2026 Expert Verifed Ace the
Test
Chattel - ANSWER ✔✔personal property
Real Property - ANSWER ✔✔physical property such as land and
buildings
Three Physical Characteristics of Land - ANSWER ✔✔Immobility,
Indestructibility, Uniqueness
immobility - ANSWER ✔✔land is physically immobile
Indestructibility - ANSWER ✔✔Land cannot be destroyed
,Non-homogeneity - ANSWER ✔✔Land: No two pieces are exactly
alike.
four economic characteristics of land - ANSWER ✔✔scarcity,
improvements, permanence, situs
scarcity - ANSWER ✔✔land is not limitless
Improvements to the land - ANSWER ✔✔any fixed structures such as
buildings, fences, walls, and decks that adds value
permanence - ANSWER ✔✔long-term stability associated with real
estate
situs - ANSWER ✔✔Refers to the economic location of real estate.
Metes and Bounds - ANSWER ✔✔a method of describing real estate
property that uses geography and land features with directions
Recorded Plat - ANSWER ✔✔A plat or map showing the location and
boundaries of individual parcels of land that is filed in the public records
in the county where the property is located .
monument - ANSWER ✔✔Surveyors use this when they are
describing large areas of land that may be cost prohibitive to survey
, rectangular survey system - ANSWER ✔✔A system used to divide
public domain lands in the United States in which land is divided into 6-
mile square townships and subdivided into sections, portions of sections,
or irregular lots. Also referred to as Public Land Survey System.
Government or US public land system (PLSS) - ANSWER ✔✔Most
commonly used method to survey and spatially identify land or property
parcels before designating ownership, whether for sale or transfer.
Townships - ANSWER ✔✔a survey method that refers to square units
of land that is six miles on each side
principal meridians - ANSWER ✔✔north-south lines separating
townships. method that uses principal meridian lines for survey control in
a large region that divides the township by north/south/east/west
Base lines run - ANSWER ✔✔east to west
meridian intersections run - ANSWER ✔✔vertically
Assesors Parcel Number (APN) - ANSWER ✔✔a number assigned to
a parcels of property by the area's jurisdiction for identification and
record keeping
Duel Agency - ANSWER ✔✔the agent represents the buyer and the
seller
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