Champions Real Estate Comprehensive Resource To Help You Ace 2026-2027 Exams Includes
Frequently Tested Questions With ELABORATED 100% Correct COMPLETE SOLUTIONS
Guaranteed Pass First Attempt!! Current Update!!
Often used to describe rights, privileges or improvements
appurtenance
that belong and pass with the land
Man's additions to the land such as buildings and land-
improvements
scaping
Personal property is also called personalty and ? Chattel
What is ownership transferred with? Bill of Sale
Personal property that has been attached in a. way that
Fixture
has become real property
T/F A fixture is never freestanding True
Process of attaching personal property to become a fixture annexation
The process when real property becoming personal Severance
Fixtures installed by a tenant in order to carry out a busi-
ness and may be removed from leased property prior to Trade Fixtures
termination of the lease
If trade fixtures are not removed prior to the termination
They become real property and pass to the landlord
of the lease, what happens?
Crops cultivated annually Emblements
What are the 3 physical characteristics of land? nonhomogeneity, immobility, indestructibility
No two pieces of land are alike, each piece of land is
Nonhomogeneity
unique
Land cannot be moved - a person must go to the land immobility
Durability/land will will always be there indestructibility
What are the 4 economic characteristics? Scarcity, Modification, Fixity, Situs
A lot in Manhattan is more valuable than a lot in upstate
Scarcity
in New York due to?
, Champions Real Estate Comprehensive Resource To Help You Ace 2026-2027 Exams Includes
Frequently Tested Questions With ELABORATED 100% Correct COMPLETE SOLUTIONS
Guaranteed Pass First Attempt!! Current Update!!
In short supply where demand is great, usually based on
Scarcity
geographic considerations
Land use and value are greatly influenced by improve-
Modification
ments made by man?
Land and buildings and other improvements to land are
considered fixed or permanent investments - they are not Fixity
liquid assets
Location preference or location from an economic rather
Situs
than a geographic standpoint
T/F Situs can change over time as people change True
Created and determined by a surveyor Legal descriptions
Metes and bounds, lot/block/subdivision descriptions,
What are the legal methods of land description?
Rectangular Survey system
Power given to a municipality to regulate and control the
character and use of property for the health, safety and Police Power
general welfare of the public
What is the most common example of police power? Zoning
A change in zoning may result in what? Non-conforming use
Local laws to control land use, ex. R-1 means residential,
Zoning regulations
single family only
If your property violates zoning, what may you request? Variance
Area of land separating one land use from another, such
Butter zone
as residential from commercial
The space between the wetlands and construction is an
Butter zone
example of
Provides the government the right to establish building
Police Power
codes
, Champions Real Estate Comprehensive Resource To Help You Ace 2026-2027 Exams Includes
Frequently Tested Questions With ELABORATED 100% Correct COMPLETE SOLUTIONS
Guaranteed Pass First Attempt!! Current Update!!
Right of the government to take private property for public
Eminent Domain
use through the action of condemnation
What is the only time the government must compensate
Eminent Domain
property owners?
When an individual forces the government to buy his.her
Inverse Condemnation
property, this is called?
What are the highest priority lien on real property and
Property taxes
paid first at foreclosure?
Property taxes are taxes Ad Valorem taxes
What do unpaid taxes automatically create? An automatic lien on property
Property that reverts to the state when someone dies
leaving no will and no heirs or kindred, to ensure no land Escheat
remains unowned?
What can be used if property is abandoned? Escheat
What are the most common private controls of land use? CC&R's
CC&R's are commonly referred to as? Deed Restrictions or Deed Covenants
Limit on a property or a limit on a property's owners rights
Encumbrance
that may or may not also be a cloud on the title
A reservation, encroachment, and easement are all exam-
Encumbrances
ples of what?
Imposed by the grantor, withholds title to a part of the land
described in the deed, such as an easement or mineral Reservation
rights
When a structure or improvement overlaps or trespasses
Encroachment
onto another's property
How are encroachments discovered?
, Champions Real Estate Comprehensive Resource To Help You Ace 2026-2027 Exams Includes
Frequently Tested Questions With ELABORATED 100% Correct COMPLETE SOLUTIONS
Guaranteed Pass First Attempt!! Current Update!!
By physical inspection (actual notice)
A survey (constructive notice)
The determinations of enchroachments require a ? Survey
Allows limited use or employment of another's land. Is use
without possession and must be created in writing and Easement
recorded
How can easements be terminated? Merger, release, or abandonment
How can the government take an easement for itself, the
Condemnation
utilities or the railroads?
The estate that is landlocked without the easement Dominant Estate
If you have two parcels of land with a road across one
parcel, the owner who crosses over the other's land is Dominant
considered?
What estate benefits from the easement? Dominant Estate
What estate is encumbered by the easement? Servient Estate
Easement needed for entry/exit from the property. Goes
Easement Appurtenance
with the land and is owned by the landowner.
Easement belongs to a person or corporation Easement in Gross
A utility easement belonging to the utility company no
Easement in Gross
matter who owns the land is called a?
Permission to do a particular act upon the land or property
License
of another
Occurs when property is acquired from the rightful owner
Adverse Possession
through the Statute of Limitations. Must be hostile.
