Texas Real Estate State Exam Questions and Answers (Latest Update 2024)
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Course
Texas Real Estate State
Institution
Texas Real Estate State
Real Property - Correct Answer land, Improvements attached to the land, and the rights to use them
Personal Property - Correct Answer right or interest in things of a temporary or movable nature chattel personalty. Ownership transferred by a BILL OF SALE
Fixture - Correct Answer Personal P...
Texas Real Estate State Exam Questions
and Answers (Latest Update 2024)
Real Property - Correct Answer ✅ land, Improvements
attached to the land, and the rights to use them
Personal Property - Correct Answer ✅ right or interest in
things of a temporary or movable nature chattel personalty.
Ownership transferred by a BILL OF SALE
Fixture - Correct Answer ✅ Personal Property attached in
such a way to make it real property.
Annexation - Correct Answer ✅ Process of attaching
personal property to real property making it a fixture
Severed or Severance - Correct Answer ✅ Real property
being removed becoming personal property
Trade Fixtures - Correct Answer ✅ required to carry out a
business example would be commercial cooking equipment in
a restaurant
,Texas Real Estate State Exam Questions
and Answers (Latest Update 2024)
Accesion - Correct Answer ✅ Acquiring trade fixtures by
non removal prior to termination of lease
Nonhomogeneity - Correct Answer ✅ no to pieces are
exactly alike
immobility - Correct Answer ✅ land cannot be moved - a
person must go to the land
indestructibility - Correct Answer ✅ durability - it will
always be there
Land 4 economic characteristics - Correct Answer ✅
scarcity, modification, fixity, situs
scarcity - Correct Answer ✅ short supply where demand is
great example lot in Manhattan v. a lot in upstate NY
, Texas Real Estate State Exam Questions
and Answers (Latest Update 2024)
modification - Correct Answer ✅ land use and value are
greatly influenced by improvements made by man to land
and to surrounding parcels of land
fixity - Correct Answer ✅ land and buildings and other
improvements to land are consideration fixed or permanent
investments- they are not liquid assets
Situs - Correct Answer ✅ location preference
location,location,location
Metes and Bounds - Correct Answer ✅ legal description of
land that always has a point of beginning that is also the end.
The oldest used in 13 original colonies
Lot,Block, and Subdivision - Correct Answer ✅ recorded
map or plat, it is the most common description in residential
listing agreements
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