Real Estate Exam Prep (Champions; Texas) Questions with complete solutions

appurtenance - ANSWER-term used to describe rights, privileges or improvements that belong to and pass with the land improvements - ANSWER-man's additions to the land such as building and landscaping personal property - ANSWER-also called chattel or personalty; a right or interest in smiting of a temporary or movable nature and includes anything not classed as real property. Real property becomes personal property through severance. bill of sale - ANSWER-ownership of chattel or personalty is transferred via this, also called a non-realty item addendum fixture - ANSWER-item that was personal property but has been attached in such a way that it has become real property such at tv brackets installed - ANSWER-often indicates a permanent attachment annexation - ANSWER-the process of attaching an item of personal property to real estate such that it becomes a fixture severance - ANSWER-the process of real property becoming personal. Fixture is uninstalled and becomes personal property again trade fixtures - ANSWER-term used for fixtures in commercial transactions. installed by a tenant to carry out a business and may be removed prior to the termination of the lease. If they are not removed they become real property and pass to the landlord emblements - ANSWER-crops that are cultivated annually. Considered the personal property of the farmer who cultivated them. Ownership can be transferred with a bill or sale, or farmer may make arrangements to return to the property and harvest them one time.