Exam (elaborations)
Barney Fletcher Real Estate Study Guide Questions and Answers (100% Pass)
- Course
- Institution
Barney Fletcher Real Estate Study Guide Questions and Answers (100% Pass)
[Show more]
Content preview
1|Page | © copyright 2024/2025 | Grade A+Barney Fletcher Real Estate Study
Guide Questions and Answers
(100% Pass)
Bundle of Rights
✓ Right to possess, control within legal limits, enjoy, use in any legal
manner, exclude others from entering, using, encumbering or disposing
of property by sale, will or other transfer.
Real Estate
✓ Physical land and permanent, man-made improvements on the land.
Ex. Buildings.
Real Property
✓ Rights of ownership that extends from the center of the Earth upwards
to the sky.
Surface Rights
✓ Right to control, occupy, and use surface area of a parcel,
improvements, and growing of crops. Crops are personal property, the
right to grow crops is real property.
Master01 | October, 2024/2025 | Latest update
, 1|Page | © copyright 2024/2025 | Grade A+
Air Rights
✓ Right to control, occupy, and use airspace above the parcel, not
unlimited. Laws prohibit owner from polluting air, and aircrafts can go
over land if they don't bother the owner's rights.
Mineral Rights (Subsurface)
✓ Right to explore, drill, or dig below the surface for minerals and water,
may be sold or leased and passed with transfer unless otherwise
specified in the deed.
Improvements
✓ Additions to enhance property value, a relationship must exist between
a parcel and character of the improvement. An over, under, or
misplaced improvement detracts from the combined value of a lot
and buildings. Ex.Grading, ponds, buildings, fences, etc.
Fixtures
Master01 | October, 2024/2025 | Latest update
, 1|Page | © copyright 2024/2025 | Grade A+
✓ Once personal property but affixed to be real property. An owner sells
his property, he takes personal property but real property passes to the
new owner. Items difficult to classify are subject to dispute, to settle the
courts determine intention. An object installed with intention to
permanently improve, then becomes a fixture and passes unless
otherwise stated in agreement.
Method of Attachment
✓ Ex.Freestanding fridge is personal property, but a built-in is a fixture.
Constructive Annexation (Adaptability)
✓ Items made for building features are fixtures. Ex.Keys
Agreement
✓ Written agreement between parties concerning certain items should
be in a provision of the listing agreement, the agreement of sale and to
avoid arguments or court cases later.
Fructus Naturales
✓ Permanent plantings that are real property.
Master01 | October, 2024/2025 | Latest update
, 1|Page | © copyright 2024/2025 | Grade A+
Relationship of the Parties
✓ If a renter replaces a fixture with his own, it would remain the personal
property of the renter but upon leaving, he would need to reset the
landlord's fixture.
Water Rights
✓ Rights that are appurtenant over water occurring naturally (ponds,
lakes, streams, oceans and seas) is real property. Landowners property
that abuts or adjacent to water have the right to use it, but don't own
it. Ex. riparian, littoral, prior appropriation.
Navigable Waters
✓ Water for commerce or transportation. Federal government
determines water's use, by whom, and what conditions. They dredge,
build dams, and take land through eminent domain. The U.S. Army
Corps of Engineers legally enforces this. Ex.Waterways and marked
channels.
Littoral Land
Master01 | October, 2024/2025 | Latest update
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller ExamArsenal. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $18.49. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
85169 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now