Real Estate Appraisal Practice Exam

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Prepare for the Real Estate Appraisal Exam with tailored questions and explanations. Boost your knowledge and confidence to succeed in your appraisal exam!

Each practice test/flash card set has 50 randomly selected questions from a bank of over 500. You'll get a new set of questions each time!

Practice this question and more.

Property that is free-standing and not attached to real estate is called ______.

Real property
Commercial property
Personal property
Investment property

The correct answer is: Personal property

The term that refers to property that is free-standing and not attached to real estate is personal property. Personal property encompasses movable items that are not fixed to a particular piece of land or real estate, such as furniture, vehicles, and electronics. This distinction is important in real estate because it differentiates between real property, which includes land and anything permanently attached to it, and personal property, which can be easily transferred or relocated. Understanding this distinction helps in various situations, such as appraisals or property transactions, where it's crucial to identify what is included in the sale or valuation of real estate. Other types of properties mentioned, such as commercial property and investment property, refer to specific categories of real estate rather than personal items.