Property OwnershipIntermediateAlaska Exam
In Alaska, personal property that has been permanently attached to real property and becomes part of it is known as a:
ATrade fixture
BChattel
CFixtureCorrect
DAppurtenance
Why Fixture Is Correct
Answer C: Fixture
A fixture is personal property that has been attached to real property in such a way that it becomes part of the real property. Examples include built-in appliances, light fixtures, and HVAC systems.
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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Key Terms to Know
Deed
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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