Texas Real Estate Exam

Front 1

Center of earth to airspace above (infinity). All 3 rights belong to ownership unless reservation in deed is excluded

Back 1

Surface / Air / Subsurface
(Subsurface is most important in Texas)

Front 2

Land and anything permanently affixed to it.

Back 2

Real property

Front 3

Land and anything permanently affixed plus the interests, benefits, and rights inherent in the ownership.

Back 3

Real Estate

Front 4

Bundle of Rights include:

Back 4

Possession, Control, Enjoyment, Exclusion, Disposition

Front 5

Movable objects that do not fit into the definition of real property; conveyed by bill of sale

Back 5

Personal Property (chattels)

Front 6

An item of personal property that has been converted to real property by permanent attachment to the land or building is:

Back 6

Fixture

Front 7

An item installed by a commercial tenant thru the term of the lease and removable by the tenat before the expiration of the lease is:

Back 7

Trade Fixture
(If not removed, the trade fixture b/c real property of the building owner by accession)

Front 8

Those rights, privileges and improvments that belong to and pass w/ the transfer of real property but may not be a part of the property is

Back 8

Appurtances
(rights-of-way, water rights, easements and certain property improvments)

Front 9

Annual plantings or crops such as: corn, wheat, vegetables are considered to be personal property and also known as:

Back 9

Emblements / Crops / Fructus Industriales

Front 10

When one severs something from the land: trees, oil, minerals and emblements - it b/c personal property by

Back 10

Severance

Front 11

Geographic location of a parcel of land is fixed - can never be changed it is:

Back 11

Immobile

Physical characteristic

Front 12

Long-term nature of improvements plus permanence of land tends to create stability in land development

Back 12

Indestructible

Physical characteristic

Front 13

All parcels differ geographically and each parcel has its own location it is said to be

Back 13

Unique

Physical characteristic

Front 14

No two parcels of land are identical its called

Back 14

Nonhomogeneous = not similar

Physical characteristic

Front 15

There is substantial amount of unused land, supply in a given location or of a specific quality can be limited is called

Back 15

Scarcity (supply & demand)

Economic characteristic

Front 16

Placement of an improvement on a parcel of land affects value and use of neighboring parcels of land

Back 16

Improvements

Economic characteristic

Front 17

Improvements represent a large fixed investment - drainage and sewer - cannot be dismantled or removed economically

Back 17

Permanence of Investment

Economic characteristic

Front 18

Refers to people's choices and desires for a given area

Back 18

Area Preference / Location / Situs

Economic characteristic

Front 19

Point of Beginning - A boundary must return to the point of beginning so that the land described is fully enclosed. actual distances between monuments (fixed objects)

Back 19

Metes and Bounds / Distance & Direction

Front 20

Based on measurements from base lines and principal meridians. Base lines run east and west; principal meridians run north and south.

Back 20

Rectangular (Government) Survey

Front 21

six miles square (36 square miles) contains 36 sections is a

Back 21

Township

Front 22

a section is a square mile and a square mile contains how many acres

Back 22

640 acres

Front 23

One acre is how many sqaure feet

Back 23

43,560 square feet