Real Estate 306 Exam 1 Question with 100 % correct answers | Verified
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Course
Real Estate 306
Institution
Real Estate 306
developer's key objective - generate risk-adjusted returns that create value and are able to
manage risk
balance of land use - quiet enjoyment (private), eminent domain/takings/just compensation
(public purpose), rights of police power, due process
5th, 5th, 10th, 14th amendments
building code...
Real Estate 306 Exam 1
developer's key objective - generate risk-adjusted returns that create value and are able to
manage risk
balance of land use - quiet enjoyment (private), eminent domain/takings/just compensation
(public purpose), rights of police power, due process
5th, 5th, 10th, 14th amendments
building codes - older than zoning; fire, sanitation and injury
building shapes and sizes determined by - legally permissible, physically possible, market feasible
cash flow drivers - revenue
operating expenses
recurring capital expenditures
challenges of public use planning - limited experience where zoning had very limited function as it
was focused protecting single-family houses
components of total project costs - land purchase price
cost of construction (hard costs)
secondary cost (soft costs)
comprehensive plans - projected future population growth, requirements for water and waste
disposal, projected needs for public services (schools, parks and rec), projected demand for various land
uses (public, residential)
, condominium - sole ownership of unit or unit air rights and tenancy in common ownership of
common elements, found in condominium declaration
conveyance of real estate interests - real property is a complex bundle of rights
rights to land are enduring (rights today are because of transactions long ago)
land is a continuous surface (needs accurate property description)
cooperative - personal property (shares in a corporation and rights they convey) deemed to be
real estate
covenant against encumbrances - no encumbrances except as noted in deed (liens, easements)
bad side of partial taking - clear loss of economic value, purchased based on current zoning/rules
and rules chanvge ex-post
covenant of quiet enjoyment - no one with a better claim to title
covenant of seizin - grantor has good title and right to convey it
deed - special form of written contract used to convey a permanent interest in real property, must
be in writing upheld by a court
deed requirements - name of grantor and grantee
dated and signed
consideration
words of conveyance
delivery
receipt of delivery
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