Barney Fletcher Real Estate Study Guide
2023 Exam Questions And Answers
Improvements Additions to enhance property value, a relationship must exist between a
parcel and character of the improvement. An over, under, or misplaced improvement detracts
from the combined value of a lot and buildings. Ex.Grading, ponds, buildings, fences, etc.
Fixtures Once personal property but affixed to be real property. An owner sells his
property, he takes personal property but real property passes to the new owner. Items difficult to
classify are subject to dispute, to settle the courts determine intention. An object installed with
intention to permanently improve, then becomes a fixture and passes unless otherwise stated in
agreement.
Method of Attachment Ex.Freestanding fridge is personal property, but a built-in is a
fixture.
Constructive Annexation (Adaptability) Items made for building features are fixtures.
Ex.Keys
, Barney Fletcher Real Estate Study Guide
2023 Exam Questions And Answers
Agreement Written agreement between parties concerning certain items should be in a
provision of the listing agreement, the agreement of sale and to avoid arguments or court cases
later.
Fructus Naturales Permanent plantings that are real property.
Relationship of the Parties If a renter replaces a fixture with his own, it would remain the
personal property of the renter but upon leaving, he would need to reset the landlord's fixture.
Water Rights Rights that are appurtenant over water occurring naturally (ponds, lakes,
streams, oceans and seas) is real property. Landowners property that abuts or adjacent to water
have the right to use it, but don't own it. Ex. riparian, littoral, prior appropriation.
Navigable Waters Water for commerce or transportation. Federal government determines
water's use, by whom, and what conditions. They dredge, build dams, and take land through
eminent domain. The U.S. Army Corps of Engineers legally enforces this. Ex.Waterways and
marked channels.
, Barney Fletcher Real Estate Study Guide
2023 Exam Questions And Answers
Littoral Land Property borders on the shore of a lake, sea or ocean affected by tidal
currents. State laws establish landowner's right to use and enjoy water and the shoreline at high
tide mark.
Riparian Land Land bordering a moving watercourse like a stream or river. An owner
enjoys the right to use water for irrigation, swimming, boating and fishing if it doesn't harm land
upstream, downstream, alter the flow or contaminate. If the land borders a non-navigable
waterway, the landowner owns the land beneath the water to the middle of the waterway.
Prior Appropriation Doctrine of water allocation, first in time, first in right theory. A
Colorado court ruled that a non-riparian user who applied part of the water from a stream to a
beneficial use had superior rights over a later riparian landowner who tried to claim a right to use
all of the water. It separates water rights from land ownership, water rights can be sold or
mortgaged and retains its original appropriation date. Each water right has yearly quantity, and
water allotment is taken by date seniority. During droughts junior appropriation dates get reduced
or no water amounts.
Appurtenances Rights, privileges, and improvements belong to, pass with property
transfer but not physical part. Deed describes it granted, states,"together with all appurtenances."
Ex.Parking
, Barney Fletcher Real Estate Study Guide
2023 Exam Questions And Answers
Immobility Land can't move except in accretion or erosion. Surroundings affect value.
Indestructibility Land can't be destroyed, but value can by changing conditions.
Non-homogeneity / Heterogeneity Property and parcels of land differ in size, shape,
location, and appearance. Improvements to the land may be similar, but never the same.
Accretion Action of water causing land to build up on a parcel and subtract from another.
Erosion Land is eaten away by the action of water and weather.
Scarcity Supply of land is fixed and can't be increased causing there to be a limited
amount.
Area Preference (Situs) Economic quality of parcel and difference in situs can cause two
similar parcels to have different economic values causing locations to be preferable than others.
