Describe leasehold estate Study guides, Class notes & Summaries
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BLAW211 Study Test Questions and Correct Answers
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BLAW211 Study Test Questions and Correct Answers 
 
Describe Leasehold Estate - Answer-Leasehold estate refers to the exclusive right of a tenant to occupy a property for a period of time. 
-	written lease agreement between the owner and the tenant 
 
The Three categories of leasehold estate - Answer-1. Tenancy for a term of years 
-	a lease for a period of time with specific start & end date 
 
2.	Periodic tenancy 
-	a lease which is automatically renewed at the end of the period (year to year,...
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Maine Real Estate Final questions with verified solutions 2023/2024
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Maine Real Estate FinalAn adequate legal description of real estate is one: - by which a reasonable person can determine what property is described - the legal description is legally "adequate" if a reasonable person could identify the property based on the description. 
 
Ownership of real estate includes: 
a.) Rights to use the surface, subsurface and airspace over the land 
b.) Fixtures 
c.) Naturally growing tree growing on the land 
d.) All of the above - D.) All of the above 
 
Subsurfa...
![Humber Real Estate - Course 3, Module 1, Introducing Residential Condominiums Questions & Answers(rated A+)](/docpics/3950147/656b8d8815820_3950147_121_171.jpeg)
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Humber Real Estate - Course 3, Module 1, Introducing Residential Condominiums Questions & Answers(rated A+)
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Humber Real Estate - Course 3, Module 1, Introducing Residential Condominiums Questions & Answers(rated A+) 
 
 
Title - ANSWER-Condominium owners hold ______ to their private living space (unit) and share ownership jointly of the common areas (common elements) with other owners in the condominium corporation. 
 
A legal entity that represents the collective interests of its property owners. - ANSWER-What is the definition of a 'Condominium Corporation'? 
 
The condominium board - ANSWER-Who e...
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Maine Real Estate Final Exams 2024
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An adequate legal description of real estate is one: - by which a reasonable person can determine what property is described - the legal description is legally "adequate" if a reasonable person could identify the property based on the description. 
 
Ownership of real estate includes: 
a.) Rights to use the surface, subsurface and airspace over the land 
b.) Fixtures 
c.) Naturally growing tree growing on the land 
d.) All of the above - D.) All of the above 
 
Subsurface rights in real estat...
![Humber Real Estate - Course 3, Module 1, Introducing Residential Condominiums Verified Solutions](/docpics/5208692/6638fce30e779_5208692_121_171.jpeg)
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Humber Real Estate - Course 3, Module 1, Introducing Residential Condominiums Verified Solutions
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Humber Real Estate - Course 3, Module 1, Introducing Residential 
Condominiums Verified Solutions 
Title ️Condominium owners hold ______ to their private living space (unit) and share ownership 
jointly of the common areas (common elements) with other owners in the condominium corporation. 
A legal entity that represents the collective interests of its property owners. ️What is the definition of 
a 'Condominium Corporation'? 
The condominium board ️Who establishes the rules and byl...
![Maine Real Estate Final verified to pass 2023/2024](/docpics/3796378/654bd0aa02d7b_3796378_121_171.jpeg)
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Maine Real Estate Final verified to pass 2023/2024
- Exam (elaborations) • 45 pages • 2023
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Maine Real Estate FinalAn adequate legal description of real estate is one: - by which a reasonable person can determine what property is described - the legal description is legally "adequate" if a reasonable person could identify the property based on the description. 
 
Ownership of real estate includes: 
a.) Rights to use the surface, subsurface and airspace over the land 
b.) Fixtures 
c.) Naturally growing tree growing on the land 
d.) All of the above - D.) All of the above 
 
Subsurfa...
![Maine Real Estate Study Practice Test 2024.](/docpics/5270738/663fe118943c8_5270738_121_171.jpeg)
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Maine Real Estate Study Practice Test 2024.
- Exam (elaborations) • 45 pages • 2024
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Maine Real Estate Study Practice Test 2024. 
An adequate legal description of real estate is one: - by which a reasonable person can determine what property is described - the legal description is legally "adequate" if a reasonable person could identify the property based on the description. 
 
Ownership of real estate includes: 
a.) Rights to use the surface, subsurface and airspace over the land 
b.) Fixtures 
c.) Naturally growing tree growing on the land 
d.) All of the above - D.) All of...
![MIE 305 EXAM 3 WITH 100% CORRECT ANSWERS ALREADY GRADED A+](/docpics/4893220/660b3939a5bca_4893220_121_171.jpeg)
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MIE 305 EXAM 3 WITH 100% CORRECT ANSWERS ALREADY GRADED A+
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CHAPTER 10 
 
 
Bundle of Rights 
sticks metaphor 
 
owner = entire bundle of sticks 
 
renter = only a few sticks 
 
possession, use, control, exclusion, transfer 
 
 
 
Brainpower 
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Property Rights 
the legal rights that a person has over a piece of real property 
 
 
Real Property 
The legal interests in land and things attached to or growing on land 
 
ex: part of the earth’s surface, buildings, fences, and trees 
 
used to describe the legal rights that a person can have in real...
![Humber Real Estate - Course 3, Module 1, Introducing Residential Condominiums exam 173 questions and answers.docx](/docpics/3550697/651c34725981d_3550697_121_171.jpeg)
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Humber Real Estate - Course 3, Module 1, Introducing Residential Condominiums exam 173 questions and answers.docx
- Exam (elaborations) • 35 pages • 2023
- Available in package deal
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- $14.99
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Title 
Condominium owners hold ______ to their private living space (unit) and share ownership jointly of the common areas (common elements) with other owners in the condominium corporation. 
 
 
 
A legal entity that represents the collective interests of its property owners. 
What is the definition of a 'Condominium Corporation'? 
 
 
 
The condominium board 
Who establishes the rules and bylaws in a condominium? 
 
 
 
To secure the assets of the corporation and ensure residents live harmon...
![Humber Real Estate - Course 3, Module 1, Introducing Residential Condominiums |179 questions and answers 2023.docx](/docpics/3550959/651c3ca3bb14c_3550959_121_171.jpeg)
-
Humber Real Estate - Course 3, Module 1, Introducing Residential Condominiums |179 questions and answers 2023.docx
- Exam (elaborations) • 35 pages • 2023
- Available in package deal
-
- $14.99
- + learn more
Title 
Condominium owners hold ______ to their private living space (unit) and share ownership jointly of the common areas (common elements) with other owners in the condominium corporation. 
 
 
 
A legal entity that represents the collective interests of its property owners. 
What is the definition of a 'Condominium Corporation'? 
 
 
 
The condominium board 
Who establishes the rules and bylaws in a condominium? 
 
 
 
To secure the assets of the corporation and ensure residents live harmon...
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