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Study sets matching "real estate fundamentals"

100 terms
Real estate fundamentals
land
real estate
real property
subsurface rights
is the earth's surface extending downward to the center of th…
land at, above, and below the earth's surface, and all things…
the physical land or real estate plus the interests, benefits…
the rights to the natural resources lying below the earth's s…
land
is the earth's surface extending downward to the center of th…
real estate
land at, above, and below the earth's surface, and all things…
100 terms
Real estate fundamentals
land
real estate
real property
subsurface rights
is the earth's surface extending downward to the center of th…
land at, above, and below the earth's surface, and all things…
the physical land or real estate plus the interests, benefits…
the rights to the natural resources lying below the earth's s…
land
is the earth's surface extending downward to the center of th…
real estate
land at, above, and below the earth's surface, and all things…
76 terms
Fundamentals of real estate vocabulary
Accession
Air rights
Annexation
Appurtenance
Acquiring title to additions or improvements to real property…
The right to use an open space above a property, generally al…
Process of converting personal property into real property
Right, privilege, or improvement belonging to, and passing wi…
Accession
Acquiring title to additions or improvements to real property…
Air rights
The right to use an open space above a property, generally al…
58 terms
Fundamentals of Real Estate
What is most accurately describes pers…
Which in not corporeal property... Buildi…
Which of the following is not realty... F…
Real estate is defined as
Chattel
Leasehold
Lumber
Land and all permanent attachments
What is most accurately describes pers…
Chattel
Which in not corporeal property... Buildi…
Leasehold
100 terms
Real estate fundamentals
land
real estate
real property
subsurface rights
is the earth's surface extending downward to the center of th…
land at, above, and below the earth's surface, and all things…
the physical land or real estate plus the interests, benefits…
the rights to the natural resources lying below the earth's s…
land
is the earth's surface extending downward to the center of th…
real estate
land at, above, and below the earth's surface, and all things…
121 terms
FUNDAMENTALS OF REAL ESTATE SERVICE
RA 9646
PRBRES
Professional Regulatory Board of Real…
Implementing Rules and Regulation
Real Estate Service Act of the Philippines
Who created the law that regulates the practice of real estat…
PRBRES
Shall be interpreted, construed, and carried out in accordanc…
RA 9646
Real Estate Service Act of the Philippines
PRBRES
Who created the law that regulates the practice of real estat…
63 terms
Real Estate Fundamentals
Loan-to-Value Ratio on a mortgage will…
Specific v. General Liens
Lien theory of mortgages means the mor…
Statutory right of redemption of a rea…
99% of the time, the value of the collateral property is dete…
A specific lien is a lien that is on a single property. A gen…
Title theory allows title to the mortgagee/lender. Lien theor…
Each State has its statutory time limit. It is usually AFTER…
Loan-to-Value Ratio on a mortgage will…
99% of the time, the value of the collateral property is dete…
Specific v. General Liens
A specific lien is a lien that is on a single property. A gen…
49 terms
Fundamentals of Real Estate Law
Property
Real Property
Personal Property
Real Estate
legal rights to use and enjoy any things
realty // property rights to real estate
Personalty // property rights to everything else other than r…
"land and everything permanently attached to it"
Property
legal rights to use and enjoy any things
Real Property
realty // property rights to real estate
15 terms
Fundamentals of Real Estate Law
Adverse possession
Annexation
Chattels
Color of title
Allows a person who uses another's property to gain ownership…
Is the manner of attachment of personal property to real esta…
items of personal property, including auto, clothing, and mov…
is what appears to be a good title but is not
Adverse possession
Allows a person who uses another's property to gain ownership…
Annexation
Is the manner of attachment of personal property to real esta…
16 terms
Real estate fundamentals
Four characteristics of real estate
Scarcity
Fixtures
Trade fixtures or ... Chattel fixtures
-Scarcity,... -improvements,... -permanence of in... -vestment,... -lo…
The availability of land in a given location or of a particul…
Is personal property that has been so affixed to the land or…
A article owned by a tenant and attached to a rent space or b…
Four characteristics of real estate
-Scarcity,... -improvements,... -permanence of in... -vestment,... -lo…
Scarcity
The availability of land in a given location or of a particul…
182 terms
Real Estate Fundamentals
appurtenance
appurtenant easement
assignment
attachment
a right, privilege, or improvement belonging to; "runs with t…
an easement that is annexed to the ownership of one parcel an…
the transfer in writing of interest in a bond, mortgage, leas…
the act of taking a person's property into legal custody by w…
appurtenance
a right, privilege, or improvement belonging to; "runs with t…
appurtenant easement
an easement that is annexed to the ownership of one parcel an…
100 terms
Real Estate Fundamentals
WHAT ARE THE BASIC RIGHTS OF REAL PROP…
REMAINDERMAN
WHAT ARE THE PHYSICAL CHARACTERISTICS…
WHAT ARE THE CHARACTERISTICS OF A BILA…
The right to...... Occupy... Use... Allow Others to Use... Rent... Restrict…
The designated future real property owner in a life estate.
