ASREB Exam Prep Questions and
Answers 100% Pass
What is included in a "Bundle of Rights"?
(allodial system of ownership) - ✔✔1. Possession
2. Use
3. Encumbrance (loan against)
4. Expulsion (exclude others)
5. Transfer
Corporeal - ✔✔Land and Tenements (buildings)
Incorporeal - ✔✔Rights and Relationships
Hereditaments - ✔✔Any property that can be inherited
Fixtures - ✔✔Item of personal property that because of it's attachment becomes real
property
Brittie Donald, All Rights Reserved © 2025 1
, MARIA
Legal test to determine what is or isn't a fixture - ✔✔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 change a fixture back into personal property? - ✔✔Detachment or
Severance
Personal Property is also called... - ✔✔Chattel or Personalty
Transfer of Title (via Deed): Will - ✔✔In testate succession ... person died with a will
Transfer of Title (via Deed): Interstate Succession - ✔✔Person died without a will but
has heirs
Two types of Personal Property - ✔✔Tangible: objects
Intangible: (rights and relationships - trademarks, logo, slogan, patent, royalties, etc.)
If its not Realty, its... - ✔✔Personalty (personal property or chattel)
Brittie Donald, All Rights Reserved © 2025 2
Answers 100% Pass
What is included in a "Bundle of Rights"?
(allodial system of ownership) - ✔✔1. Possession
2. Use
3. Encumbrance (loan against)
4. Expulsion (exclude others)
5. Transfer
Corporeal - ✔✔Land and Tenements (buildings)
Incorporeal - ✔✔Rights and Relationships
Hereditaments - ✔✔Any property that can be inherited
Fixtures - ✔✔Item of personal property that because of it's attachment becomes real
property
Brittie Donald, All Rights Reserved © 2025 1
, MARIA
Legal test to determine what is or isn't a fixture - ✔✔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 change a fixture back into personal property? - ✔✔Detachment or
Severance
Personal Property is also called... - ✔✔Chattel or Personalty
Transfer of Title (via Deed): Will - ✔✔In testate succession ... person died with a will
Transfer of Title (via Deed): Interstate Succession - ✔✔Person died without a will but
has heirs
Two types of Personal Property - ✔✔Tangible: objects
Intangible: (rights and relationships - trademarks, logo, slogan, patent, royalties, etc.)
If its not Realty, its... - ✔✔Personalty (personal property or chattel)
Brittie Donald, All Rights Reserved © 2025 2
