PSI Real Estate Test MA - State Portion Only Already Graded A

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PSI Real Estate Test MA - State Portion Only Already Graded A A farmer temporarily installs produce coolers in a leased farm stand in order to prevent spoilage. The coolers would be considered whic... h of the following? ✔✔Trade fixtures that are personal property Property can be converted from real to personal property and from personal to real property by means of which processes, respectively? ✔✔Severance and affixing The highest form of ownership interest one can acquire in real estate is the... ✔✔Absolute fee simple estate The distinguishing feature of a defeasible fee simple estate is the... ✔✔The estate may revert to a grantor or heirs of the prescribed usage changes Maria acquires a property from her uncle Alfonso. When Maria dies, the estate will pass to Alfonsos other niece, Serena. The type of estate that Maria has in the property is a ✔✔Conventional life estate One difference between a cooperative estate and a condominium estate is that ✔✔A condominium owner owns a unit of air space whereas the coop owner owns a proprietary lease Who are the essential parties involved in an estate in trust? ✔✔Trustor, trustee, and beneficiary A condominium owner enjoys... ✔✔Fee simple ownership of the airspace in a unit and an undivided share of the entire property's common areas With various types of junior liens, the order of payment pri [Show More]

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