Barney Fletcher Real Estate Exam 2024 Updated Questions with Verified 100% Correct Answers Latest Edition
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Barney Fletcher Real Estate Exam 2024 Updated Questions with Verified 100% Correct Answers Latest Edition
Barney Fletcher Real Estate Exam:
2024 Updated Questions with Verified
100% Correct Answers | Latest
Edition
combining two or more contiguous parcels of real estate into a single parcel
...
Barney Fletcher Real Estate Exam:
2024 Updated Questions with Verified
100% Correct Answers | Latest
Edition
combining two or more contiguous parcels of real estate into a single parcel
under one ownership - ✔✔Assemblage
an increase in value resulting from assemblage - ✔✔plottage
personal property that is permanently attached to real property and goes with the
property when its sold - ✔✔fixture
if object was fixed or installed with the intention of improving the home - ✔✔what
makes something a fixture
when new fixtures are attached ex. heat/air, roof - ✔✔appurtenances
associate broker - ✔✔have brokers license but are working for another broker
in charge of and responsible for all real estate operations conducted by a real
estate brokerage firm - ✔✔principal/employing broker
government / rectangular survey - ✔✔which type of land description are the
properties described as they relate to meridians
any change of ownership - transferring ownership rights or interests in real
property from one person to another - ✔✔alienation of title
right of ownership of a parcel of real property held by an owner - ✔✔legal title
interest in a piece of real estate held by a buyer held under a contract to obtain
absolute ownership of the property at a future date - ✔✔equitable title
,lacks the usual rights and privileges associated with ownership - ✔✔bare legal
title
information has been made available to the public - ✔✔constructive notice
when factors exist that make someone inquire further
ex. dirt road running across you would inquire whether there is an easement in
place - ✔✔inquiry notice
a title free from reasonable doubt as to who the owner is - ✔✔marketable title
detailed report of the title search - ✔✔abstract of title
an owner petitions the state court to register his property
transfer of land - ✔✔torrens system
individuals are able to own land - ✔✔allodial system
right of govs to assume property for necessary public use - ✔✔eminent domain
power the gov has when someone dies intestate and leaves no known heirs -
✔✔escheat
police power, eminent domain, taxation, escheat - ✔✔PETE - powers of gov
over title
unauthorized infringement on a property owners rights as a result of physical
intrusion - ✔✔encroachment
highest and most complete form of ownership - ✔✔freehold estate
possession of freehold estate - ✔✔seisin
a fee simple estate that has certain limitations / qualifications
- owner holds fee simple title - ✔✔qualified fee estate
capable of being voided/defeated - ✔✔defeasible
, fee simple estate that is conveyed to a person for the duration of their life -
✔✔life estate
future interest in real estate created at same time and by same instrument as
other state - ✔✔remainder estate
any state created by the law/ gov - ✔✔statutory estate
for years, year to year, at will, sufferance - ✔✔Non-freehold estates
definite beginning and definite end - ✔✔for years
indefinite number of time periods
ex. month to month or week to week rental - ✔✔year to year
when a tenant in lawful possession with no definite time specified as to when he
may vacate - ✔✔at will
when a tenant occupies real estate after his lawful rights have run out
- goes until tenant vacates or landlord takes action
- termination doesn't require notice - ✔✔sufferance
stops a person from acting against another if they dont do it in a set amount of
time - ✔✔laches
property, interest, time, title - ✔✔PITT - four unities
for married couples - only between husband and wife - ✔✔tenancy by the
entireties
most common form of ownership
can have unequal ownership interests
can be willed - ✔✔tenancy in common
all partners have unlimited liability
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