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33 Multiple choice questions

  1. demand, utility, scarcity, transferability
  2. major fixture that impacts the value of the property (such as a building).
  3. person who owns item as personal property and brings it on to real property.
  4. are plants growing on the land. weather naturally occurring or planted by people,are essentially treated the same.
  5. equipment a tenant installs for business and that may be removed before the lease ends (unless a contract prohibits it).
  6. legal term for attaching of affixing personal property to real property.
  7. surface of the earth, to the center of the earth.
  8. the right of ownership in a thing, such as the right of use, posses, transfer, or encumber it.
  9. land with inhancements that make it ready for a bulidling. ( sewer lines, septic system, water service)
  10. a physical characteristic of real estate that refers to the fact that real estate itself cannot move from one place to another.
  11. the greatest estate (ownership) that one can have in real property because it is transferable, inheritable, and of indefinate duration, with no conditions on title.
  12. limitted air rights, some water rights, surface rights, access rights, subsurface rights, mineral rights, oil rights.
  13. a right to use another person's real property for a particular purpose.
  14. the ability of a good or service to satisfy human wants, needs, or disires.
  15. is the process of verifying that an improvement sits withing the property boundries and there are no encrouchments from neighboring structures.
  16. a type of legal discription that starts at an easily identifiable point of being (pob), then discribes the property's boundries in terms of courses (compass directions) and distances, returning point of begining.
  17. rights that go with ownership of real property. this is a legal term referring to both physical and non-physical appurtenances.
  18. a type of legal discription for land referencing principal meridians and base lines designed throughout much of the country.
  19. not only the physical land and everything attached to it, but also the rights of ownership ( bundle of rights) in real estate.
  20. a type of legal discription use for plattered property. the discription states only the property's lot number and block number in a particular subdivision. to find the exact location, a plat map must be consulted.
  21. man-made attachments to real property, major fixtures are improvements.
  22. crops planted with the intent to be harvested.
  23. things connected to the land, whether natural or man-made.
  24. a physical characteristic of real estate referring to the fact that it can't be destroyed.
  25. uniqueness, immobility, indestructibility (dust)
  26. a detailed survey map of a subdivision.
  27. the ability to freely buy, sell, encumber, or dispose of a property in any way the owner sees fit.
  28. is an oppinion of the value of property, as of a specified date, supportable by objective data.
  29. the owners right to make the land productive. owner may use as seen fit as long as it doesn't interfere with rights of others or government restrictions.
  30. tangible items that (usually) are not permanently attached to or part of real estate.
  31. the need or disire for a specific good or service by others.
  32. all real property rights conferred with ownership, including, but not limmited to, the right of use, right of enjoyment, and the right to disposal.
  33. the percieved supply of a good or service relative to the demand for the item.