Aceable Agent: Level 1 Exam Questions and Answers | Updated 2026

Aceable Agent: Level 1 Exam Questions and Answers | Updated 2026 Deed - answer-A document that transfers ownership of property from one party to another. Legal Title - answer-Full legal ownership of property and the bundle of rights as they apply to it. Federal Government - answer-Regulates broad issues State Government - answer-The primary regulators of real estate law. They address things such as flood zones and waste disposal. Local Government - answer-Cover real estate on an even smaller scale. Addresses issues such as land use control, taxation, and zoning. Special-purpose real estate properties: - answer-Often publicly owned Require substantial reinvestment to convert to another purpose or use Do not come up for sale as frequently as other property types Chattel/Personalty - answer-personal property Personal Property best practices - answer-Get the seller's intentions regarding the personal property in writing. Frutus Industriales - answer-Annually cultivated crops are generally considered to be personal property, even prior to harvesting.Affixation/Annexation - answer-The process of converting personal property to real property Close Association - answer-A conceptual linkage to real property, such as a garage door opener. Adoption - answer-The customization of personal property for use with real property, such as drapes cut for a window in a room with a vaulted ceiling. Trade Fixture (chattel fixture) - answer-Personal property that is owned by and needed for a tenant's business. Severance - answer-The act of converting real property into personal property. MARIA - answer-Method of attachment Adaptability Relationship of the parties Intent, or intentions of the annexing party Agreement Adaptability - answer-Anything specifically adapted to the home (like window shades) Relationship of the parties - answer-Refers to landlord-tenant relationships. When tenants install things in a home, they are allowed to take them when they leave Intent - answer-The Intent the homeowner had when they installed the item in question. Something that was intended to be permanent, like a built-in bookcase, is probably a fixture. Accession - answer-The right to all that one's own property produces, including that which is added, either naturally or by human action, to the property already owned. This often comes into play when dealing with crops.Accretion - answer-The process that results in the gradual increase in land area through deposits of soil by natural forces. Reliction - answer-A gradual increase in land area when water gradually withdraws.