MA Real Estate Salesperson CORRECT QUESTIONS & SOLUTIONS 2024 LATEST UPDATE!!
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Course
Massachusetts Real Estate
Institution
Massachusetts Real Estate
Real Estate - ANSWER Aka real property or realty, is land and certain items attached to the land. The owner of real property has certain rights of ownership: ability transfer ownership, administer, loan against and lease. Most importantly an owner enjoys: possession, control, quiet enjoyment and di...
MA Real Estate Salesperson CORRECT
QUESTIONS & SOLUTIONS 2024 LATEST
UPDATE!!
Real Estate - ANSWER Aka real property or realty, is land and certain items attached to the land. The
owner of real property has certain rights of ownership: ability transfer ownership, administer, loan
against and lease. Most importantly an owner enjoys: possession, control, quiet enjoyment and
disposition. As a general rule: items permanently affixed to real estate (land or building) are real estate.
Personal Property - ANSWER Are moveable items like furniture, the bright line of difference is the nature
by which an item is attached to the land, with exceptions noted below. Aka personalty or chattel may
also be sold by a receipt or bill of sale. Real estate is sold by deed.
Crops or Emblements - ANSWER Can be removed by the seller and are considered personal property. The
harvest of the crops can also occur after the close of a real estate transaction.
Trade Equipment or Fixtures - ANSWER The classic example are the chairs, sinks and cabinets of a barber
shop.
Real Property Right: Surface Rights - ANSWER Right to build and plant crops. Also the right not to have an
abutting property destabilized the subject property.
Real Property Right: Air Rights - ANSWER To use the vertical airspace, subject to local, state and federal
regulation.
Real Property Right: Appurtenances Rights - ANSWER Rights of access (beach rights)
Real Property Right: Mineral Rights - ANSWER If minerals are vertically removed they become personal
property (Law of Capture). Mineral rights may be severed and transferred from ownership of the land
surface.
, Real Property Right: Riparian Rights - ANSWER Use of water by a lake, river or similar body of water for
recreation and agriculture. On navigable water the rights extend to the water's edge. On non-navigable
water rights extend to mid-point of water.
Real Property Right: Littoral Rights - ANSWER Similar but in this case the body of water would be very
large, like the Atlantic Ocean or the Great Lakes. Rights end at the mean high water mark.
Real Estate Measurements: Metes and Bounds - ANSWER Metes are measured in feet from a known
point, like a rock. Bounds is the compass direction. Measurement returns to the point of beginning aka
POB.
Real Estate Measurements: Lots and Blocks - ANSWER Recorded plat plan of a subdivision. Street grid
creates blocks, the divided by lots.
How Real Estate is Owned: Allodial System - ANSWER In the US land is owned by individuals in this
format. Pure allodial land is not subject to government authority of any kind, as such, no such pure
allodial land exists in the US.
How Real Estate is Owned: Feudal Land System - ANSWER In the United Kingdom, especially England and
Wales all land is held by the Crown. France disposed of this land system as a result of the French
Revolution in the 1790's.
How Real Estate is Owned: Interest in an Estate - ANSWER Defines the rights and limits of the ownership.
Freehold Estates - ANSWER Ownership of an estate.
Non-Freehold Estates - ANSWER Possession of an estate.
Freehold Estate: Fee, fee simple, fee simple absolute - ANSWER The type of estate interest that
theoretically is not subject to restrictions, hence it is the best form of ownership that can be granted
from the grantor to the grantee. The law assumes all estates are Fee unless otherwise noted.
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