Real Estate Exam Prep (Champions; Texas) Questions With Complete Solutions

appurtenance correct answer: term used to describe rights, privileges or improvements that belong to and pass with the land improvements correct answer: man's additions to the land such as building and landscaping personal property correct answer: also called chattel or personalty; a right or interest in smiting of a temporary or movable nature and includes anything not classed as real property. Real property becomes personal property through severance. bill of sale correct answer: ownership of chattel or personalty is transferred via this, also called a non-realty item addendum fixture correct answer: item that was personal property but has been attached in such a way that it has become real property such at tv brackets installed correct answer: often indicates a permanent attachment annexation correct answer: the process of attaching an item of personal property to real estate such that it becomes a fixture severance correct answer: the process of real property becoming personal. Fixture is uninstalled and becomes personal property again trade fixtures correct answer: term used for fixtures in commercial transactions. installed by a tenant to carry out a business and may be removed prior to the termination of the lease. If they are not removed they become real property and pass to the landlord emblements correct answer: crops that are cultivated annually.