Real property realty Study guides, Class notes & Summaries

N.C. Real estate pre-licensing ComplReal property - ANSWER Land & everything that is permanetly attached to the land & everything that is appurtenant to the land Personal property (personalty) - ANSWER All propery that doesn't fit the definition of real property. CHATTLES are moveable Land - ANSWER The earth's surface extending downwards to the center of the earth & upward to infinity Real estate (realty) - ANSWER Land at, above, or below the earth's surface, including all things per...

Additions to the land (ie houses) that are artificially attached (personal) Economic characteristic of land Chapter 1 Indestructibility -Answer-Land is non destroyable. It can be altered but its geographic coordinates remain the same. (physical characteristic of land) Chapter 1 Non-homogeneity -Answer-Land: No two pieces are exactly alike. Another word for it is uniqueness. This can either be a good or bad thing in regards to selling a property. (physical characteristic of land) Chapter...

WA BROKERS CRAM EXAM #2, QUESTIONS AND ANSWERS, 100% ACCURATE, GRADED. Which of the following loans would be subject to the Truth in Lending Act? A: A loan to a first time home buyer B: A lone to a homeowners association C: A loan to a residential subdivision D: A loan to buy a 20-unit apartment complex - -A Art sold his house, which was not encumbered with a mortgage. Closing expenses were $5,264, and he paid a commission of 7% of the selling price. He received a check at closing f...

Real Estate Vocabulary - Washington State – (All Chapters) with Complete Solutions Real Estate Vocabulary - Washington State – (All Chapters) with Complete Solutions Real Estate Vocabulary - Washington State – (All Chapters) with Complete Solutions Real Estate Vocabulary - Washington State – (All Chapters) with Complete SolutionsSyndicate - ANSWER-A group of individuals who come together and pool their resources to carry out an enterprise. Real property (realty) - ANSWER-Tang...

Real Estate Exam Prep (Champions; Texas)| Latest Update Graded A+ appurtenance term used to describe rights, privileges or improvements that belong to and pass with the land improvements man's additions to the land such as building and landscaping personal property also called chattel or personalty; a right or interest in smiting of a temporary or movable nature and includes anything not classed as real property. Real property becomes personal property through severance. bill...

This person hires an agent - Answer-The Principal The agent works on behalf of this person - Answer-the client (principal) This type of agency allows for the greatest range of authority - Answer-Universal This is provided to the agent when there is written documentation that the agency relationship exists. - Answer-Express authority This is the most limited of all the agency relationships - Answer-Special agency This type of agency is created when a 3rd party believes that an agent has aut...

Sean's CFP Exam Questions & Answers 2024/2025 List the four assets that don't fall into the category of "capital assets" or "ordinary income" assets: - ANSWERS1) Accounts Receivable 2) Copyrights and creative compositions in the hands of the author 3) Inventory 4) Depreciable Real Estate and Personal Property (1231) Memory clue: ACID List the two types of property that receive 1231 treatment: - ANSWERS1) Personal property (personalty) used in a trade or business (1245) and h...

NATIONAL REAL ESTATE EXAM PRACTICE TEST Answered 100% Correctly 2024 In applying the test of a fixture, which of the following would not be considered: a. The manner of attachment b. The value of the article c. The intent of the parties d. The relationship of the parties - answerb. The value of the article Real property can become personal property by the process known as: a. Attachment b. Severance c. Hypothecation d. Accretion - answerb. Severance Real property includes: a. Land ...

Champions School of Real Estate Exam Prep National Chapter 1 & 2 Appurtenance Rights, privileges or improvements that belong to and pass with land. Improvements Man made additions to the land such as buildings and landscaping. Also known as free standing Personal Property Right or interest in something that is temporary or movable by nature. Also known as chattel or personalty. Bill of Sale Ownership is transferred by... Non Realty Item Addendum When personal property i...

Arizona Real Estate Exam Questions With Verified And Updated Solutions. Gareth inherits a plot of land from Jessie. A year later, he sells half of the property to kim. A year later, she gives her half to Alex, who sells the mineral rights. This series of events best represents the legal property of: A. Control B. Disposition C. Possession D. Quiet enjoyment - answerDisposition Which is not an example of an improvement? A. the barn on the back of the property B. the fence running along...