A seller installs a custom built-in bookcase specifically designed for a wall niche in the living room. When the home is sold, the bookcase is most likely:
Why A fixture (real property) that conveys with the home Is Correct
Answer C: A fixture (real property) that conveys with the home
Exam Tip: Property Ownership
Property ownership questions test the bundle of rights and different forms of ownership. Know the differences between joint tenancy, tenancy in common, and community property, including the right of survivorship.
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- Personal property that becomes permanently attached to real property is called:Property Ownership
- A lien that is specific to a particular piece of real estate is called a:Property Ownership
- A deed that conveys 'all the grantor's right, title, and interest' without any warranty is a:Property Ownership
- An Alabama property owner who gives a neighbor permission to park in their driveway daily, without any formal agreement, has created a:Property Ownership
Key Terms to Know
A written legal instrument used to transfer ownership of real property from one party (grantor) to another (grantee).
EasementA non-possessory right to use another person's land for a specific purpose.
EncumbranceAny claim, lien, charge, or liability attached to real property that affects its value or limits its use.
LienA financial claim against a property that serves as security for a debt or obligation, giving the creditor the right to foreclose if unpaid.
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