Texas Real Estate State Exam Study Guide with Complete Solutions
8 views 0 purchase
Course
Texas Real estate
Institution
Texas Real Estate
Texas Real Estate State Exam Study
Guide with Complete Solutions
Real Property - Answer️️ -land, Improvements attached to the land, and the rights to
use them
Personal Property - Answer️️ -right or interest in things of a temporary or movable
nature chattel personalty. Ownership transf...
indestructibility - Answer✔️✔️-durability - it will always be there
Land 4 economic characteristics - Answer✔️✔️-scarcity, modification, fixity, situs
scarcity - Answer✔️✔️-short supply where demand is great example lot in Manhattan v. a
lot in upstate NY
modification - Answer✔️✔️-land use and value are greatly influenced by improvements
made by man to land and to surrounding parcels of land
fixity - Answer✔️✔️-land and buildings and other improvements to land are consideration
fixed or permanent investments- they are not liquid assets
Situs - Answer✔️✔️-location preference location,location,location
Metes and Bounds - Answer✔️✔️-legal description of land that always has a point of
beginning that is also the end. The oldest used in 13 original colonies
Lot,Block, and Subdivision - Answer✔️✔️-recorded map or plat, it is the most common
description in residential listing agreements
Monuments - Answer✔️✔️-permanent surveyors markers often starting point for metes
and bounds example Iron pipe, oak tree
Rectangular/ Government Survey - Answer✔️✔️-takes into consideration base lines,
meridians, townships and sections.Townships and Sections are located in Ranges.
Example S7T3R2 means Section 7 Townships 3 Range 2
Township - Answer✔️✔️-36 Sections
Section - Answer✔️✔️-640 Acres 1 square mile
Acre - Answer✔️✔️-43,560 square feet
Page | 2
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 SophiaBennett. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $9.99. You're not tied to anything after your purchase.
