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Massachusetts Real Estate Exam; Questions and Answer 100% Solved

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Massachusetts Real Estate Exam; Questions and Answer 100% Solved Bundle of Rights An ownership concept describing all the legal rights that attach to the ownership of real property. ( posession, control, enjoyment, exclusion, disposition) Personal Property Chattel; movable/ portable; every...

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  • August 26, 2024
  • 49
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

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  • massachusetts real estate exam
  • questions and answer 100 solved

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  • MA Real Estate
  • MA Real Estate

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Massachusetts Real Estate Exam; Questions
and Answer 100% Solved
Bundle of Rights ✔✔An ownership concept describing all the legal rights that

attach to the


ownership of real property. ( posession, control, enjoyment, exclusion,

disposition)


Personal Property ✔✔Chattel; movable/ portable; everything that "falls out" of

a house that is


turned upside down


Riparian Rights ✔✔"R" ivers; rights along flowing waters such as rivers and

streams; navigable


( to waters edge) non-navigable ( to middle)


Literal Rights ✔✔"L" ake ; ownership rights along lakes and oceans; mA Law

intertidal


zone...all people have the right to fish, navigate (walk), and faul(birdwatch

through intertidal


zone

, Massachusetts Real Estate Exam; Questions
and Answer 100% Solved
Real Estate ✔✔Anything man or nature has put on earth; includes bundle of

legal rights, air,


water, and mineral rights; edge of property to center of earth and up to infinity

(air rights)


anything attached or put into the ground ( not on blocks)


Three Legal Descriptions Used in America ✔✔Metes and Bounds, Rectangular

Survey,


Subdivision Lot and Block


Metes and Bounds ✔✔A system of land surveying that used natural features t

mark irregular


parcels of land; Used in MA; oldest method used; always uses a POB (point of

beginning); uses


distances and compass directions to describe using N,S!E!W


Rectangular Survey ✔✔Uses ranges, sections, and townships to describe,

everything is

, Massachusetts Real Estate Exam; Questions
and Answer 100% Solved
rectangular shapes, FL not MA


Subdivision Lot and Block ✔✔AKA: Subdivision Plan; uses subdivision Lot # and

street name


to describe; used in ALL states


Personal Property ✔✔Chattels; movable ( furniture, lawn mower, fire wood,

deck furniture,


cows)


Fixtures ✔✔An item that was personal property that is now affixed to the real

Estate and has


become permanent; ex. Wall/wall carpet; a hutch noted to wall; a new light by

the front door


Severance ✔✔Converting real property to personal property (ex. Cutting down a

tree severing it


from the land)

, Massachusetts Real Estate Exam; Questions
and Answer 100% Solved
Accession ✔✔Trade fixtures not removed by the end of the lease become the

landlords by


accession


Trade Fixtures ✔✔Considered personal property; can be removed before the

lease ends; must

fish holes in wall and take signs


Emblements (fractus industriales) ✔✔


Governmental Powers (PETE) ✔✔Police Power, Eminent Domain, Taxation,

Escheat


Police Power ✔✔Governments right to regulate property use ( building codes,

property laws,


zoning, town bylaws)


Eminent Domain ✔✔Governments right to seize property; must be for public

use and the owner


paid a fair price

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