TEST 2026 QUESTIONS WITH CORRECT
ANSWERS GRADED A+
>> Real property
Answer: Land, improvements, fixtures
>> Personal property
Answer: Movable items
>> Fixture
Answer: Attached to real property
>> Trade fixture
Answer: Business equipment, removable
>> Appurtenance
Answer: Rights that transfer with property
>> Bundle of rights
Answer: Possession, control, enjoyment, exclusion, disposition
>> Fee simple absolute
Answer: Highest ownership
>> Fee simple defeasible
Answer: Ownership with condition
, >> Life estate
Answer: Ownership for lifetime
>> Remainder
Answer: Future interest after life estate
>> Reversion
Answer: Interest returns to grantor
>> Leasehold estate
Answer: Tenant's right to possess
>> Tenancy for years
Answer: Fixed term lease
>> Periodic tenancy
Answer: Month-to-month lease
>> Tenancy at will
Answer: Terminable by either party
>> Tenancy at sufferance
Answer: Holdover tenant
>> Lease
Answer: Contract for possession
>> Security deposit
Answer: Tennessee limit 3 months rent