Different (All parcels of land are different)... Indestructible…
A contract description that describes a contract in which 2 p…
WHAT ARE THE BASIC RIGHTS OF REAL PROP…
The right to...... Occupy... Use... Allow Others to Use... Rent... Restrict…
REMAINDERMAN
The designated future real property owner in a life estate.
290 terms
Real Estate Fundamentals (PA)
Accession
Accretion
Acre
Annexation
The acquisition of title to land by its addition to real esta…
A gradual addition to dry land by the forces of nature, as wh…
A measure of land area that is equal to 43,560 square feet. O…
Attaching personal property to land so that the law views it…
Accession
The acquisition of title to land by its addition to real esta…
Accretion
A gradual addition to dry land by the forces of nature, as wh…
295 terms
Real Estate Fundamentals - Vocab
real property
personal property
appurtenance
emblements
land, attachments, and appurtenances
anything that is not real property; its main characteristic i…
a right incidental to the land that is transferred with it
crops, such as wheat, produced annually through the labor of…
real property
land, attachments, and appurtenances
personal property
anything that is not real property; its main characteristic i…
100 terms
Real estate fundamentals
land
real estate
real property
subsurface rights
is the earth's surface extending downward to the center of th…
land at, above, and below the earth's surface, and all things…
the physical land or real estate plus the interests, benefits…
the rights to the natural resources lying below the earth's s…
land
is the earth's surface extending downward to the center of th…
real estate
land at, above, and below the earth's surface, and all things…
37 terms
Real Estate Fundamentals Final
Which of the following is an example o…
Based on your understanding of the rul…
Which of the following types of owners…
Non-possessory interests in real estat…
Mortgage- Intangible assets are nonphysical and include contr…
Custom (built-in) bookshelves
Fee Simple Absolute
Leasehold interests - possessory interest... ... Non-possessory:…
Which of the following is an example o…
Mortgage- Intangible assets are nonphysical and include contr…
Based on your understanding of the rul…
Custom (built-in) bookshelves
74 terms
Real Estate Fundamentals
Which is NOT a method the federal gove…
The term "real estate" is used in thre…
Which of the following statements defi…
What two elements are involved in ever…
through zoning regulations.
to identify all types of property.
All of these statements are correct.
Initial cost and value of future benefit.
Which is NOT a method the federal gove…
through zoning regulations.
The term "real estate" is used in thre…
to identify all types of property.
100 terms
Real estate fundamentals
land
real estate
real property
subsurface rights
is the earth's surface extending downward to the center of th…
land at, above, and below the earth's surface, and all things…
the physical land or real estate plus the interests, benefits…
the rights to the natural resources lying below the earth's s…
land
is the earth's surface extending downward to the center of th…
real estate
land at, above, and below the earth's surface, and all things…
93 terms
Real Estate Fundamentals Exam Practice
1. What is not a basic rights of real…
2. Remainderman definition (The questi…
3. What is an example of a physical ch…
6. Easement definition
The right of adverse possession.
The designated future real property owner in a life estate.
Fixed Location
The right to use land owned by another person.
1. What is not a basic rights of real…
The right of adverse possession.
2. Remainderman definition (The questi…
The designated future real property owner in a life estate.
