Texas Real Estate Exam Prep 2025/2026 | Complete
Study Guide with Q&A | Bundle of Rights, Land
Characteristics, Zoning, Legal Descriptions.
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.
Improvements
Adding improvements to real property affects its value.
Permanence of investment
Investment in improving a property tends to be very long term.
Area preference (location)
The location of a parcel can dramatically affect its value.
Physical Characteristics of Land
Immobility, Indestructibility, Uniqueness
Immobility
In general, land doesn't move.
Indestructibility
This refers to the fact that land can't be destroyed.
Uniqueness
Each property is unique.
Metes and bounds
A method of land description which involves identifying distances and directions and makes use
of both the physical boundaries and measurements of the land.
Lot and block
A method of land description frequently used after land has been subdivided into building lots;
also referred to as the recorded plat method. (Must have a plat map to find the property)
Government survey or rectangular survey
This is a form of legal description used in most central and western states. It uses a system of
horizontal and vertical lines that divide the land into squares called townships. The north-south
lines are called range lines. The east-west lines are called township lines. Each township is 36
square miles. Each square mile is called a section. Property is identified by its location within a
township and section.
, townships
36 square miles
Survey
licensed surveyor
Governmental Powers
P.E.T.E: Police power, eminent domain, taxation, escheat
Police power
right of public entities to establish regulations regarding the use of the land.
Eminent domain
right of a public entity to take private property in exchange for a fair price when the reason for
the taking is for the public good.
Taxation
government's right to impose property taxes
Escheat
The state takes property upon an owners death if there is no will & no heirs exist.
Condemnation
administrative process by which the government exercises its power of eminent domain.
Inverse Condemnation
when a property owner believes the use of his or her property has been destroyed by a
government action or regulation, even if the government hasn't officially taken the property.
Zoning Ordinances
control how property in the jurisdiction is used and to ensure the protection of the environment
and well-being of its citizens.
Planning Boards
Prepare and amend a long-term master plan for the community to address all its needs, such as
residential, commercial, agricultural, transportation, recreation, health and safety, and
protections for environmentally sensitive areas.
Implement the master plan through regulations such as zoning ordinances and building codes.
Study Guide with Q&A | Bundle of Rights, Land
Characteristics, Zoning, Legal Descriptions.
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.
Improvements
Adding improvements to real property affects its value.
Permanence of investment
Investment in improving a property tends to be very long term.
Area preference (location)
The location of a parcel can dramatically affect its value.
Physical Characteristics of Land
Immobility, Indestructibility, Uniqueness
Immobility
In general, land doesn't move.
Indestructibility
This refers to the fact that land can't be destroyed.
Uniqueness
Each property is unique.
Metes and bounds
A method of land description which involves identifying distances and directions and makes use
of both the physical boundaries and measurements of the land.
Lot and block
A method of land description frequently used after land has been subdivided into building lots;
also referred to as the recorded plat method. (Must have a plat map to find the property)
Government survey or rectangular survey
This is a form of legal description used in most central and western states. It uses a system of
horizontal and vertical lines that divide the land into squares called townships. The north-south
lines are called range lines. The east-west lines are called township lines. Each township is 36
square miles. Each square mile is called a section. Property is identified by its location within a
township and section.
, townships
36 square miles
Survey
licensed surveyor
Governmental Powers
P.E.T.E: Police power, eminent domain, taxation, escheat
Police power
right of public entities to establish regulations regarding the use of the land.
Eminent domain
right of a public entity to take private property in exchange for a fair price when the reason for
the taking is for the public good.
Taxation
government's right to impose property taxes
Escheat
The state takes property upon an owners death if there is no will & no heirs exist.
Condemnation
administrative process by which the government exercises its power of eminent domain.
Inverse Condemnation
when a property owner believes the use of his or her property has been destroyed by a
government action or regulation, even if the government hasn't officially taken the property.
Zoning Ordinances
control how property in the jurisdiction is used and to ensure the protection of the environment
and well-being of its citizens.
Planning Boards
Prepare and amend a long-term master plan for the community to address all its needs, such as
residential, commercial, agricultural, transportation, recreation, health and safety, and
protections for environmentally sensitive areas.
Implement the master plan through regulations such as zoning ordinances and building codes.
