Exam (elaborations)
Real Estate Property Ownership questions with answers
- Course
- Institution
Real Estate Property Ownership questions with answers
[Show more]
Content preview
Real Estate Property OwnershipAppurtenant - correct answer ✔✔A right, privilege, or improvement belonging to, and passing with, the
land.
Opposite of erosion - correct answer ✔✔accretion
Rights in real property that are held for less than a lifetime are called - correct answer ✔✔Personal
Property
Real Property is held - correct answer ✔✔for a lifetime or longer
The rights of a tenant under a lease of real property are classified as - correct answer ✔✔personal
property
Feudal System - correct answer ✔✔the system where individuals can own land for their own lifetime but
cannot pass it on to heirs
Allodial System - correct answer ✔✔the system where individuals can own land for their own lifetime as
well as pass it on to heirs
Estate in land - correct answer ✔✔the degree, quantity, nature and extent of one's interest in land
Two types of Estates in Land - correct answer ✔✔Freehold, less than freehold
Freehold - correct answer ✔✔"ownership" interest in property
held for a lifetime or longer
Estate Less than Freehold - correct answer ✔✔"Rental" interest in property
, held for less than a lifetime
"Personal Property"
An individuals rights in land are limited by the rights of - correct answer ✔✔the government
Eminent Domain - correct answer ✔✔the gov't's right to take land for the public good
Condemnation - correct answer ✔✔the process used to acquire property under the right of eminent
domain
Police Power - correct answer ✔✔the right of the govt to make reasonable rules for the use of land
Escheat - correct answer ✔✔the right of the state to assume ownership of property when the owner
dies without a valid will or heirs or when abandoned
Property - correct answer ✔✔The "rights of ownership"
Rights of Ownership - correct answer ✔✔Use, possess, enjoy and dispose
Real Property - correct answer ✔✔Land, all that is permanently attached to it, and the legal rights assoc
with it, is collectively referred to as Real Property
An item of personal property may become a fixture by - correct answer ✔✔attachment
adaptation
agreement
Trade Fixture - correct answer ✔✔Considered personal property
Real property is conveyed by means of a - correct answer ✔✔deed
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 Sakayobako30. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $12.99. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
75323 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now