100 terms
Real estate fundamentals
land
real estate
real property
subsurface rights
is the earth's surface extending downward to the center of th…
land at, above, and below the earth's surface, and all things…
the physical land or real estate plus the interests, benefits…
the rights to the natural resources lying below the earth's s…
land
is the earth's surface extending downward to the center of th…
real estate
land at, above, and below the earth's surface, and all things…
19 terms
Fundamentals of Real Estate Law
Adverse possession
Annexation
Color of title
Constructive notice
Allows a person who uses another's property to gain ownership…
The manner of attachment of personal property to real estate
Appears to be good title but is not
An instrument, such as a deed, is recorded in the county cour…
Adverse possession
Allows a person who uses another's property to gain ownership…
Annexation
The manner of attachment of personal property to real estate
100 terms
Real estate fundamentals
land
real estate
real property
subsurface rights
is the earth's surface extending downward to the center of th…
land at, above, and below the earth's surface, and all things…
the physical land or real estate plus the interests, benefits…
the rights to the natural resources lying below the earth's s…
land
is the earth's surface extending downward to the center of th…
real estate
land at, above, and below the earth's surface, and all things…
81 terms
real estate fundamentals
appurtenances
levels of ownership
polluter pays act PPA
characteristics of real estate
right or improvement that belongs to the land but not attached
surface rights, subsurface rights
if you own land you must clean it if polluted unless can find…
Immobility- can not be moved state to state... Indestructable- a…
appurtenances
right or improvement that belongs to the land but not attached
levels of ownership
surface rights, subsurface rights
29 terms
Real estate fundamentals
Land
Improvements
Fixture
Leasehold improvements
Unimproved raw land extending downward from the earth's surfa…
Anything that has been artificially attached to the land incl…
Personal property that has been permanently attached to the l…
Pictures that have been installed by a landlord for the tenan…
Land
Unimproved raw land extending downward from the earth's surfa…
Improvements
Anything that has been artificially attached to the land incl…
53 terms
real estate fundamentals #2
primary financial market
secondary market
freddy mac
fannie mae
where debt is created
transfer of debt, buying and selling of loans
federal home loan corporation
federal association that holds loan
primary financial market
where debt is created
secondary market
transfer of debt, buying and selling of loans
22 terms
Real Estate Fundamentals
Acre
Appurtenance
Assessor's parcel number
base line
43,560 Sq feet
a right or privilege or improvement that passes with land
a numbering system to aid in the assessment of property for t…
a survey line running east and west from which townships are…
Acre
43,560 Sq feet
Appurtenance
a right or privilege or improvement that passes with land
55 terms
PA Real Estate Fundamentals
A clause in a mortgage that declares t…
The phrase "bundle of rights" is inclu…
Mine subsidence refers to what type of…
Know the definition of dedication
Acceleration Clause
Real Property
Subsurface Rights
Voluntary transfer of private property by its owner to the pu…
A clause in a mortgage that declares t…
Acceleration Clause
The phrase "bundle of rights" is inclu…
Real Property
Real Estate Fundamentals Midterm
Characteristics of Real Estate
Why is Real Estate Different?
Eminent Doman/Takings
2 Big Reasons Home Ownership is Differ…
Fixed in location, bundle of rights, tax benefits, uncertaint…
Real estate is fixed in location so differs from other types…
Concept of some form of government being able to come in and…
1. Unique Real Estate Institutions: State comes in and sets r…
Characteristics of Real Estate
Fixed in location, bundle of rights, tax benefits, uncertaint…
Why is Real Estate Different?
Real estate is fixed in location so differs from other types…
45 terms
Real Estate Fundamentals Midterm
User Market
Capital Markets
Property Market
Leases
Creates demand for space and how it's used... Establishes compet…
Provides flow of funds to buy, improve, and build property... Pr…
Investment returns, property values and impacts flow of funds…
Contract between landlord and tenant... Creates income stream fo…
User Market
Creates demand for space and how it's used... Establishes compet…
Capital Markets
Provides flow of funds to buy, improve, and build property... Pr…
221 terms
Real Estate - Fundamentals
Chapter 1
Land
Real Estate
Real Property
...
The earth's surface extending down to the center of the earth…
Land above and below earth's surface and all things permanent…
Includes both land and Real Estate. It is the interests, bene…
Chapter 1
...
