Texas Real Estate ExamUPDATED ACTUAL QUESTIONS
AND CORRECT Answers
Real property all the legal rights, powers, and privileges of real estate ownership. The rights
of ownership are often referred to as the bundle of rights.
, Bundle of Rights 1.Possession, 2.Use, 3.Encumber, 4.Exclusion, 5.Transfer
Personal Property movable rather than being permanently attached to real estate
Chattel personal property
Fixture An item of personal property that has been converted to real property by
being permanently affixed to the realty. Ex: cabinets, carpet, built-in shelves
Emblements crops or any type of seasonal/annual plantings that are cultivated for profit.
These are classified as personal property.
Trade fixtures personal property that a business operator installs as part of the business
operations.
MARIA Method of Attachment, Adaptability, Relationship, Intention, Agreement
severance turning the item into personal property
Economic Characteristics of Land scarcity, improvements, permanence of investment, area preference
Scarcity There's a limited supply of real property, particularly when considering a
specific area.
AND CORRECT Answers
Real property all the legal rights, powers, and privileges of real estate ownership. The rights
of ownership are often referred to as the bundle of rights.
, Bundle of Rights 1.Possession, 2.Use, 3.Encumber, 4.Exclusion, 5.Transfer
Personal Property movable rather than being permanently attached to real estate
Chattel personal property
Fixture An item of personal property that has been converted to real property by
being permanently affixed to the realty. Ex: cabinets, carpet, built-in shelves
Emblements crops or any type of seasonal/annual plantings that are cultivated for profit.
These are classified as personal property.
Trade fixtures personal property that a business operator installs as part of the business
operations.
MARIA Method of Attachment, Adaptability, Relationship, Intention, Agreement
severance turning the item into personal property
Economic Characteristics of Land scarcity, improvements, permanence of investment, area preference
Scarcity There's a limited supply of real property, particularly when considering a
specific area.