Recorded notice filed against a specific property, meaning
Lis Pendens
some form of lawsuit has been filed but not yet resolved
Frequently Tested Questions With ELABORATED 100% Correct COMPLETE SOLUTIONS
Guaranteed Pass First Attempt!! Current Update!!
Often used to describe rights, privileges or improvements
appurtenance
that belong and pass with the land
Man's additions to the land such as buildings and land-
improvements
scaping
Personal property is also called personalty and ? Chattel
What is ownership transferred with? Bill of Sale
Personal property that has been attached in a. way that
Fixture
has become real property
T/F A fixture is never freestanding True
Process of attaching personal property to become a fixture annexation
The process when real property becoming personal Severance
Fixtures installed by a tenant in order to carry out a busi-
ness and may be removed from leased property prior to Trade Fixtures
termination of the lease
If trade fixtures are not removed prior to the termination
They become real property and pass to the landlord
of the lease, what happens?
Crops cultivated annually Emblements
What are the 3 physical characteristics of land? nonhomogeneity, immobility, indestructibility
No two pieces of land are alike, each piece of land is
Nonhomogeneity
unique
Land cannot be moved - a person must go to the land immobility
Durability/land will will always be there indestructibility
What are the 4 economic characteristics? Scarcity, Modification, Fixity, Situs
A lot in Manhattan is more valuable than a lot in upstate
Scarcity
in New York due to?
, Champions Real Estate Comprehensive Resource To Help You Ace 2026-2027 Exams Includes
Frequently Tested Questions With ELABORATED 100% Correct COMPLETE SOLUTIONS
Guaranteed Pass First Attempt!! Current Update!!
In short supply where demand is great, usually based on
Scarcity
geographic considerations
Land use and value are greatly influenced by improve-
Modification
ments made by man?
Land and buildings and other improvements to land are
considered fixed or permanent investments - they are not Fixity
liquid assets
Location preference or location from an economic rather
Situs
than a geographic standpoint
T/F Situs can change over time as people change True
Created and determined by a surveyor Legal descriptions
Metes and bounds, lot/block/subdivision descriptions,
What are the legal methods of land description?
Rectangular Survey system
Power given to a municipality to regulate and control the
character and use of property for the health, safety and Police Power
general welfare of the public
What is the most common example of police power? Zoning
A change in zoning may result in what? Non-conforming use
Local laws to control land use, ex. R-1 means residential,
Zoning regulations
single family only
If your property violates zoning, what may you request? Variance
Area of land separating one land use from another, such
Butter zone
as residential from commercial
The space between the wetlands and construction is an
Butter zone
example of
Provides the government the right to establish building
Police Power
codes
, Champions Real Estate Comprehensive Resource To Help You Ace 2026-2027 Exams Includes
Frequently Tested Questions With ELABORATED 100% Correct COMPLETE SOLUTIONS
Guaranteed Pass First Attempt!! Current Update!!
Right of the government to take private property for public
Eminent Domain
use through the action of condemnation
What is the only time the government must compensate
Eminent Domain
property owners?
When an individual forces the government to buy his.her
Inverse Condemnation
property, this is called?
What are the highest priority lien on real property and
Property taxes
paid first at foreclosure?
Property taxes are taxes Ad Valorem taxes
What do unpaid taxes automatically create? An automatic lien on property
Property that reverts to the state when someone dies
leaving no will and no heirs or kindred, to ensure no land Escheat
remains unowned?
What can be used if property is abandoned? Escheat
What are the most common private controls of land use? CC&R's
CC&R's are commonly referred to as? Deed Restrictions or Deed Covenants
Limit on a property or a limit on a property's owners rights
Encumbrance
that may or may not also be a cloud on the title
A reservation, encroachment, and easement are all exam-
Encumbrances
ples of what?
Imposed by the grantor, withholds title to a part of the land
described in the deed, such as an easement or mineral Reservation
rights
When a structure or improvement overlaps or trespasses
Encroachment
onto another's property
How are encroachments discovered?
, Champions Real Estate Comprehensive Resource To Help You Ace 2026-2027 Exams Includes
Frequently Tested Questions With ELABORATED 100% Correct COMPLETE SOLUTIONS
Guaranteed Pass First Attempt!! Current Update!!
By physical inspection (actual notice)
A survey (constructive notice)
The determinations of enchroachments require a ? Survey
Allows limited use or employment of another's land. Is use
without possession and must be created in writing and Easement
recorded
How can easements be terminated? Merger, release, or abandonment
How can the government take an easement for itself, the
Condemnation
utilities or the railroads?
The estate that is landlocked without the easement Dominant Estate
If you have two parcels of land with a road across one
parcel, the owner who crosses over the other's land is Dominant
considered?
What estate benefits from the easement? Dominant Estate
What estate is encumbered by the easement? Servient Estate
Easement needed for entry/exit from the property. Goes
Easement Appurtenance
with the land and is owned by the landowner.
Easement belongs to a person or corporation Easement in Gross
A utility easement belonging to the utility company no
Easement in Gross
matter who owns the land is called a?
Permission to do a particular act upon the land or property
License
of another
Occurs when property is acquired from the rightful owner
Adverse Possession
through the Statute of Limitations. Must be hostile.
Recorded notice filed against a specific property, meaning
Lis Pendens
some form of lawsuit has been filed but not yet resolved
