CA DRE Salesperson Exam Questions and Complete Solutions

What are the two types of freehold estates? 1) an estate in fee (simple absolute) 2) a life estate. What is the most complete, largest type of estate that includes all rights associated with the estate? An estate in fee simple absolute What type of estate do you own if someone grants you real property for you to own only during your lifetime? When you die, the property reverts back to original estate owner. a life estate The rights of tenants who rent or lease property is what type of estate? Less-than-freehold Does property refer to "rights" or "thing" owned? Thing What are the two types of property? real and personal What four things make up real property? 1) land; 2) anything affixed and regarded as permanent part of the land; 3) anything incidental or appurtenant to the land; 4) anything immovable from land Besides the earth, i.e. soil and rocks, what else do you own when you own land? The air space above the land and space beneath the land. What types of things are considered "affixed" to the land? bridges, trees, buildings and anything affixed to the buildings, ie doors. What are waterways, easements, access or other benefits associated with land considered? incidental or appurtenant to the land What are the four different duration types that are associated with estates? 1) estates of inheritance or perpetual estates 2) estates for life 3) estates for years 4) estates at wi