Texas Real Estate Exam: Texas Real
Estate Exam Study Guide
Police Power (Ans- Government right to regulate and control the character and use of property for the health, safety and general welfare of the public
Zoning (Ans- Local laws to control land use
Non-conforming use (Ans- A permissible use under former rules that is now prohibited - automatically granted when zoning regulations change
Variance (Ans- Permission to violate current regulations - obtained by a hearing
Buffer zone (Ans- An area of land separating one land use from another incompatible use such as residential from commercial
Building codes (Ans- Regulations regarding specific construction requirements- plumbing, electrical, etc.
EIS (Ans- Environmental impact statement- a study done to determine the effect of a proposed project on a community
Eminent domain (Ans- The right of government to take private property for public use
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Condemnation (Ans- The action of the government I taking private property under the right of eminent domain
Inverse condemnation (Ans- The action of an individual trying to force the government to buy his property
Taxation (Ans- The right of government to tax real property
Ad valorem (Ans- According to value- real property taxes are ad valorem taxes
Assessed value (Ans- Property value for tax purposes- (tax rate*assessed value= tax)
Special Assessment (Ans- A tax levied against only those property owners who benefit from a government improvement such as curbs or sidewalks
Municipal improvement district (Ans- An area within a municipality that is taxed for a specific improvement- unlike a special assessment, property owners were permitted to vote for the improvement district to be created
Escheat (Ans- The right of the government to take real property if an owner dies without a will and with no heirs or no kindred
Riparian rights (Ans- The right to use water from a river or stream that borders a property
Littoral rights (Ans- The right to use water from a lake or ocean that borders a property 2 / 4
C, C & R's (Ans- Deed covenants, conditions and restrictions are private controls of land use, development, methods and materials for construction, including style and appearance requirements in some cases
Injunction (Ans- A court order to cease, stop, or refrain from acting- can be used to enforce c,c &r's
Real Property (Ans- Land, improvements attached to the land, and the rights to use them
Personal Property (Ans- Anything not classed as real property, a right or interest in things of a temporary or moveable nature
Chattel (Ans- Personal property
Personality (Ans- Personal property
Fixture (Ans- Personal property that has been installed or attached to become real property
Annexation (Ans- The process of attaching personal property so that it becomes real property thus creating a fixture
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Severance (Ans- Real property becomes personal property when it is "severed" from the land. Uninstall, unattach
Trade Fixture (Ans- Personal property installed on leased property for the purpose of the tenants occupation or profession
Physical Charateristic of Land (Ans- Nonhomogeneity, immobility, indestructibility
Nonhomogeniety (Ans- A physical characteristic of land stating no two pieces are exactly alike
Immobility (Ans- A physical characteristic of land stating that land cannot be moved- an owner must go to the land
Indestructibility (Ans- A physical characteristic of land stating that the land will always be there- it is durable
Economic Characteristics of Land (Ans- Scarcity, modification, fixity and situs
Scarcity (Ans- An economic characteristic of land stating that a short supply where demand is great will cause an increase in value- usually based on geography
Modification (Ans- An economic characteristic of land stating that improvements made by man will alter the value of the land and surrounding properties
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