Texas Real Estate State Exam (State Exam Prep
Material) Expert Verified Actual Questions & Answers
for Guaranteed Pass | Newest Update, .
Real Property - answer-land, Improvements attached to the land, and the
rights to use them
Personal Property - answer-right or interest in things of a temporary or
movable nature chattel personalty. Ownership transferred by a BILL OF SALE
Fixture - answer-Personal Property attached in such a way to make it real
property.
Annexation - answer-Process of attaching personal property to real property
making it a fixture
Easement in Gross - answer-belongs to a person or corporation example would
be utility easement
License - answer-permission to do a particular act , go fishing or ticket to
Football game
,Adverse Possession (Squatters rights) - answer-occurs when property is
acquired from the rightful owner through the State of Limitations
Estate - answer-interest in real property
Freehold estate - answer-ownership, Bundle of Rights, for indeterminate
length,Ownership with the greatest bundle of rights Fee Simple or Fee Simple
Absolute
Non-Freehold estate or lease-hold - answer-has a termination date
Defeasible Fee, Conditional Fee, Qualified Fee, Qualified Defeasible Fee -
answer-ownership with conditions or terms which if violated could cause the
ownership interest to be defeated or terminated.
Life Estate - answer-ownership for the duration of someone's life. Owner called
Life tenant. Remainderman person getting the estate after owner dies
Reversion - answer-life estate is setup so that at the end of the life estate the
property goes back to the original owner
Estate in severalty or Sole ownership - answer-Ownership by one person
Tenancy in common - answer-Ownership by two or more without rights of
survivorship goes to your heirs not the other owners
, Joint Tenancy - answer-Ownership by two or more with rights of survivorship
goes to other owners overrides a will
Trust - answer-if a property is held by one party for the benefit of another
Syndicate - answer-when two or more parties join together to create and
operate a real estate investment
4 leasehold estates - answer-Estate for years, periodic Tenancy, Estate at will,
tenancy at sufferance
Estate for years - answer-lease with specific starting and ending date EX.12
Month lease on a Apt.
Periodic Tenancy - answer-fixed period of time that automatically renewed EX.
Month to Month
Estate at will - answer-Lease can be terminated by either party at will without
notice
Tenancy at Sufferance - answer-Lease expires and tenant refuses to move out
Holdover Tenancy - answer-holdover tenant pays rent and it is accepted
Material) Expert Verified Actual Questions & Answers
for Guaranteed Pass | Newest Update, .
Real Property - answer-land, Improvements attached to the land, and the
rights to use them
Personal Property - answer-right or interest in things of a temporary or
movable nature chattel personalty. Ownership transferred by a BILL OF SALE
Fixture - answer-Personal Property attached in such a way to make it real
property.
Annexation - answer-Process of attaching personal property to real property
making it a fixture
Easement in Gross - answer-belongs to a person or corporation example would
be utility easement
License - answer-permission to do a particular act , go fishing or ticket to
Football game
,Adverse Possession (Squatters rights) - answer-occurs when property is
acquired from the rightful owner through the State of Limitations
Estate - answer-interest in real property
Freehold estate - answer-ownership, Bundle of Rights, for indeterminate
length,Ownership with the greatest bundle of rights Fee Simple or Fee Simple
Absolute
Non-Freehold estate or lease-hold - answer-has a termination date
Defeasible Fee, Conditional Fee, Qualified Fee, Qualified Defeasible Fee -
answer-ownership with conditions or terms which if violated could cause the
ownership interest to be defeated or terminated.
Life Estate - answer-ownership for the duration of someone's life. Owner called
Life tenant. Remainderman person getting the estate after owner dies
Reversion - answer-life estate is setup so that at the end of the life estate the
property goes back to the original owner
Estate in severalty or Sole ownership - answer-Ownership by one person
Tenancy in common - answer-Ownership by two or more without rights of
survivorship goes to your heirs not the other owners
, Joint Tenancy - answer-Ownership by two or more with rights of survivorship
goes to other owners overrides a will
Trust - answer-if a property is held by one party for the benefit of another
Syndicate - answer-when two or more parties join together to create and
operate a real estate investment
4 leasehold estates - answer-Estate for years, periodic Tenancy, Estate at will,
tenancy at sufferance
Estate for years - answer-lease with specific starting and ending date EX.12
Month lease on a Apt.
Periodic Tenancy - answer-fixed period of time that automatically renewed EX.
Month to Month
Estate at will - answer-Lease can be terminated by either party at will without
notice
Tenancy at Sufferance - answer-Lease expires and tenant refuses to move out
Holdover Tenancy - answer-holdover tenant pays rent and it is accepted
