Mississippi Real Estate Exam, PSI real estate test,
Mississippi PSI exam 2025, real estate license prep,
PSI practice questions, real estate exam answers
Real versus personal property - answer>>>..real
property: Real estate and the bundle of rights
Personal property: all property that is not land or
permanently attached to land, excepting trade fixtures
and emblements.
Physical characteristics of land -
answer>>>..immobility, indestructibility, and
heterogeneity.
Metes and Bounds - answer>>>..describes property
by landmarks, monuments, distances and angles. From
point of beginning (POB) and returns to POB
Rectangular Survey System - answer>>>..uses
longitude and latitude lines to identify ranges, tiers,
and townships. Also called government survey system.
,Meridian - answer>>>..North-south lines 6miles
apart
Parallels - answer>>>..East-west lines 6 miles apart
Ranges - answer>>>..North-south strips between
meridians
Tiers - answer>>>..East-west strips between
parallels
Townships - answer>>>..Intersection of a range and
a tier consisting of six-mile by six-mile squares of land
Sections of a Township - answer>>>..36 Sections per
township, each one-mile square. 1 section=640 acres
Lot and Block System - answer>>>..Subdivisions, lot
reference and block reference ex: Lot 7 Block B
Describing Elevation - answer>>>..Datum: standard
elevation reference point
Benchmark: officially surveyed and registered
elevation marker
Littoral Rights - answer>>>..properties abutting
bodies of water that are not moving, such as lakes and
,seas. do not own the water nor the land beneath the
water. Ownership extends to the high-water mark of
the body of water.
Riparian Rights - answer>>>..properties abutting
moving water such as streams and rivers. If a property
abuts a stream or river, the owner's riparian rights are
determined by whether the water is navigable or not
navigable. Navigable to water's edge
Voluntary Lien - answer>>>..Lien due to Borrowed
money or some other asset secured by a mortgage.
Involuntary Lien - answer>>>..Lien placed against a
property due to a legal process regardless of the
owner
General Lien - answer>>>..general lien: placed
against all real and personal property owned by a
particular debtor.
Specific Lien - answer>>>..Lien attached to a single
item of real or personal property, and does not affect
other property owned by the debtor.
Lien Priority - answer>>>..1. the lien's categorization
as superior or junior
, 2. the date of recordation of the lien
Superior Liens - answer>>>..1. Real estate tax liens
2. Special assessment liens
3. Federal estate tax liens
4. State inheritance tax liens
*Estate tax, assessment, inheritance tax
Junior Liens - answer>>>..Federal income tax liens
State corporate income tax liens
State intangible tax liens
Judgment liens
Mortgage liens
Vendor's liens
Mechanic's liens (priority by date work was
performed)
Easement - answer>>>..Interest in real property that
gives the holder the right to use portions of real
property in a defined way.
License - answer>>>..Personal right that a property
owner grants to another to use the property for a
specific purpose.
Encroachment - answer>>>..Physical intrusion of
one's real property into that of another
Mississippi PSI exam 2025, real estate license prep,
PSI practice questions, real estate exam answers
Real versus personal property - answer>>>..real
property: Real estate and the bundle of rights
Personal property: all property that is not land or
permanently attached to land, excepting trade fixtures
and emblements.
Physical characteristics of land -
answer>>>..immobility, indestructibility, and
heterogeneity.
Metes and Bounds - answer>>>..describes property
by landmarks, monuments, distances and angles. From
point of beginning (POB) and returns to POB
Rectangular Survey System - answer>>>..uses
longitude and latitude lines to identify ranges, tiers,
and townships. Also called government survey system.
,Meridian - answer>>>..North-south lines 6miles
apart
Parallels - answer>>>..East-west lines 6 miles apart
Ranges - answer>>>..North-south strips between
meridians
Tiers - answer>>>..East-west strips between
parallels
Townships - answer>>>..Intersection of a range and
a tier consisting of six-mile by six-mile squares of land
Sections of a Township - answer>>>..36 Sections per
township, each one-mile square. 1 section=640 acres
Lot and Block System - answer>>>..Subdivisions, lot
reference and block reference ex: Lot 7 Block B
Describing Elevation - answer>>>..Datum: standard
elevation reference point
Benchmark: officially surveyed and registered
elevation marker
Littoral Rights - answer>>>..properties abutting
bodies of water that are not moving, such as lakes and
,seas. do not own the water nor the land beneath the
water. Ownership extends to the high-water mark of
the body of water.
Riparian Rights - answer>>>..properties abutting
moving water such as streams and rivers. If a property
abuts a stream or river, the owner's riparian rights are
determined by whether the water is navigable or not
navigable. Navigable to water's edge
Voluntary Lien - answer>>>..Lien due to Borrowed
money or some other asset secured by a mortgage.
Involuntary Lien - answer>>>..Lien placed against a
property due to a legal process regardless of the
owner
General Lien - answer>>>..general lien: placed
against all real and personal property owned by a
particular debtor.
Specific Lien - answer>>>..Lien attached to a single
item of real or personal property, and does not affect
other property owned by the debtor.
Lien Priority - answer>>>..1. the lien's categorization
as superior or junior
, 2. the date of recordation of the lien
Superior Liens - answer>>>..1. Real estate tax liens
2. Special assessment liens
3. Federal estate tax liens
4. State inheritance tax liens
*Estate tax, assessment, inheritance tax
Junior Liens - answer>>>..Federal income tax liens
State corporate income tax liens
State intangible tax liens
Judgment liens
Mortgage liens
Vendor's liens
Mechanic's liens (priority by date work was
performed)
Easement - answer>>>..Interest in real property that
gives the holder the right to use portions of real
property in a defined way.
License - answer>>>..Personal right that a property
owner grants to another to use the property for a
specific purpose.
Encroachment - answer>>>..Physical intrusion of
one's real property into that of another
