ACEABLE AGENT NC REAL ESTATE EXAM
QUESTIONS WITH 100% ACCURATE
ANSWERS
Accession - Accurate answers The right to all that one's own property produces,
including that which is added, either naturally or by human action, to the property
already owned. It can also be defined as increasing, adding, or coming to possess a
right.
Accretion - Accurate answers The process that results in the gradual increase in
land area through deposits of soil or by natural forces.
Erosion - Accurate answers The gradual loss of land over time.
Reliction - Accurate answers The gradual increase in land area when water
gradually withdraws.
Avulsion - Accurate answers The sudden loss of land by flood or when a stream
or river changes course.
Alluvion - Accurate answers The soil that gets deposited in accretion
Difference between change in land due to accretion vs avulsion - Accurate answers
Accretion is gradual, avulsion is sudden - usually it is determined by courts.
Scarcity - Accurate answers The economic characteristic that informs the
economic principle of supply / demand ; the supply of land will never increase, but the
demand for land will increase as the population grows; ergo land is scarce
Situs - Accurate answers The economic significance of a property's location
Improvements - Accurate answers Any non-natural structure built on or affixed to
land. They affect the value of the land.
Permanence of investment - Accurate answers Since land is immobile, investors
must consider the long-term investment of purchasing land.
Public Land-use Controls - Accurate answers These are government-issued land-
use controls such as zoning ordinances, subdivision regulations,and building codes.
Private Land-use Controls - Accurate answers Controls that are put into place by
non-governmental entities, such as real estate developers - most commonly, these
come in the form of deed restrictions.
, Government Ownership of Land - Accurate answers The role of government to
own and maintain public land such as streets, highways, and parks.
Plottage - Accurate answers The increase in value by successful assemblage
Assemblage - Accurate answers The act of combining parcels
Real Property - Accurate answers The land from the surface to the center of the
earth and upward into space, all attachments, and the bundle of legal rights of
ownership.
Bundle of rights - Accurate answers The things you can do with the land you own
including:
1. The right of possession
2. The right of control
3. The right of enjoyment
4. The right of exclusion
5. The right of disposition
The right of possession - Accurate answers The right to occupy, live, breathe, and
do whatever on your property because you own it. This is also known as the right to
use.
The right of control - Accurate answers Gives the titleholder the right to use the
property in any way that is not illegal. They control what is built on it, who enters it, the
landscaping, etc. Anything that is not prohibited by the deed restriction and local law is
controlled by the owner.
The right of Enjoyment - Accurate answers The right to use your property in any
legal manner without interference from others claiming a superior title. This also covers
a lessee's right to possess a property without their landlord trying to use part of the
property the tenant is paying to lease.
The right of Exclusion - Accurate answers Gives the owner the right to restrict
access to their property. This means the property owner can tell trespassers (or
anyone) to get off their land.
The right of Disposition - Accurate answers The right to sell, lease, or will a
property to anyone you chose.Also called the right to transfer.
Appurtenances - Accurate answers Another type of right that comes with
property, and they are related to the physical use of the property including air rights,
water right and subsurface rights. They may be sold with the physical property or sold
separately.
QUESTIONS WITH 100% ACCURATE
ANSWERS
Accession - Accurate answers The right to all that one's own property produces,
including that which is added, either naturally or by human action, to the property
already owned. It can also be defined as increasing, adding, or coming to possess a
right.
Accretion - Accurate answers The process that results in the gradual increase in
land area through deposits of soil or by natural forces.
Erosion - Accurate answers The gradual loss of land over time.
Reliction - Accurate answers The gradual increase in land area when water
gradually withdraws.
Avulsion - Accurate answers The sudden loss of land by flood or when a stream
or river changes course.
Alluvion - Accurate answers The soil that gets deposited in accretion
Difference between change in land due to accretion vs avulsion - Accurate answers
Accretion is gradual, avulsion is sudden - usually it is determined by courts.
Scarcity - Accurate answers The economic characteristic that informs the
economic principle of supply / demand ; the supply of land will never increase, but the
demand for land will increase as the population grows; ergo land is scarce
Situs - Accurate answers The economic significance of a property's location
Improvements - Accurate answers Any non-natural structure built on or affixed to
land. They affect the value of the land.
Permanence of investment - Accurate answers Since land is immobile, investors
must consider the long-term investment of purchasing land.
Public Land-use Controls - Accurate answers These are government-issued land-
use controls such as zoning ordinances, subdivision regulations,and building codes.
Private Land-use Controls - Accurate answers Controls that are put into place by
non-governmental entities, such as real estate developers - most commonly, these
come in the form of deed restrictions.
, Government Ownership of Land - Accurate answers The role of government to
own and maintain public land such as streets, highways, and parks.
Plottage - Accurate answers The increase in value by successful assemblage
Assemblage - Accurate answers The act of combining parcels
Real Property - Accurate answers The land from the surface to the center of the
earth and upward into space, all attachments, and the bundle of legal rights of
ownership.
Bundle of rights - Accurate answers The things you can do with the land you own
including:
1. The right of possession
2. The right of control
3. The right of enjoyment
4. The right of exclusion
5. The right of disposition
The right of possession - Accurate answers The right to occupy, live, breathe, and
do whatever on your property because you own it. This is also known as the right to
use.
The right of control - Accurate answers Gives the titleholder the right to use the
property in any way that is not illegal. They control what is built on it, who enters it, the
landscaping, etc. Anything that is not prohibited by the deed restriction and local law is
controlled by the owner.
The right of Enjoyment - Accurate answers The right to use your property in any
legal manner without interference from others claiming a superior title. This also covers
a lessee's right to possess a property without their landlord trying to use part of the
property the tenant is paying to lease.
The right of Exclusion - Accurate answers Gives the owner the right to restrict
access to their property. This means the property owner can tell trespassers (or
anyone) to get off their land.
The right of Disposition - Accurate answers The right to sell, lease, or will a
property to anyone you chose.Also called the right to transfer.
Appurtenances - Accurate answers Another type of right that comes with
property, and they are related to the physical use of the property including air rights,
water right and subsurface rights. They may be sold with the physical property or sold
separately.
