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WASHINGTON REAL ESTATE FUNDAMENTALS EXAM 2024 ACTUAL EXAM COMPLETE 400 QUESTIONS WITH DETAILED VERIFIED ANSWERS (100% CORRECT ANSWERS) /ALREADY GRADED A+ $17.99   Add to cart
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WASHINGTON REAL ESTATE FUNDAMENTALS EXAM 2024 ACTUAL EXAM COMPLETE 400 QUESTIONS WITH DETAILED VERIFIED ANSWERS (100% CORRECT ANSWERS) /ALREADY GRADED A+

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WASHINGTON REAL ESTATE FUNDAMENTALS EXAM 2024 ACTUAL EXAM COMPLETE 400 QUESTIONS WITH DETAILED VERIFIED ANSWERS (100% CORRECT ANSWERS) /ALREADY GRADED A+

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  • November 8, 2024
  • 84
  • 2024/2025
  • Exam (elaborations)
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  • washington real estate fundamentals exam 2024 actu

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  • WASHINGTON REAL ESTATE FUNDAMENTALS
  • WASHINGTON REAL ESTATE FUNDAMENTALS

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WASHINGTON REAL ESTATE FUNDAMENTALS
EXAM 2024 ACTUAL EXAM COMPLETE 400
QUESTIONS WITH DETAILED VERIFIED
ANSWERS (100% CORRECT ANSWERS) /ALREADY
GRADED A+
Real Property - ANSWER Real property is land, anything attached or affixed
to the land, and anything incidental or appurtenant to the land.


Real property is also called realty or real estate.


Personal Property - ANSWER Personal property is everything that is not land
or permanently attached or appurtenant to land. It is usually movable.


Personal property is also called chattels.


Bundle of Rights - ANSWER An owner of real property has a bundle of rights,
including the right to possess, use, enjoy, encumber, will, sell, or do nothing at
all with the property.


Inverted Pyramid - ANSWER Within the boundaries of her property, a real
property owner's ownership rights apply to the surface of the earth.


Those rights also apply to everything in an imaginary inverted pyramid, with
its tip at the center of the earth, and its base in the upper regions of the sky.


appurtenances - ANSWER Rights-of-way, easements, and water rights are
classified as


Riparian water - ANSWER is flowing water, such as the water in a river,
stream, or creek.

,Littoral water - ANSWER is standing water, such as a pond or a lake. This
term also applies to tidal waters, such as Puget Sound or the ocean.


prior appropriation system - ANSWER The prior appropriation system has
largely replaced the riparian rights system in Washington.


Under the prior appropriation system, someone who wants to take water from
a water source must obtain a permit from the state, even if she owns land
beside the water source.


air rights - ANSWER A real property owner has the right to use the airspace
above the property.


Air rights are limited by federal aviation law, and may also be affected by
zoning and other restrictions.


Air rights may be sold separately from the surface property.


mineral rights - ANSWER Solid minerals are part of the real property until
they are extracted.


A landowner has the right to extract the solid minerals that lie within his
property's inverted pyramid.


Mineral rights may be sold separately from the land.


Rule of Capture - ANSWER Oil and gas rights are governed by the rule of
capture.


Under this rule, a landowner has the right to any oil or natural gas captured by
wells on her property.


Like other mineral rights, oil and gas rights may be sold separately from the
land.

,Support Rights - ANSWER A landowner has the right to lateral and subjacent
support, which is the natural support that his land receives from the land on
each side and the land underneath.


To establish _______________ water rights, one must apply to the state
government for a permit. - ANSWER appropriative.


The support received by a parcel of land from the property adjoining it is
called ___________ support - ANSWER Lateral


Property adjacent to a stream or river is called _______________ property. -
ANSWER riparian


Water beneath the surface of the earth is called _______________ water. -
ANSWER Ground


The support provided to the surface by the underlying earth is called
_______________ support. - ANSWER subjacent


Attachments - ANSWER Things attached or affixed to the land are called
attachments, and they are part of the real property unless otherwise agreed.


Attachments are classified as natural or man-made.


Man-made attachments are called fixtures.


Natural attachments - ANSWER Natural attachments are plants growing on
the land naturally, or planted there by people.


They are ordinarily part of the real property.


However, the crops produced by cultivated natural attachments that are to be
harvested are ordinarily personal property.

, Doctrine of Elements - ANSWER Under certain circumstances, the doctrine of
emblements gives a tenant farmer the right to harvest crops after the lease has
expired.


Fixtures - ANSWER Man-made items of personal property become realty if
they are attached to or otherwise closely connected to the land or
improvements.


Man-made items that have become realty are called fixtures.


Fixture Tests - ANSWER In the absence of a written agreement between the
buyer and seller, four tests are used in deciding whether a disputed item is a
fixture.


These are the method of attachment test, the adaptation test, the intention test,
and the relationship test.


An article that was once personal property but has been incorporated into real
estate. - ANSWER Fixture


Overrides the court tests used to distinguish real from personal property. -
ANSWER


Rule that permits tenant farmer to re-enter land to harvest crops if the lease
terminated before the crops were ready for harvest. - ANSWER Doctrine of
emblements


Legal Description - ANSWER A property's legal description enables the
location and boundaries of the property to be precisely identified.


The three main methods of legal description are metes and bounds,
government survey, and lot and block.

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