Exam Prep - National Section I - Trebs 2021(100% Correct)
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Course
Trebs 2021
Institution
Trebs 2021
N1. Personal property which has been converted to real property by method of attachment is:
A. A fixture
B. A trade fixture
C. Emblements
D. None of the above - ANSWERSA. A fixture. A trade fixture is installed by a tenant and is removable by the tenant before the lease term expires. Emblements...
Exam Prep - National Section I - Trebs
2021(100% Correct)
N1. Personal property which has been converted to real property by method of attachment is:
A. A fixture
B. A trade fixture
C. Emblements
D. None of the above - ANSWERSA. A fixture. A trade fixture is installed by a tenant and is removable by
the tenant before the lease term expires. Emblements are annual crops that have been planted for
harvest.
N1. Which of the following is always considered to be personal property?
A. A lease
B. A freehold
C. A fixture
D. A city lot - ANSWERSA. A lease. This is a trick question. It is used here to prepare you for these types
of questions that may be on the state exam. Notice the use of the word "always." A lease is "always" a
type of personal property, but a fixture is SOMETIMES personal (like the just purchased ceiling fan) and
SOMETIMES real property (the fan after it is installed; once attached; it becomes real property). Can the
ceiling fan become personal property again? Sure. Just take it down. Freehold refers to ownership and a
city lot is real estate.
N1. Cars, boats, furniture, books, and clothing are:
A. Liabilities
B. Sold with a deed
C. Real estate
D. Chattel - ANSWERSD. Chattel. Chattel means personal property that is moveable.
N1. An example of chattel is:
A. The house on the property
, B. Unimproved land
C. An oriental rug
D. A detached garage - ANSWERSC. An oriental rug. Another term for chattel is personal property.
N1. An item that is attached to and remains with the property is called:
A. A fixture
B. An improvement
C. Permanently installed
D. All of the above - ANSWERSD. All of the above. Any item that is permanently installed or attached to
the property is called a fixture or improvement.
N1. Which of the following are NOT classified as real property?
A. Fixtures
B. Emblements
C. Shrubs planted in the ground
D. Air rights - ANSWERSB. Emblements. Emblements are annual crops and are personal property.
Fixtures, shrubs, and air rights are real estate.
N1. Which one of the following instruments does NOT transfer an interest in real estate?
A. Option
B. Lease
C. Bill of sale
D. Agreement of sale - ANSWERSC. Bill of sale. A bill of sale is used with the sale of personal property.
N1. The determination of what constitutes a fixture primarily revolves around:
A. Method of annexation
B. Fitness or adaptation to a particular use of the premises
C. The intention of the parties
D. All of the above - ANSWERSD. All of the above. Answer choices A, B, and C are the three
considerations whether a fixture is a fixture or personal property.
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