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Session 1 - Intro to Real Estate / Real Property & the Law Flashcards | StudBud
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Session 1 - Intro to Real Estate / Real Property & the Law
Session 1 - Intro to Real Estate / Real Property & the Law
20 terms
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Review of Session 1 of Real Estate Practices and Principles class
Flashcards
20 cards
F
Practice quiz
P
Host live
L
Questions
20
Answers
1
If demand increases and supply decreases
values double
values increase
values remain unchanged
values decrease
2
Your favorite real estate educator is
Dom
Don
Dan
Dim
3
A real estate professional who determines values of real estate is a(n)
REALTOR®
Broker
Appraiser
Salesperson
4
A real estate professional who advises people as to what properties to buy or sell is a(n)
real estate advisor
real estate counselor
REALTOR®
real estate educator
5
Air rights
do not exist
allow you to breathe
may be bought and sold
are unlimited
6
Your property abuts a river. Your boundaries are determined by
the town
if the river is navigable
the edge of the river
the center of the river
7
A commercial tenant bolts tables and chairs for his cafe to the floor. These tables and chairs
belong to the landlord
must remain after the lease ends
are trade fixtures
installed illegally
8
Your property abuts a river, which gives you
literal rights
littoral rights
river rights
riparian rights
9
If demand increases and no other factors change, then
values will increase
values will decrease
supply will increase
demand will decrease
10
You need a permit to use water from a river on your property. Your state utilizes what law?
Water permits
Doctrine of water rights
Laws of water usage
Doctrine of prior appropriation
11
Ceiling fans are considered to be
personal property
fixtures
tacky
trade fixtures
12
Special purpose properties include
schools
warehouses
mixed use properties
farms
13
If supply increases and no other factors change, then
values will increase
demand will increase
values will decrease
demand will decrease
14
Another word for personal property is
personality
mine
personalty
private
15
An improvement increases a property's value
always
when built
when installed
sometimes
16
A licensed real estate professional acting for another to buy or sell real property is a
REALTOR®
sales associate
licensee
broker
17
Another word for personal property is
chattel
personality
money
private property
18
Two characteristics of land that have the most impact on value are
uniqueness and mobility
homogeneity and immobility
uniqueness and homogeneity
uniqueness and immobility
19
Your property is waterfront on a lake. You have
riparian rights
lake rights
literal rights
littoral rights
20
An example of personal property is
a maple tree
lawns
a rose bush
an annual crop
