WRA Chapter 7 Questions with verified solutions | Already Passed

Accession The right of a property owner to become entitled to all the property produces and to all that is added to it, either naturally or artificially. For example, the owner of an office building would acquire the abandoned trade fixtures of a tenant as real property by accession. Bill of sale A legal document used to transfer ownership of personal property. Bundle of rights Real property ownership right including the right of quiet enjoyment, possession, disposal, exclusion, control, and the right to encumber Common elements All real property in a condominium development that is not described as a unit Condominium ownership Fee simple unit ownership of real property. Residents own their units plus a share of common elements