Texas Principles of Real Estate 1 (2024 / 2025) Exam | Guide with Questions and Verified Answers | 100% Correct

Texas Principles of Real Estate 1 (2024 / 2025) Exam | Guide with Questions and Verified Answers | 100% Correct Q: curtsey rights Answer: right a husband has to his wifes estate upon her death Q: fee simple defeasable Answer: a gift of land by a person or GRANTOR Q: Life Estate Answer: an estate in land for the duration of someones life (always a gift of land/ real estate) Q: Homestead Answer: Texas is a Homestead State. The property that you own and live in. It is a constitutional right that cannot be waived. Q: Urban homestead Answer: homestead limited to 10 acres Q: rural homestead Answer: limited to 200 acres for a married couple 100 for a single person Q: easement Answer: right of one person to use the property that belongs to another Q: types of easements Answer: gross necessity perscription appurtenant Q: easement by necessity Answer: easement given when one property is landlocked and needs to be given access to from someone elses land Q: Easement in gross Answer: is a utility easement Q: easement by prescription Answer: easement granted after dominant estate has used the property in a constant continuous and open manner for a prescribed number of years Q: Easement appurtenant Answer: used between two lots to allow the owner of one lot to cross the others property Q: deed restrictions/covenents Answer: put into place by developer and are a private control of property Q: Encroachments Answer: something that extends across a property line onto the property of another Q: Liens Answer: legal claim on someones property as a security for a debt Q: Types of liens Answer: mortgage, property tax lien, mechanics lien, judgement and can be voluntary or involuntary and are either specific or general Q: License Answer: personal priviledge given to someone to use land-not an estate or right to land Q: Estate of Severalty Answer: sole ownership of property-not part of community property Q: Joint tenancy Answer: ownership in property where owners own equal shares and has right of suvivorship-cannot be passed on to others upon their death, cannot be sold or given away either-last surviving owner takes property in severalty Q: right of suvivorship Answer: in joint tenancy if one partner dies his share goes to the remaining partners Q: conditions upon which a joint tenancy can be made