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Aceable agent Pre-licensing test review 2024 questions and answers -graded a
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Aceable agent Pre-licensing test review
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Aceable agent Pre-licensing test reviewLand - Answer- - Can be described by its physical attributes and economic characteristics - Can be altered by various forces of nature
Real estate ownership includes - Answer- - Bundle of rights - Or recognized inherit privileges that come with the land
recognized inherit privileges that come with the land include - Answer- - Surface rights
- Subsurface rights
- Water rights
- Air rights
Appurtenances - Answer- rights that can be sold individually and separately from land
Real estate - Answer- Physical land, structures, and resources attached
Real property - Answer- land plus bundle of rights
Estate - Answer- Possesory interest in real property
Freehold estate - Answer- Some degree of ownership - the type of freehold estate indicates how they convey land
Leasehold estate - Answer- - 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 - Answer- 1. Deed
2. Devise
3. Descent
3 ways properly can be held - Answer- 1. Ownership in severalty (ONLY ONE OWNER)
2. Co-ownership
3. Trusts
Co-ownershio - Answer- - A form of ownership where two or more individuals share a title
- And an undivided interest in real property
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