Real Estate Exam Prep (Champions; Texas) Questions and Answers 2024

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