Exam (elaborations)
CT Real Estate exam General: Property ownership well answered
- Course
- Institution
CT Real Estate exam General: Property ownership well answered
[Show more]
Content preview
CT Real Estate exam General: Propertyownership
Survey - correct answer ✔✔location and dimension of property
Real Property - correct answer ✔✔The house and land
Personal Property - correct answer ✔✔everything but the house and land
Improvement - correct answer ✔✔Addition to the property or land
Vertical Land description - correct answer ✔✔Defining the Air rights
Fixture - correct answer ✔✔once-moveable items attached to real property
Trade fixture - correct answer ✔✔a fixture that is not attached to real property.
Used in Commercial settings. EX: freezer at restaurent.
Annexation - correct answer ✔✔Personal Property becoming Real Property
Severance - correct answer ✔✔Real Property becoming Personal Property
The legal tests for a fixture - correct answer ✔✔- Is it custom made for that house?
- Method of attachment(degree of permanence)
- Intention of person who put it there
- understanding between tenant and owner
, Appurtenances - correct answer ✔✔Attachment part of land, ex: A/C or garden
These appurtenances "run with the land"
Emblements - correct answer ✔✔Crops
Tangible Property - correct answer ✔✔Touchable Property, ex: house
Intangible Property - correct answer ✔✔Untouchable Property, ex: stock
How to remember: intan = untouch
Physical characteristics of land - correct answer ✔✔immobility, permanence/indestructibility, and
uniqueness
Economic Characteristics of land.
What makes a particular property valuable? - correct answer ✔✔- scarcity (unique)
- improvements
- permanence of investment
- area preference (location)
Monument - correct answer ✔✔point of reference
Metes and bounds - correct answer ✔✔system of property description
How large is a township? - correct answer ✔✔6x6 miles
How large is a section? - correct answer ✔✔1x1 mile
How many townships are in a quadrant? - correct answer ✔✔4
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 or Stuvia-credit 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 Sakayobako30. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $12.99. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
53022 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now