BARNEY FLETCHER REAL ESTATE COMPLETE
COURSE REVIEW GUIDE
◉ plottage.
Answer: an increase in value resulting from assemblage
◉ fixture.
Answer: personal property that is permanently attached to real
property and goes with the property when its sold
◉ what makes something a fixture.
Answer: if object was fixed or installed with the intention of
improving the home
◉ appurtenances.
Answer: when new fixtures are attached ex. heat/air, roof
◉ have brokers license but are working for another broker.
Answer: associate broker
◉ principal/employing broker.
,Answer: in charge of and responsible for all real estate operations
conducted by a real estate brokerage firm
◉ which type of land description are the properties described as
they relate to meridians.
Answer: government / rectangular survey
◉ alienation of title.
Answer: any change of ownership - transferring ownership rights or
interests in real property from one person to another
◉ legal title.
Answer: right of ownership of a parcel of real property held by an
owner
◉ equitable title.
Answer: 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
◉ bare legal title.
Answer: lacks the usual rights and privileges associated with
ownership
,◉ constructive notice.
Answer: information has been made available to the public
◉ inquiry notice.
Answer: when factors exist that make someone inquire further
ex. dirt road running across you would inquire whether there is an
easement in place
◉ marketable title.
Answer: a title free from reasonable doubt as to who the owner is
◉ abstract of title.
Answer: detailed report of the title search
◉ torrens system.
Answer: an owner petitions the state court to register his property
transfer of land
◉ allodial system.
Answer: individuals are able to own land
◉ eminent domain.
, Answer: right of govs to assume property for necessary public use
◉ escheat.
Answer: power the gov has when someone dies intestate and leaves
no known heirs
◉ PETE - powers of gov over title.
Answer: police power, eminent domain, taxation, escheat
◉ encroachment.
Answer: unauthorized infringement on a property owners rights as
a result of physical intrusion
◉ freehold estate.
Answer: highest and most complete form of ownership
◉ seisin.
Answer: possession of freehold estate
◉ qualified fee estate.
Answer: a fee simple estate that has certain limitations /
qualifications
COURSE REVIEW GUIDE
◉ plottage.
Answer: an increase in value resulting from assemblage
◉ fixture.
Answer: personal property that is permanently attached to real
property and goes with the property when its sold
◉ what makes something a fixture.
Answer: if object was fixed or installed with the intention of
improving the home
◉ appurtenances.
Answer: when new fixtures are attached ex. heat/air, roof
◉ have brokers license but are working for another broker.
Answer: associate broker
◉ principal/employing broker.
,Answer: in charge of and responsible for all real estate operations
conducted by a real estate brokerage firm
◉ which type of land description are the properties described as
they relate to meridians.
Answer: government / rectangular survey
◉ alienation of title.
Answer: any change of ownership - transferring ownership rights or
interests in real property from one person to another
◉ legal title.
Answer: right of ownership of a parcel of real property held by an
owner
◉ equitable title.
Answer: 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
◉ bare legal title.
Answer: lacks the usual rights and privileges associated with
ownership
,◉ constructive notice.
Answer: information has been made available to the public
◉ inquiry notice.
Answer: when factors exist that make someone inquire further
ex. dirt road running across you would inquire whether there is an
easement in place
◉ marketable title.
Answer: a title free from reasonable doubt as to who the owner is
◉ abstract of title.
Answer: detailed report of the title search
◉ torrens system.
Answer: an owner petitions the state court to register his property
transfer of land
◉ allodial system.
Answer: individuals are able to own land
◉ eminent domain.
, Answer: right of govs to assume property for necessary public use
◉ escheat.
Answer: power the gov has when someone dies intestate and leaves
no known heirs
◉ PETE - powers of gov over title.
Answer: police power, eminent domain, taxation, escheat
◉ encroachment.
Answer: unauthorized infringement on a property owners rights as
a result of physical intrusion
◉ freehold estate.
Answer: highest and most complete form of ownership
◉ seisin.
Answer: possession of freehold estate
◉ qualified fee estate.
Answer: a fee simple estate that has certain limitations /
qualifications
