Trade fixtures - Study guides, Class notes & Summaries

VA Real Estate Moseley Test Questions and Answers Already Passed 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 ...

Barney Fletcher Real Estate Exam 2024 (235 Questions and Answers) With Complete Solutions. Surface rights consist of only the right to control, occupy, and use the surface area of a parcel of real estate. T/F? - False Mineral rights are: A. Always considered to be personal property B. Always pass with the land C. Cannot be sold separately from the land D. Pass with the land, unless otherwise specified in the deed - D Which of the following is NOT an improvement of land? A. Building B. ...

Illinois Real Estate Final Exam| 125 Questions and Answers 100% CorrectIllinois Real Estate Final Exam| 125 Questions and Answers 100% CorrectIllinois Real Estate Final Exam| 125 Questions and Answers 100% CorrectIllinois Real Estate Final Exam| 125 Questions and Answers 100% Correct A couple renting a house installed new kitchen cabinets. What is the status of the cabinets when the lease ends? A. The couple may remove the cabinets at their expense since they are considered a trade fixture. B...

How does a broker prove they are not culpable if an agent makes a mistake? 1. Reasonable supervision was available to agent 2. Broker had nothing to do with the infraction 3. The broker did not ratify the infraction (Did not see it happen without telling them to stop) What are Trade fixtures and how can they be removed? Trade fixture - item of personal property attached to land or building leased by a tenant who uses the item in a trade or business - Can be removed before lease ends by ten...

Barney Fletcher Cram Notes Booklet deed - Answer-the instrument used to transfer real property Title - Answer-Ownership and the owner's rights Real Estate - Answer-Land + improvements (appertenances) Physical Characteristics of Land - Answer-1. Immovable 2. Indestructable 3. Non-Homogenous (unique) Economic Characteristics of Land - Answer-1) Situs 2) Improvements 3) Fixed Investment 4) Scarcity Personal Property - Answer-anything that is not real property; Chattel Severa...

A property owner has decided to do some landscaping work on his yard. He has planted a tree surrounded by some flowering shrubs. The tree and shrubs are an example of: a. encroachments b. improvements c. surface rights d. emblements correct answer: B A property owner has a waterfront lot on a stream. He has the right to use the water from the stream. What is this right called? a. riparian b. littoral c. appropriative d. appropriation correct answer: A A tenant is aware that h...

Barney Fletcher Cram Notes Booklet Exam deed - Answer-the instrument used to transfer real property Title - Answer-Ownership and the owner's rights Real Estate - Answer-Land + improvements (appertenances) Physical Characteristics of Land - Answer-1. Immovable 2. Indestructable 3. Non-Homogenous (unique) Economic Characteristics of Land - Answer-1) Situs 2) Improvements 3) Fixed Investment 4) Scarcity Personal Property - Answer-anything that is not real property; Chattel Seve...

Brokerage and Chartering Exam 1 Review Questions and Answers 100% CorrectBrokerage and Chartering Exam 1 Review Questions and Answers 100% CorrectBrokerage and Chartering Exam 1 Review Questions and Answers 100% CorrectBrokerage and Chartering Exam 1 Review Questions and Answers 100% Correct What makes a good broker? - ANSWER-~Knowing the current freight/hire rates in the trade. ~Aware of seasonal variations, recent fixtures, and current ship/cargo availability ~Know the desired business of h...

appurtenance - correct answer -term used to describe rights, privileges or improvements that belong to and pass with the land improvements - correct answer -man's additions to the land such as building and landscaping personal property - correct answer -also called chattel or personalty; a right or interest in smiting of a temporary or movable nature and includes anything not classed as real property. Real property becomes personal property through severance. bill of sale - correct ans...

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 bl...