Social Science Economics
Texas Real Estate State Exam
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Texas Real Estate Exam (State) texas real estate practice exam Texas Real Estate National Exam Tes... NATIO
32 terms 100 terms 105 terms 164 term
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Practice questions for this set
Learn 1 /7 Study with Learn
mostly residential properties compares sales to similar properties in the
area 3-5 sales no more than 6 months old
Choose an answer
1 Replacement cost approach 2 Income approach
3 Market data approach 4 The cost approach
Don't know?
Terms in this set (163) Hide definitions
Real Property land, Improvements attached to the land, and the rights to use them
, Personal Property right or interest in things of a temporary or movable nature chattel personalty.
Ownership transferred by a BILL OF SALE
Fixture Personal Property attached in such a way to make it real property.
Annexation Process of attaching personal property to real property making it a fixture
Severed or Severance Real property being removed becoming personal property
Trade Fixtures required to carry out a business example would be commercial cooking
equipment in a restaurant
Accesion Acquiring trade fixtures by non removal prior to termination of lease
Land 3 physical characteristics nonhomogeneity, immobility, indestructibility
Nonhomogeneity no to pieces are exactly alike
immobility land cannot be moved - a person must go to the land
indestructibility durability - it will always be there
Land 4 economic characteristics scarcity, modification, fixity, situs
scarcity short supply where demand is great example lot in Manhattan v. a lot in upstate
NY
modification land use and value are greatly influenced by improvements made by man to land
and to surrounding parcels of land
fixity land and buildings and other improvements to land are consideration fixed or
permanent investments- they are not liquid assets
Texas Real Estate State Exam
49 studiers today 4.6 (156 reviews)
Students also studied
Flashcard sets Study guides
Texas Real Estate Exam (State) texas real estate practice exam Texas Real Estate National Exam Tes... NATIO
32 terms 100 terms 105 terms 164 term
madelineesmithh Preview amanda_williams222 Preview kjalmighty Preview taly
Practice questions for this set
Learn 1 /7 Study with Learn
mostly residential properties compares sales to similar properties in the
area 3-5 sales no more than 6 months old
Choose an answer
1 Replacement cost approach 2 Income approach
3 Market data approach 4 The cost approach
Don't know?
Terms in this set (163) Hide definitions
Real Property land, Improvements attached to the land, and the rights to use them
, Personal Property right or interest in things of a temporary or movable nature chattel personalty.
Ownership transferred by a BILL OF SALE
Fixture Personal Property attached in such a way to make it real property.
Annexation Process of attaching personal property to real property making it a fixture
Severed or Severance Real property being removed becoming personal property
Trade Fixtures required to carry out a business example would be commercial cooking
equipment in a restaurant
Accesion Acquiring trade fixtures by non removal prior to termination of lease
Land 3 physical characteristics nonhomogeneity, immobility, indestructibility
Nonhomogeneity no to pieces are exactly alike
immobility land cannot be moved - a person must go to the land
indestructibility durability - it will always be there
Land 4 economic characteristics scarcity, modification, fixity, situs
scarcity short supply where demand is great example lot in Manhattan v. a lot in upstate
NY
modification land use and value are greatly influenced by improvements made by man to land
and to surrounding parcels of land
fixity land and buildings and other improvements to land are consideration fixed or
permanent investments- they are not liquid assets
