TN Real Estate Exam Practice Questions Property Ownership (Affiliate Broker - 7 Items; Broker 6 Items)
TN Real Estate Exam Practice Questions Property Ownership (Affiliate Broker - 7 Items; Broker 6 Items) REAL PROPERTY Interests, benefits, and rights that are automatically included in the ownership of real estate. (Real Property) Refer to both the physical property and the rights of ownership, while other states still make the distinction. PERSONAL PROPERTY Personalty. All the property that can be owned and that does not fit the definition of real property. Personal property is movable. Also known as Chattles, and include such tangibles as chairs, tables, clothing, money, bonds, bank accounts. FIXTURES Personal property that has been so attached to land or a building that, by law, it becomes part of the real property. Example: heating systems, elevators, radiators, kitchen cabinets, light fixtures, plumbing. Almost any item that has been added as a permanent part of a building is considered a fixture.
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- June 27, 2023
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tn real estate exam practice questions property ow
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