Aceable agent Pre-licensing test review Questions With Solutions 100% Correct
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Course
Aceable Principles of Real Estate
Institution
Aceable Principles Of Real Estate
Aceable agent Pre-licensing test review
Questions With Solutions 100% Correct
Land - Can be described by its physical attributes and economic characteristics
- Can be altered by various forces of nature
Real estate ownership includes - Bundle of rights
- Or recognized inherit privileges that...
Aceable agent Pre-licensing test review
Questions With Solutions 100% Correct
Land - Can be described by its physical attributes and economic characteristics
- Can be altered by various forces of nature
Real estate ownership includes - Bundle of rights
- Or recognized inherit privileges that come with the land
recognized inherit privileges that come with the land include - Surface rights
- Subsurface rights
- Water rights
- Air rights
Appurtenances rights that can be sold individually and separately from land
Real estate Physical land, structures, and resources attached
Real property land plus bundle of rights
, Aceable agent Pre-licensing test review
Questions With Solutions 100% Correct
Estate Possesory interest in real property
Freehold estate Some degree of ownership
- the type of freehold estate indicates how they convey land
Leasehold estate - Land a tenant can use and occupy but doesn't own
- The grantor (landlord) has revisionary right to the estate
3 ways property is conveyed 1. Deed
2. Devise
3. Descent
3 ways properly can be held 1. Ownership in severalty (ONLY ONE OWNER)
2. Co-ownership
3. Trusts
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