REAE 3325 Unit 1 Quiz Reviews with Correct Solutions
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Course
REAE 3325
Institution
REAE 3325
REAE 3325 Unit 1 Quiz Reviews with Correct Solutions
REAE 3325 Unit 1 Quiz Reviews with Correct Solutions
REAE 3325 Unit 1 Quiz Reviews with Correct Solutions
A common easement in gross is the right to __________. - ANSWER-lay a power line
Air rights are not considered real property. - ...
REAE 3325 Unit 1 Quiz Reviews with
Correct Solutions
A common easement in gross is the right to __________. - ANSWER-lay a power line
Air rights are not considered real property. - ANSWER-False
An "estate" is a real property interest that includes the right of exclusive possession. -
ANSWER-True
When determining fixture status, the dominant rule is: - ANSWER-The intention of the
parties.
An example of a common specific lien is: - ANSWER-A mechanic's lien.
A mortgage.
A property tax lien.
In an income proforma, subtracting Operating Expenses and any Capital Expenditures
from Effective Gross Income results in ______________. - ANSWER-Net Operating
Income
In the Sales Comparison Approach, if the subject has a better location than the
comparable, the appraiser would need to adjust the comparable value: - ANSWER-Up
A _____ is a special written contract for conveying a permanent interest in real property.
- ANSWER-deed
Which of the following is not a main covenant covenant commonly used in deeds? -
ANSWER-Covenant of Reasonable Value
In Texas, "marketable" is not a legally recognized description of title. Instead,
______________ is used. - ANSWER-indefeasible
An acre consists of __________ square feet. - ANSWER-43,560
A __________ deed makes no covenants or assertions about grantor's interest -
ANSWER-quitclaim
Highest and best use analysis is only necessary for a vacant piece of land with no
zoning requirements. - ANSWER-False
Which of the following is not a form of depreciation utilized in the Cost Approach? -
ANSWER-Accounting depreciation
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