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Real Estate 306 Midterm 1 Exam | Questions And Answers Latest {} A+ Graded | 100% Verified
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Real Estate 306 Midterm 1 Exam | Questions And Answers Latest {2024- 2025} A+ Graded | 100% Verified
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Real Estate 306 Midterm 1 Exam | Questions And Answers Latest {2024-2025} A+ Graded | 100% Verified
Property - Anything that can be owned or possessed
Tangible Assets - Physical things, such as automobiles, clothing, land, or buildings
Intangible assets - Nonphysical and include contractual rights (mortgage and lease agreements),
financial claims, interests, patents, or trademarks
Real Estate - The land and its permanent improvements
Improvements on the land - Any fixed structures such as buildings, fences, walls, and decks
Improvements to the land - The components necessary to make the land suitable for building
construction or other uses
Land - Earth + improvements to the land
Raw Land - Larger area that does not include any improvements
Real Property - Same as real estate
Personal Property - Things that are movable and not permanently affixed to the land
Acre - 43,560 ft / 206 square ft / 640 acres in 1 square mile
User Markets - Characterized by competition amongst users for physical locations and space
, Capital Markets - Allocate financial resources among households and firms requiring funds (Equity
Interests / Debt Interests)
Property Markets - Determine the required property-specific investment returns, property values,
capitalization rates, and construction feasibility
Capitalization Rate - Ratio of a property's annual net income to its value
Investment-grade properties - More valuable commercialized properties, generally well over $10 million
Personal Rights - (Personal freedoms) from Constitution / Bill of Rights
Property Rights - Rights to things both tangible and intangible (Possession, Use, Disposition)
Real Property - Rights in land and its permanent structures
Personal Property - Rights in any other kind of object, including intellectual rights
Interests - Name for bundles of rights
Estates - Interests in real property that include possession (Complete bundle called Fee Simple Absolute)
Freeholds - Titled interests we commonly think of as ownership
Fee Simple Absolute - Most complete bundle of rights possible, has greatest value
Fee Simple Conditional - Ownership is subject to a condition or trigger event
Reverter (Interest) - Uncertain interest held by the previous owner (or heirs)
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