Aceable Real Estate Exam Questions and Answers
Affixing - Answer- Ricky bought a ceiling fan. When he brought it home, it was personal property. Then, he permanently installed it into his ceiling. Now it has become real property. What is this process called?
Trade Fixtures - Answer- Personal property that is owned by and needed for a tenant's business. (For example, shelves that a store owner attaches to the wall when leasing a storefront in a strip mall.)
Annexation - Answer- One trait that separates fixtures from non-fixtures is the way the item is annexed, or attached, to the land.
Intention - Answer- Is inferred from the nature of the item and blends annexation and adaptation.
Fructus Naturales - Answer- Trees, persistent decorative plantings, (such as perennial landscape plants) and uncultivated plants and are usually considered to be real property
because of their permanence.
Emblements - Answer- Plants that are cultivated and harvested annually are considered
personal property.
Manufactured Homes - Answer- Texas requires mobile and manufactured homes to be classified as real property if they are affixed to a permanent foundation.
4 Ownership Rights with real property - Answer- Surface rights 🌲
Subsurface rights ⛏
Air rights 🌬
Water rights 🌊
Improvement - Answer- is any permanent human-made addition that is attached to the land.
What do owners in co-op buildings actually own? - Answer-
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller ALVINK2022. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for £5.59. You're not tied to anything after your purchase.