Explain how the “bundle of rights” is a part of Real Estate Ownership? Where is the origination of Common Law? Describe the Principle of Stare Decisis?
Describe the basic difference between Mediation and Arbitration?
Why is the Statute of Frauds important to the Real Estate profession?
What is the difference between Real Property and Personal Property? How could the misunderstanding of this concept become a serious issue in a Real Estate transaction?
What are the three classes or elements of Real Property? What does the term Riparian Rights mean?
List the 5 tests of whether personal property has become a fixture? (hint MARIA)
What is an easement? What is it called when an easement is obtained against the consent of the landowner? What type of easement can be created by two adjacent landowners where one of them is “landlocked” by the other landowner?

1. An easement is the right given to a person by law to utilize a particular part of another person's land.

2. When an easement is obtained against the consent of the landowner it is known as Prescriptive easement.

3. An easement that is created by two adjacent landowners where one is landlocked by the other landowner is called Easement appurtenant.

Explanation:

An easement is the lawful right of a person to use another person's property. Ingress, egress, and drainage are common reasons why an easement might be needed. When a piece of land does not have access to a roadway, then an easement might be required.

Prescriptive easement occurs when a land has been used by another person who is not the legal owner for up to twenty years without the consent/knowledge of the original owner of the land.

Easement appurtenant occurs for example when a person cannot access his own land with passing through another person's land. An easement by necessity can be created in such situations to solve the problem.

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