Land
The earth's surface extending down to the center of the earth…
88 terms
Real Estate Fundamentals
User/space markets
Capital markets
Tangible property
Intangible property
-Market where people sell the physical right to enter and use…
-Market for investments/profit, not for rights... -bidding by in…
-physical assets that can be owned ... -can be real or personal…
-non-physical assets like stocks, bonds, leases, etc. ... -can b…
User/space markets
-Market where people sell the physical right to enter and use…
Capital markets
-Market for investments/profit, not for rights... -bidding by in…
6 terms
Washington Real Estate Fundamentals
listing contract
Contract for sale
Real Estate
Real property
A contract wherein a property owner employs a Real Estate fir…
a binding contract results from the written acceptance of a w…
the term "real estate" refers to the land and all improvement…
Real estate plus all legal rights, powers and privileges inhe…
listing contract
A contract wherein a property owner employs a Real Estate fir…
Contract for sale
a binding contract results from the written acceptance of a w…
13 terms
Real Estate Fundamentals
property
Real Property/Realty
Personal Property/Personalty
Real Estate
The LEGAL RIGHTS to use and enjoy any thing
Property rights to Real Estate
Property Rights to Everything else besides real estate
Land and everything permanently attached to it (i.e. Anything…
property
The LEGAL RIGHTS to use and enjoy any thing
Real Property/Realty
Property rights to Real Estate
40 terms
Real estate Fundamentals
Continuing Education
Brokers License
Associate Brokers License
Principal associate broker
No less that 18 hours over 3yr period, minimum 2 hrs a year
Required o enter into contracts with customers... only 1 per com…
Can only be issued to a person... Performs the same activities a…
Issued to a person who is an owner/partner/officer or member…
Continuing Education
No less that 18 hours over 3yr period, minimum 2 hrs a year
Brokers License
Required o enter into contracts with customers... only 1 per com…
77 terms
Real Estate Fundamentals
what are the basic rights of real prop…
remaindermen
physical characteristics of land
what are the characteristics of a bila…
these are called the bundle of rights. ... 1)right to occupy ... 2)…
can be defined as a future interest holder in a life estate w…
-all parcels are different... -land is essentially indestructibl…
an agreement between two parties in which both parties make p…
what are the basic rights of real prop…
these are called the bundle of rights. ... 1)right to occupy ... 2)…
remaindermen
can be defined as a future interest holder in a life estate w…
37 terms
Real Estate Fundamentals
Investment value
Real estate valuation
value depends on
Risk
maximum price an investor is willing to pay for ownership int…
estimate all future net cash flows, convert into estimate of pv
magnitude, timing, and risk of expected cash flows
possibility that actual outcomes will vary
Investment value
maximum price an investor is willing to pay for ownership int…
Real estate valuation
estimate all future net cash flows, convert into estimate of pv
21 terms
Fundamentals of real estate
Real estate
Fixtures
Freehold
Nonfreehold
Land and everything permently attached to it
Items that may appear to be personal property but are conside…
Uncertain duration because it extends into the owner chooses…
Involves various kinds of lease. Leases are contracted for a…
Real estate
Land and everything permently attached to it
Fixtures
Items that may appear to be personal property but are conside…
Real Estate Fundamentals
Real Propert
Personal property
Bundle of rights
Inverted pyramid
Real property is defined as land anything attached or affixed…
Personal property is everything that is not land or permanent…
An owner of real property has a bundle of rights including th…
Within the boundaries of her property a real property owners…
Real Propert
Real property is defined as land anything attached or affixed…
Personal property
Personal property is everything that is not land or permanent…
22 terms
Real Estate Fundamentals
Possessory
Non-possesory
Fixture
Undivided Interests
To possess property and exclude others Ex. house, land
in possession of another, I.E. Lien, Easement, Restrictive Co…
...
