The MARIA test for fixtures in North Carolina evaluates:
Why Method of attachment, Adaptability, Relationship of parties, Intention, Agreement Is Correct
Answer B: Method of attachment, Adaptability, Relationship of parties, Intention, Agreement
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.
Key Property Ownership Terms in This Question
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Related North Carolina Questions
- In North Carolina, the deed of trust is used instead of a mortgage. The deed of trust involves how many parties?Escrow & Title
- A 'fixture' in NC real estate is personal property that has become real property by being permanently attached to the land or building. To determine if an item is a fixture, courts look at all EXCEPT:Property Ownership
- Which document in North Carolina establishes the seller's agency relationship and authorizes the broker to market the property?Agency
- A North Carolina broker who provides services to a buyer without a written buyer agency agreement is acting as:Agency
- In North Carolina, which contract form is most commonly used for residential real estate transactions?Contracts
- Under a North Carolina listing agreement, the broker earns a commission when:Contracts
- A deed of dedication in North Carolina is most commonly used to:Land Use & Zoning
- The agency relationship between a listing broker and seller in North Carolina is created by:Agency
Key Terms to Know
A professional estimate of a property's market value prepared by a licensed or certified appraiser.
Listing AgreementA contract between a property owner and a real estate broker that authorizes the broker to market and sell the property.
Loan-to-Value Ratio (LTV)The ratio of a mortgage loan amount to the appraised value or purchase price of a property, expressed as a percentage.
Private Mortgage Insurance (PMI)Insurance required by lenders on conventional loans with less than 20% down payment, protecting the lender — not the borrower — against default.
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