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PA Real Estate Unit 1 - QUIZ
Terms in this set (12)
Which phrase BEST defines real estate?
Land and all things permanently affixed to it.
The term non homogeneity refers to?
The bundle of legal rights is included in the definition of...
The bundle of legal rights includes all of the following rights EXCEPT
Use the property for any purpose, legal or otherwise
Which of the following is a physical characteristic of real estate?
Which of the following would not be a consideration when determining whether an item is real property?
Cost of the item when purchased
Which of the following is NOT and economic characteristic of real estate?
Real property can be converted into personal property through?
The tenant of a single-family home install an awning over the buildings from windows to keep the sun away from some desiccant hanging plants. Which of the following is true and WHY?
The awning is considered a fixture because it has been affixed the the single family home and by law now becomes real property.
Which entity is generally responsible for creating the requirements for a real estate license?
Individual State law
The buyers have asked their real estate agent to help them determine the correct way to take title to their new home. In this situation, the real estate agent should?
Suggest that the buyers consult an attorney
What is the purpose of real estate license laws?
To protect the public from fraud, dishonesty and incompetence
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