ACEABLE AGENT REAL ESTATE
PRINCIPLES STUDY GUIDE 2026
COMPLETE QUESTIONS AND
VERIFIED ANSWERS
◉ Real Estate. Answer: land PLUS improvements
◉ Improvement. Answer: any non natural structure built on or affixed to
land (ex: buildings, fences, decks, roads, etc.)
◉ Real Property. Answer: land with improvements, PLUS the bundle of
rights associated with real estate ownership. conveyed by deed
◉ Bundle of Rights. Answer: The right of...
Exclusion
Possession
Disposition
Quiet Enjoyment
Control
Encumber
◉ (the right to) Exclusion. Answer: gives owner the right to exclude
anyone from their land
, ◉ (the right to) Possession. Answer: right to occupy, live, breathe, and
do whatever you want (in accordance with the law)
◉ (the right to) Disposition. Answer: right to sell, lease, and/or will a
property to anyone you choose. you may also transfer any or all of your
property rights (hence, right of transfer)
◉ (the right to) Quiet Enjoyment. Answer: the right of an owner or
lessee legally in possession of property, to uninterrupted use of the
property without interference from the former owner, lessor or any third
party claiming superior title
◉ (the right to) Control. Answer: right to alter, change, or improve
property as owner sees fit. also includes the right to encumber (right to
put a property on the line as collateral for debt)
◉ Asset. Answer: anything of value that is owned. for example, real
estate is an asset... the buyer hopes their asset will increase in value, with
a goal of earning equity
◉ Equity. Answer: property's total value owned outright by the owner
(all the value ABOVE what an owner owes their lender.
- I buy a home for $200,000 and put $20,000 down. that being said, I
have $20,000 in equity
PRINCIPLES STUDY GUIDE 2026
COMPLETE QUESTIONS AND
VERIFIED ANSWERS
◉ Real Estate. Answer: land PLUS improvements
◉ Improvement. Answer: any non natural structure built on or affixed to
land (ex: buildings, fences, decks, roads, etc.)
◉ Real Property. Answer: land with improvements, PLUS the bundle of
rights associated with real estate ownership. conveyed by deed
◉ Bundle of Rights. Answer: The right of...
Exclusion
Possession
Disposition
Quiet Enjoyment
Control
Encumber
◉ (the right to) Exclusion. Answer: gives owner the right to exclude
anyone from their land
, ◉ (the right to) Possession. Answer: right to occupy, live, breathe, and
do whatever you want (in accordance with the law)
◉ (the right to) Disposition. Answer: right to sell, lease, and/or will a
property to anyone you choose. you may also transfer any or all of your
property rights (hence, right of transfer)
◉ (the right to) Quiet Enjoyment. Answer: the right of an owner or
lessee legally in possession of property, to uninterrupted use of the
property without interference from the former owner, lessor or any third
party claiming superior title
◉ (the right to) Control. Answer: right to alter, change, or improve
property as owner sees fit. also includes the right to encumber (right to
put a property on the line as collateral for debt)
◉ Asset. Answer: anything of value that is owned. for example, real
estate is an asset... the buyer hopes their asset will increase in value, with
a goal of earning equity
◉ Equity. Answer: property's total value owned outright by the owner
(all the value ABOVE what an owner owes their lender.
- I buy a home for $200,000 and put $20,000 down. that being said, I
have $20,000 in equity
