves no known heirs
PETE - powers of gov over title - answer✔police power, eminent domain, taxation, escheat
encroachment - answer✔unauthorized infringement on a property owners rights as a result of
physical intrusion
freehold estate - answer✔highest and most complete form of ownership
seisin - answer✔possession of freehold estate
qualified fee estate - answer✔a fee simple estate that has certain limitations / qualifications
- owner holds fee simple title
defeasible - answer✔capable of being voided/defeated
life estate - answer✔fee simple estate that is conveyed to a person for the duration of their life
remainder estate - answer✔future interest in real estate created at same time and by same
instrument as other state
statutory estate - answer✔any state created by the law/ gov
Non-freehold estates - answer✔for years, year to year, at will, sufferance
for years - answer✔definite beginning and definite end
year to year - answer✔indefinite number of time periods
ex. month to month or week to week rental
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