Texas Real Estate State Exam Graded A+ 2023

Real Property answer- land, Improvements attached to the land, and the rights to use them Personal Property answer- right or interest in things of a temporary or movable nature chattel personality. Ownership transferred by a BILL OF SALE Fixture answer- Personal Property attached in such a way to make it real property. Annexation answer- Process of attaching personal property to real property making it a fixture Severed or Severance answer- Real property being removed becoming personal property Trade Fixtures answer- required to carry out a business example would be commercial cooking equipment in a restaurant Accesion answer- Acquiring trade fixtures by non removal prior to termination of lease Land 3 physical characteristics answer- nonhomogeneity, immobility, indestructibility Nonhomogeneity answer- no to pieces are exactly alike