REAL ESTATE PRINCIPLES FINAL EXAM
EDUCATIONAL GUIDE
©Steering - Directing Home Seekers to particular neighborhoods based
on the the fair housing protected classes
©Blockbusting - Real estate agents creating fear in a neighborhood in
order to induce the owner of the houses to sell the properties at a loss to
the agents
©Equal Credit Opportunity Act of 1974 - Prohibits discrimination based
on race color, etc. and receipt of income from a public assistance
program.
©Real Property/ Real Estate - Land, improvements and the rights to own
them
©Improvements - Anything put on the land with the intent of improving
the land.
©Chattel - Personal Property
©Appurtenances - Right or privilege attached to land that goes with the
land when ownership of the land changes.
,©Fixture - Something that was personal property and has now become
real estate because it has been attached to the land.
©Three tests of a fixture - A) Method of annexation B)Fitness or
adaptation to the property C) Intention of the parties
©Trade Fixture - Something that is attached to a property under a
commercial lease.
©Fixity or Permanence of Investment - The fact that improvements to
the land will take a long time to pay for them.
©Metes and Bounds - Uses distance and directions to define and
describe the shape and boundaries of the property.
©Datum - Used to mark elevation
©Rectangular Survey System - Uses latitude, longitude, standard and
baselines to divide earth into areas
©Townships - Areas of earth = 36 Sq. Miles
©Unit - 1 sq. mile or 640 acres
, ©Acre - 43,560
©Recorded Plat - When land is divided into plots
©Informal Reference - not a legal description.
©Riparian Rights - The right to use water in a river or stream
©Littoral Rights - Rights a landowner has to use and enjoy the water
that touches his land but he may not alter the course of the water
©Surface water - Publicly owned and governed by the state of Texas.
©Rule of Capture - A landowner with a well is allowed to pump water
from under his property.
©Open Beach Act - The public has the free and unrestricted right to use
the open beach.
©Accretion - Land is increased in size because of hte natural deposit of
rock and soil
©Alluvion - Land that has been created by accretion
EDUCATIONAL GUIDE
©Steering - Directing Home Seekers to particular neighborhoods based
on the the fair housing protected classes
©Blockbusting - Real estate agents creating fear in a neighborhood in
order to induce the owner of the houses to sell the properties at a loss to
the agents
©Equal Credit Opportunity Act of 1974 - Prohibits discrimination based
on race color, etc. and receipt of income from a public assistance
program.
©Real Property/ Real Estate - Land, improvements and the rights to own
them
©Improvements - Anything put on the land with the intent of improving
the land.
©Chattel - Personal Property
©Appurtenances - Right or privilege attached to land that goes with the
land when ownership of the land changes.
,©Fixture - Something that was personal property and has now become
real estate because it has been attached to the land.
©Three tests of a fixture - A) Method of annexation B)Fitness or
adaptation to the property C) Intention of the parties
©Trade Fixture - Something that is attached to a property under a
commercial lease.
©Fixity or Permanence of Investment - The fact that improvements to
the land will take a long time to pay for them.
©Metes and Bounds - Uses distance and directions to define and
describe the shape and boundaries of the property.
©Datum - Used to mark elevation
©Rectangular Survey System - Uses latitude, longitude, standard and
baselines to divide earth into areas
©Townships - Areas of earth = 36 Sq. Miles
©Unit - 1 sq. mile or 640 acres
, ©Acre - 43,560
©Recorded Plat - When land is divided into plots
©Informal Reference - not a legal description.
©Riparian Rights - The right to use water in a river or stream
©Littoral Rights - Rights a landowner has to use and enjoy the water
that touches his land but he may not alter the course of the water
©Surface water - Publicly owned and governed by the state of Texas.
©Rule of Capture - A landowner with a well is allowed to pump water
from under his property.
©Open Beach Act - The public has the free and unrestricted right to use
the open beach.
©Accretion - Land is increased in size because of hte natural deposit of
rock and soil
©Alluvion - Land that has been created by accretion
