Aceable agent Pre-licensing test review Questions With Solutions 100% Correct

Aceable agent Pre-licensing test review
Questions With Solutions 100% Correct

Land - Can be described by its physical attributes and economic characteristics


- Can be altered by various forces of nature




Real estate ownership includes - Bundle of rights


- Or recognized inherit privileges that come with the land




recognized inherit privileges that come with the land include - Surface rights


- Subsurface rights

- Water rights

- Air rights




Appurtenances rights that can be sold individually and separately from land




Real estate Physical land, structures, and resources attached




Real property land plus bundle of rights

, Aceable agent Pre-licensing test review
Questions With Solutions 100% Correct


Estate Possesory interest in real property




Freehold estate Some degree of ownership


- the type of freehold estate indicates how they convey land




Leasehold estate - Land a tenant can use and occupy but doesn't own


- The grantor (landlord) has revisionary right to the estate




3 ways property is conveyed 1. Deed


2. Devise

3. Descent




3 ways properly can be held 1. Ownership in severalty (ONLY ONE OWNER)


2. Co-ownership

3. Trusts