Real Estate 306 Exam 1; Questions and Answers 100% Correct
9 views 0 purchase
Course
Real Estate 306
Institution
Real Estate 306
Real Estate 306 Exam 1; Questions and
Answers 100% Correct
property Correct answer-refers to anything that can be owned or possessed
Land Correct answer-may include more than the earth, may also include improvements
to the land
Raw land Correct answer-large land area with no improvements
pe...
Real Estate 306 Exam 1; Questions and
Answers 100% Correct
property Correct answer-refers to anything that can be owned or possessed
Land Correct answer-may include more than the earth, may also include improvements
to the land
Raw land Correct answer-large land area with no improvements
personal property Correct answer-things that are movable & not permanently affixed to
the land
Ownership rights Correct answer-Real estate provides people with this "bundle of rights"
- Rights to:
Use/Occupy
Sell
Lease
Give away
Do all or none
"real property" vs. real estate
security
privacy
location
, Real Estate 306 Exam 1; Questions and
Answers 100% Correct
User markets Correct answer-characterized by competition among users for physical
locations and space
CApital markets Correct answer-Serve to allocate financial resources among households
& firms requiring funds
Property markets Correct answer-Determine the required property-specific investment
returns, property values, capitalization rates & construction feasibility
Capitalization rate Correct answer-The ratio of a property's annual net income to its value
- fundamental measure used in Real estate
Capitalization rate equation Correct answer-= Net operating income Yr. 1 / total value of
property
Fee simple estate Correct answer-- Implies absolute ownership (all sticks in the bundle)
limited by taxation, eminent domain, police powers, escheat
Easements Correct answer-Right to use land for specific/ limited purpose
appurtenant: Correct answer-dominant - benefits from easement
, Real Estate 306 Exam 1; Questions and
Answers 100% Correct
servient - constrained/limited by easement
Affirmative easement: Correct answer-Gives dominant parcel some intrusive use of
servient parcel
- driveway or access right of way
- Sewer line
- Drainage
- Common Wall
Negative easement: Correct answer-allows no instrusion onto servient parcel
- Light & air easement
- Scenic easement
In gross easement: Correct answer-Right to use land unrelated to parcels, only servient,
no dominant involved
- lay pipeline, powerline
- run irrigation ditch
- billboard
- harvest timber
* transferrable from land title *
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller GOLDTUTORS. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $13.49. You're not tied to anything after your purchase.
