ASREB Exam Prep 2023/2024 with 100% correct answers

What is included in a "Bundle of Rights"? (allodial system of ownership) - correct answer 1. Possession 2. Use 3. Encumbrance (loan against) 4. Expulsion (exclude others) 5. Transfer Corporeal - correct answer Land and Tenements (buildings) Incorporeal - correct answer Rights and Relationships Hereditaments - correct answer Any property that can be inherited Fixtures - correct answer Item of personal property that because of it's attachment becomes real property MARIA Legal test to determine what is or isn't a fixture - correct answer 1. Method of a attachment (How permanent is the fixture 2. Agreement (agreed to verbally/written by both parties) 3. Relationship (what is the relationship of the item to a party...do they need it for health reasons, etc.?) 4. Intent (what was the intent of the annexors (installers)) 5. Adaptability (how does the fixture fit into the purpose) How do you