ASREB ch 1 Exam 2025 Questions and Answers

ASREB ch 1 Exam 2025 Questions and
Answers


Property rights that go with ownership of real property are referred to as the... - --

CORRECT ANSWER--bundle of rights

Surface of the earth, below to the center, with all natural things is... - --CORRECT

ANSWER--land

Personal property is conveyed with a document called a... - --CORRECT

ANSWER--bill of sale

Naturally growing plants are considered............. property - --CORRECT

ANSWER--real property

Emblements are considered................property. - --CORRECT ANSWER--personal

property

An item which was once personal property but is now real property is a........ - --

CORRECT ANSWER--fixtures

Ownership of trade fixtures depend on.............. - --CORRECT ANSWER--when it

is removed/expiration of lease




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, -used in commercial

.......... is not a factor in determining if an item is a fixture. - --CORRECT

ANSWER--cost

People's preference for a certain area is called........... - --CORRECT ANSWER--

situs

The document used to transfer real property is a............ - --CORRECT ANSWER-

-deed

What are the five tests of a fixture?

M......

A.....

R......

I.......

A....... - --CORRECT ANSWER--method of attachment, agreement, relationship,

intent, adaptability

Appurtenances - --CORRECT ANSWER--runs with the land

The due date for property taxes for the first half of the year is... - --CORRECT

ANSWER--October 1st




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