Prep Agent Exam Questions With 100% Correct Answers

Prep Agent Exam Questions With 100%
Correct Answers
Bundle of rights
DEEP C


Real Property
immovable


Personal Property
movable


Chattel Real
Moveable - cows moveeee personal property


fixture
(Maria) Method, Adaptability, Relationship, Intention, Agreement.


Trade fixture
Business dentist chair


riparian rights
rivers and streams moving body of water


littoral rights
Lakes, Oceans, large bodies of water


freehold estate
own indefinitely


fee simple
absolute


fee simple defeasible
no alcohol


life estate
king and knight


Less than freehold estate
rental


constructive eviction
no water or heat

, periodic tenancy
month to month or year to year


estate at will
can terminate at any time


estate for years
Fixed period. example. Summer rental


Estate at sufferance
deadbeat tenant


emblements
crops. personal


percentage lease
part of gross receipts


net lease
tenant pays a portion of taxes insurance maintenance


gross lease
flat rent


title
ownership


cloud on title
title is not clear. Example. former name


Quiet title action
cloud removal


alienation of title
conveyance (giving) the title


severalty
sole ownership


concurrent estate
Owning property with others