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National Portion Texas Real Estate Exam With Complete Solutions 2025 National Portion Texas Real Estate Exam With Complete Solutions 2025 National Portion Texas Real Estate Exam With Complete Solutions 2025 National Portion Texas Real Estate Exam With Complete Solutions 2025
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What are the two classes of Property? - correct answer1. Land- everything from the center of the earth upward.
What is Tenancy in Common? - correct answerOwnership by two or more WITHOUT rights of survivorship. Each tenant in common may have a different percentage of ownership (unequal shares) in the property. What is Joint in Tenancy? - correct answerOwnership by two or more persons, each have an equal share WITH the right of survivorship. What is Tenancy by the Entirety? - correct answerOwnership by a husband and wife with the rights of survivorship. What does In Trust mean? - correct answerOwnership by a third person for the benefit of another. What is community property? - correct answerAll property acquired after marriage is community property. What is homestead? - correct answerA life estate in a family home. Metes and Bounds - correct answerOldest form of land description in the United States. Describes the perimeter of the property, it must start and stop at the same point. Survey - correct answerThe physical limits to where the property rights extend. Datum - correct answerA marker used in the survey of elevations What are the 4 Government rights to land? - correct answer1. Taxation- a property owner must pay taxes on all real estate.
General Warranty Deed - correct answerGuarantees and protects against defects in title. Special Warranty Deed - correct answerWarrants title against every person lawfully claiming by, through, or under the current grantor. Quitclaim Deed - correct answerTransfers whatever, if any, interest the person giving the deed has in the property. Sheriff's Deed - correct answerGiven by a court to effect the sale of property to satisfy a judgement. Bargain and Sale Deed (Deed without Warranty) - correct answerUses the words "grant, bargain and sell" in the granting clause. What are the 5 Voluntary Alienation methods of transfer? - correct answer1. Exchange- the consideration is other property instead of money.