2026: (CALIFORNIA BROKER EXAM- Questions & Correct Answers | Study Resource)
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, 2026: (CALIFORNIA BROKER EXAM- Questions & Correct Answers | Study Resource)
Terms in this set (366)
Property
The rights or interests which the owner has in the thing he owns. The owner has a bundle of rights subject to
governmental powers and claims of others
Bundle of Rights
The right to possess, to use, to see, to enter, to give away, to lease, to encumber, to dispose, to exclude, to do nothing
Governmental powers
Police powers, escheats, taxations, and eminent domain
Chattel Real
Personal property
Personal Property
movable property
What can you do with personal property?
It can be alienated, hypothecated, or can sometimes become real property
Real property
Generally immovable
L-A-A (Land, Affixed to land, Appurtenance).
Riparian Rights
The right of a landowner to the reasonable and appropriate use of water from a stream, RIVER, or watercourse touching
his land
Condemnation
The act or taking of private property for public use by a political subdivision; declaration that a structure is unfit for use
3/10/2026, 8:03:21 PM 3/10/2026, 8:03:28 PM 3/10/2026, 8:03:25 PM
, 2026: (CALIFORNIA BROKER EXAM- Questions & Correct Answers | Study Resource)
Prescription
The securing of an easement on a property by using it under certain conditions for a given period of time
Littoral Rights
The right of a landowner to the reasonable and appropriate use of water from a LAKE, sea or ocean touching his land
Appropriation
Only the state can give permission to a non-riparian owner to take water from a river or lake
Percolating Waters
Underground waters not in a defined channel
Flood hazard is classified as frequent
When there are 2 or more floods in 10 years
Methods to determine Fixtures
Methods of attachment, Adaptability of the item, Relationship of the parties, Intention of the person attaching it,
Agreement between the parties (MARIA)
Appurtenances
Run with the land (Apart of the land or owned by the land)
Estates
Ownership rights and interests which are or could become possessory (estates or fees)
Fee Simple Estate
(Fee, Estate in fee, perpetual estate, estate of inheritance. It is indefinite in duration and can be conveyed during life or
upon death. It may have encumbrances.
Fee Simple Defeasible
There are conditions or limitations on the use of the property. If they are broken, the owner's title is defeated and reverts
back to the original owner
Life Estate
A freehold estate limited in duration to the life or lives of one or more designated persons.
3/10/2026, 8:03:21 PM 3/10/2026, 8:03:28 PM 3/10/2026, 8:03:25 PM
, 2026: (CALIFORNIA BROKER EXAM- Questions & Correct Answers | Study Resource)
Less-than-freehold estate
Possess(lease)
Estate at Sufferance
Lessee (holdover tenant) retains possession after the expiration of his term, without consent of the landlord
Gross lease
landlord pays taxes, insurance, and maintenance
Net lease
lessee pays variable expenses such as taxes, insurance, and maintenance. lessor receives fixed income
Percentage lease
lessee pays rent based on percentage of gross receipts often with an established minimum.
Graduated lease
lessee pay varying rent based by an Escalator clause. Commercial leases often use (CPI) consumer price index
sandwich lease (sublease)
leasehold interest which lies between the primary and the operating lease
Accession
Acquisition of property by its being added to other property.
Accretion
Process of gradual or imperceptible additions to land bordering a river or stream. Owner gains title of new land by Natural
Causes
Alluvion
The soil deposited by accretion
avulsion
sudden violent tearing away of land by water
3/10/2026, 8:03:21 PM 3/10/2026, 8:03:28 PM 3/10/2026, 8:03:25 PM
Save
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3/10/2026, 8:03:21 PM 3/10/2026, 8:03:28 PM 3/10/2026, 8:03:25 PM
, 2026: (CALIFORNIA BROKER EXAM- Questions & Correct Answers | Study Resource)
Terms in this set (366)
Property
The rights or interests which the owner has in the thing he owns. The owner has a bundle of rights subject to
governmental powers and claims of others
Bundle of Rights
The right to possess, to use, to see, to enter, to give away, to lease, to encumber, to dispose, to exclude, to do nothing
Governmental powers
Police powers, escheats, taxations, and eminent domain
Chattel Real
Personal property
Personal Property
movable property
What can you do with personal property?
It can be alienated, hypothecated, or can sometimes become real property
Real property
Generally immovable
L-A-A (Land, Affixed to land, Appurtenance).
Riparian Rights
The right of a landowner to the reasonable and appropriate use of water from a stream, RIVER, or watercourse touching
his land
Condemnation
The act or taking of private property for public use by a political subdivision; declaration that a structure is unfit for use
3/10/2026, 8:03:21 PM 3/10/2026, 8:03:28 PM 3/10/2026, 8:03:25 PM
, 2026: (CALIFORNIA BROKER EXAM- Questions & Correct Answers | Study Resource)
Prescription
The securing of an easement on a property by using it under certain conditions for a given period of time
Littoral Rights
The right of a landowner to the reasonable and appropriate use of water from a LAKE, sea or ocean touching his land
Appropriation
Only the state can give permission to a non-riparian owner to take water from a river or lake
Percolating Waters
Underground waters not in a defined channel
Flood hazard is classified as frequent
When there are 2 or more floods in 10 years
Methods to determine Fixtures
Methods of attachment, Adaptability of the item, Relationship of the parties, Intention of the person attaching it,
Agreement between the parties (MARIA)
Appurtenances
Run with the land (Apart of the land or owned by the land)
Estates
Ownership rights and interests which are or could become possessory (estates or fees)
Fee Simple Estate
(Fee, Estate in fee, perpetual estate, estate of inheritance. It is indefinite in duration and can be conveyed during life or
upon death. It may have encumbrances.
Fee Simple Defeasible
There are conditions or limitations on the use of the property. If they are broken, the owner's title is defeated and reverts
back to the original owner
Life Estate
A freehold estate limited in duration to the life or lives of one or more designated persons.
3/10/2026, 8:03:21 PM 3/10/2026, 8:03:28 PM 3/10/2026, 8:03:25 PM
, 2026: (CALIFORNIA BROKER EXAM- Questions & Correct Answers | Study Resource)
Less-than-freehold estate
Possess(lease)
Estate at Sufferance
Lessee (holdover tenant) retains possession after the expiration of his term, without consent of the landlord
Gross lease
landlord pays taxes, insurance, and maintenance
Net lease
lessee pays variable expenses such as taxes, insurance, and maintenance. lessor receives fixed income
Percentage lease
lessee pays rent based on percentage of gross receipts often with an established minimum.
Graduated lease
lessee pay varying rent based by an Escalator clause. Commercial leases often use (CPI) consumer price index
sandwich lease (sublease)
leasehold interest which lies between the primary and the operating lease
Accession
Acquisition of property by its being added to other property.
Accretion
Process of gradual or imperceptible additions to land bordering a river or stream. Owner gains title of new land by Natural
Causes
Alluvion
The soil deposited by accretion
avulsion
sudden violent tearing away of land by water
3/10/2026, 8:03:21 PM 3/10/2026, 8:03:28 PM 3/10/2026, 8:03:25 PM
