California Real Estate Salesperson Exam Practice – Quesiton 4

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Question

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All of the following are personal property except:

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Selections

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A. Trade fixtures

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B. Easements

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C. Mortgages

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D. Trust deeds

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Answer: B

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5 Keys Summary

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1. Easements are defined as a right to use another person’s land for a specific, limited purpose, and are fundamentally considered an interest in real property rather than personal property.

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2. An easement is classified as a non-possessory encumbrance on the property that typically runs with the land as an appurtenance and burdens the title.

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3. Trade fixtures are considered personal property because they are movable articles attached by a commercial tenant for business use and are intended to be removed at the end of the lease term.

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4. Mortgages and Trust Deeds are security instruments that secure a loan (the promissory note), and the financial obligation or asset they represent is classified as a form of personal property.

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5. All property is categorized as either real property (fixed and immovable) or personal property (chattel or movable), and any rights relating to the long-term use of the land itself, like an easement, are part of the real property rights bundle.

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