Does not divide the land into certain percentages but allows…
Possessory
To possess property and exclude others Ex. house, land
Non-possesory
in possession of another, I.E. Lien, Easement, Restrictive Co…
57 terms
Real Estate Fundamentals
Platting
Zoning
traditional zoning
Zoning ordinance
process of creating subdivision involves exactions, survey of…
regulation by a municipality of land use buildings and struct…
use classifications ... use districts... setback requirements... bulk…
divides a city into certain districts and prescribes regulati…
Platting
process of creating subdivision involves exactions, survey of…
Zoning
regulation by a municipality of land use buildings and struct…
40 terms
Fundamentals to Real Estate
Property
Real Property
Personal Property
Corporeal Property
The legal rights to use and enjoy any thing. Refers to the le…
Also known as Realty. It is the property rights to real estat…
Also known as personalty. It is the rights to everything else…
Also known as tangible; It is the right to use, own, and enjo…
Property
The legal rights to use and enjoy any thing. Refers to the le…
Real Property
Also known as Realty. It is the property rights to real estat…
28 terms
Real estate fundamentals
alienation clause
5 essentials of a deed
quickclaim deed
3 essentials to record a deed
Also know as "due on sale" clause permits lender to declare b…
-legal name of parties... -consideration... -granting clause (state…
A type of deed that releases the grantor of any rights in the…
-acknowledgement (grantor appears before notary and declares…
alienation clause
Also know as "due on sale" clause permits lender to declare b…
5 essentials of a deed
-legal name of parties... -consideration... -granting clause (state…
521 terms
Real Estate Fundamentals
Real property
Personal property
Bundle of rights
Appurtenance
Land, anything affixed to the land, and anything incidental o…
Everything that is not land or permanently attached or appurt…
Includes the right to possess, use, enjoy, encumber, will, se…
Something that goes with or pertains to ownership of a piece…
Real property
Land, anything affixed to the land, and anything incidental o…
Personal property
Everything that is not land or permanently attached or appurt…
41 terms
WA Real Estate Fundamentals
Real property
Personal property
Bundle of rights
Leasing property
Defined as land. Anything attached or affixed to the land. An…
Defined as anything that isn't real property--anything that i…
The owner's bundle of rights includes the right to possess, u…
Selling property for a period of use; rent
Real property
Defined as land. Anything attached or affixed to the land. An…
Personal property
Defined as anything that isn't real property--anything that i…
32 terms
Real Estate Fundamentals Midterm
cash flow
tenant
lease
tenant improvement allowance (TI allow…
the foundation of RE. Landlord Monetizes the lease. LL collec…
provides source of demand for space. credit quality is a key…
contractual relationship between landlord and tenant. terms a…
Landlord plans out (spends money) on planning out land for te…
cash flow
the foundation of RE. Landlord Monetizes the lease. LL collec…
tenant
provides source of demand for space. credit quality is a key…
13 terms
Real Estate Fundamental
Kansas state license law... state licens…
KREC
KAR
Real Estate
Written/made by the kansas legislature
Kansa Real Estate Commission located in topeka
Kansas Association of Realtors
Is Land and anything artificial attached to it.
Kansas state license law... state licens…
Written/made by the kansas legislature
KREC
Kansa Real Estate Commission located in topeka
74 terms
Fundamentals of Real Estate TEST 1
1. A market where tenants negotiate re…
2. The market in which required rates…
3. The actions of local, state, and fe…
4. Approximately what portion of U.S.…
user market
capital market
all the above
Approximately two-thirds
1. A market where tenants negotiate re…
user market
2. The market in which required rates…
capital market
129 terms
Real Estate Fundaments
is the business of bringing people tog…
is the process of estimating a propert…
is a person hired to maintain and mana…
is the business of providing funds for…
Brokerage
Appraisal
property manager
financing
is the business of bringing people tog…
Brokerage
is the process of estimating a propert…
Appraisal
65 terms
Final Exam Real Estate Fundamentals
What does Capital gains taxes mean?
What does Depreciation Allowance mean?
what does the Discount rate mean?
What does an effective tax rate mean?
Taxes applied to the portion of the taxable gain on sale that…
an allowance for loss due to depreciation
The rate at which an investment's revenues and costs are disc…
The percentage amount by which income taxes reduce the going-…
What does Capital gains taxes mean?
Taxes applied to the portion of the taxable gain on sale that…
What does Depreciation Allowance mean?
an allowance for loss due to depreciation
40 terms
Real Estate Fundamentals test I
d
d
b
b
Which of the following is not part of the "bundle of rights"…
Which of the following is an indefeasible fee?... A. fee simple…
An agent is someone employed by a... A. master... B. principal... C. l…
Prior to may 28, 1980 NJ created an inchoate statutory intere…
d
Which of the following is not part of the "bundle of rights"…
d
Which of the following is an indefeasible fee?... A. fee simple…
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