Chapter 1: Washington State Real-Estate Exam All Questions Solved

Real Property Correct Answers Real property is land, anything attached or affixed to the land, and anything incidental or appurtenant to the land. Real property is also called realty or real estate. Personal Property Correct Answers Personal property is everything that is not land or permanently attached or appurtenant to land. It is usually movable. Personal property is also called chattels. Bundle of Rights Correct Answers An owner of real property has a bundle of rights, including the right to possess, use, enjoy, encumber, will, sell, or do nothing at all with the property. Inverted Pyramid Correct Answers Within the boundaries of her property, a real property owner's ownership rights apply to the surface of the earth. Those rights also apply to everything in an imaginary inverted pyramid, with its tip at the center of the earth, and its base in the upper regions of the sky. Littoral Rights Correct Answers You have just purchased a prime parcel of oceanfront property. You probably have what type of water rights? The owner of property located along a stream or river may have which type of water right? Correct Answers Riparian Rights Water Rights Correct Answers The law puts significant limitations on riparian and littoral rights. Most important, the water may be used only on the riparian or littoral property itself. It can't be transported for use elsewhere, on property that doesn't adjoin the river, lake, or other water source. Prior Appropriation System Correct Answers Someone who wants to use water from a river, lake, or other source must apply to the state for an appropriation permit. Prior Appropriation System Correct Answers If the application is granted, the permit holder gains the right to take or divert water from a particular source for a specified reasonable and beneficial use. The permit holder isn't required to own riparian or littoral land, and the permit may allow the appropriated water to be transported for use far from its source. In Washington, the prior appropriation system may also be applied to groundwater beneath a property. Mineral Rights Correct Answers A landowner's appurtenant rights include mineral rights: the right to extract any solid minerals located within the property's inverted pyramid. These rights can be sold separately from the rest of the property.