Pennsylvania Real Estate Fundamentals Unit 1 - Key Terms Exam Questions and Answers
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Course
Pennsylvania Real Estate
Institution
Pennsylvania Real Estate
Accession - Answer-Acquiring title to additions or improvements to real property as a result of the annexation of fixtures or the accretion of alluvial deposits along the banks of streams.
Air Rights - Answer-The right to use the open space above a property, generally allowing the surface to be ...
Pennsylvania Real Estate Fundamentals Unit 1 - Key Terms Exam Questions and Answers
Accession - Answer-Acquiring title to additions or improvements to real property as a result of the annexation of fixtures or the accretion of alluvial deposits along the banks of streams.
Air Rights - Answer-The right to use the open space above a property, generally allowing the surface to be used for another purpose.
Annexation - Answer-The process of converting personal property into real property.
Appurtenance - Answer-A right, privilege, or improvement belonging to, and passing with, the land.
Area Preference - Answer-People's desire for one area over another, based on a number of factors such as history, reputation, convenience, scenic beauty, and location.
Bundle Of Legal Rights - Answer-The concept of land ownership that includes ownership of all legal rights to the land—for example, possession, control within the law,
and enjoyment.
Chattel - Answer-Items that do not fit into the definition of real property; movable objects; also known as Personal Property
Emblements - Answer-Growing crops, such as grapes and corn, which are produced annually through labor and industry; also called fructus industriales.
Factory-built Housing - Answer-Dwellings that are built off site and trucked to a building lot where they are installed or assembled.
Fixture - Answer-An item of personal property that has been converted to real property by being permanently affixed to the realty.
Improvement - Answer-(1) Any structure, usually privately owned, erected on a site to enhance the value of the property—for example, building a fence or a driveway. (2) A publicly owned structure added to or benefiting land, such as a curb, sidewalk, street, or
sewer.
Land - Answer-The earth's surface, extending downward to the center of the earth and upward infinitely into space, including things permanently attached by nature, such as trees and water.
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