Florida Real Estate exam chapter 8
Accurate 100%
Nature of property - ANSWER Allodial system allocates full property ownership rights to
private individuals. Grew out of English feudal system.
1. Land
2. Real estate
3. Real property
Physical components of land - ANSWER 1. Surface rights. Land and water rights.
2. Subsurface rights. Mineral rights.
3. Air rights. Space above a tract, extending up to a height established by law.
Types of water surface rights - ANSWER 1. Riparian rights are associated with land
abutting the banks of a river, stream, or other watercourse. Riparian - river
2. Littoral rights are associated with land abutting tidal bodies of water such as the
ocean, sea, or lake. Littoral - Lake
2 Basic types of property - ANSWER Real property
Personal property
Personal property
Also known as chattel - ANSWER Movable items not attached to real property; items
severed from real property.
Trade fixtures or items of personal property attached to real property that is owned by a
tenant and is used in a business, legally removable by tenant.
Real property - ANSWER Real estate or real property is land and anything permanently
attached to it.
Fixtures are items of personal property converted to real property by attaching it to the
real property with the intention that it become permanently apart thereof. Example
fence.
Fixtures - ANSWER Fixtures are objects that were personal property but then
permanently attached to or made part of real estate and thus are now real property.
Test for fixtures - ANSWER IRMA
Intent of the parties
Relationship between parties
Method of annexation
Adaptation of the article
Accurate 100%
Nature of property - ANSWER Allodial system allocates full property ownership rights to
private individuals. Grew out of English feudal system.
1. Land
2. Real estate
3. Real property
Physical components of land - ANSWER 1. Surface rights. Land and water rights.
2. Subsurface rights. Mineral rights.
3. Air rights. Space above a tract, extending up to a height established by law.
Types of water surface rights - ANSWER 1. Riparian rights are associated with land
abutting the banks of a river, stream, or other watercourse. Riparian - river
2. Littoral rights are associated with land abutting tidal bodies of water such as the
ocean, sea, or lake. Littoral - Lake
2 Basic types of property - ANSWER Real property
Personal property
Personal property
Also known as chattel - ANSWER Movable items not attached to real property; items
severed from real property.
Trade fixtures or items of personal property attached to real property that is owned by a
tenant and is used in a business, legally removable by tenant.
Real property - ANSWER Real estate or real property is land and anything permanently
attached to it.
Fixtures are items of personal property converted to real property by attaching it to the
real property with the intention that it become permanently apart thereof. Example
fence.
Fixtures - ANSWER Fixtures are objects that were personal property but then
permanently attached to or made part of real estate and thus are now real property.
Test for fixtures - ANSWER IRMA
Intent of the parties
Relationship between parties
Method of annexation
Adaptation of the article
