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Real Estate 306 Exam 1 Terms | Questions And Answers Latest {} A+ Graded | 100% Verified
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Real Estate 306 Exam 1 Terms | Questions And Answers Latest {} A+ Graded | 100% Verified
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Real Estate 306 Exam 1 Terms | Questions And Answers Latest {2024- 2025}A+ Graded | 100% Verified
Real estate has 3 definitions - physical asset, rights from owning a property, the industry itself
Physical asset definition - the land and all permanent attachments to the land, with tangible vs.
intangible assets
Difference between real property and personal property? - Real property is pretty permanent. Personal
property can be easily removed without leaving any marks/damages
Physical rights include... - underground rights (mineral, oil, and gas), surface rights, private air rights, and
fly-over rights (public)
Owning real estate gives you a certain bundle of rights, like... - right to use/occupy enter, sell, lease, give
away
Fee simple estate - implies absolute ownership (all the sticks in the bundle of rights) but limited by
taxation, eminent domain, police powers, escheat
leased fee interest - landlord's right
leasehold interest - tenant's right
real estate generates over 25% of U.S. GDP - housing alone accounts for almost 20%
generates nearly 70% of local government revenue through... - property tax
creates jobs for nearly - 9 million Americans
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