Texas Salesperson Real Estate Exam (National) 100% Pass

Texas Salesperson Real Estate Exam (National) 100% Pass Real Property Land and Improvements and the Right to Use Them Fixture Personal property that has been attached. "Installed" or "Annexation" Trade Fixtures Required to run a business. They may be removed from the property prior to the termination of the lease. (Doctors, Dentists, Chef, Barber) Non-homogeneity Land: No two pieces are exactly alike. Immobility Land: Cannot be moved Indestructibility Land: "Durability" - it will always be there. Scarcity Land: In short supply where demand is great. Modification Land: Improvements made my man (fencing, railroads). Fixity Land is fixed and is not a liquid asset. Situs Land: Location preference. Economic location not geographic. "Location, Location, Location." Metes and Bounds Legal Description of Land: Always have a point of beginning. Uses compass direction, degrees, and minutes. Used in 13 colonies. Lot, Block, Subdivision Legal Description of Land: Recorded Map or Plat Monuments Legal Description of Land: They add accuracy, all 4 corners must be monuments. "Old oak tree" "where John shot the bear" "stand of timbers." Can be man made. Rectangular Survey System Legal Description of Land: "Government Survey System," Base lines, meridians, townships and sections. Township = 36 sections, Section = 640 acres (1 square mile), Acre = 43650 square feet. EX: S7 T3 R2 means Section 7 Township 3 and Range 2. Modular and Prefabricated Physical description of property to specify types of construction. These are homes that are constructed using offsite construction and brought onsite. Encumbrance Anything that restricts your rights. Also a cloud on title. Release The legal method of removing an encumbrance Lien A charge on the property as