VA Real Estate Moseley Test Questions and Answers with Complete Solutions Graded A
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What are the classes of Property? - Personal Property and Real Property
What is personal property? - Generally movable and unattached items.
What is a trade fixture? - Personal property used for a person's business. (even if it attached to the real estate)
What is Fructus Industriales? - C...
VA Real Estate Moseley Test Questions and Answers with Complete Solutions Graded A 2024 -2025 What are the classes of Property? - Personal Property and Real Property What is personal property? - Generally movable and unattached items. What is a trade fixture? - Personal property used for a person's business. (even if it attached to the real estate) What is Fructus Industriales? - Crops also known as chattle. What general categories does personal property fall under? - Intellectual, reputation, leases, partnership interests. Real Property - Everything within a specified block including mining rights, air rights, and general land usage rights. What are some common land improvements? - Houses, fences, fire pit What categories fall under real property? - Land, improvements, or real estate (the land plus the improvements.) What fall into fructus naturales? - Flowers, bushes, trees, and general landscaping. What is a fixture? - Things like fences and lights that were once movable personal property that were affixed to a property making them fixtures. What is the method of attachment? - How permanent and attached object is to the property. What is an adaptation? - When something is specifically made to work with a building and is now a fixture even if it isn't "attached" to a property What can an agreement do? - An agreement allows for a fixture to be removed. What is a relationship of parties? - When a renter makes improvements but takes the improvements with him replacing them with the originals when he leaves. Like upgrading a fan and then putting back the original when you leave. What is are rights in real property? - ownership rights in surface, air, and the dirt of a person's land. What is included in the bundle of rights? - Possess property, control property, enjoy property, exclude others, encumber property, and disposal of property by sale. What are water rights? - The right to use the water that is on your property. What can limit the use of real property? - Zoning and deed restrictions What is an economic indicator? - A measurable ecinomic factor (such as real estate) that shows how the economy is or will do. What is the social impact of home ownership? - The more people who own there homes the more valuable the area is because the homes are better maintained. Whereas an area with a lot of renters is not as nice because they don't feel the need to take care of the property. What is the impact of supply and demand on the housing market? - The less that are available the more they are worth as long as there is a demand. What does heterogeneous real estate mean? - Every piece of real estate is different. What are demographics? - A way of putting people into groups such as population size, population growth, family size, age, and income. How does unemployment and income factor into supply and demand? - Less employment, means less money, which means less buyers. How does cost and availability of labor factor into supply and demand? - The more available the materials and labor for home building, the more homes built, and the value of the house lowers. How do governmental policies influence supply and demand. - The more allowances the government makes the easier and more affordable the housing becomes and so the prices go down but more people are capable of buying. What are the physical characteristics of land? - Immobility, indestructibility, and uniqueness. What does it mean that land is immobile? - It can not be moved What does it mean that the land is indestructible? - You can move land but there is always more land beneath. What does it mean that land is unique? - No two plots will ever be the same.
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