direct co-ownership forms (go into deeper detail later) - lots of forms, such as tenancy in
common, joint tenancy, tenancy by the entirety, condominium, cooperative
A "fixture" is.... - real property that formerly was personal property
affirmative easements give the dominant parcel some intrusiv...
Real Estate 306 Exam 1 Terms
direct co-ownership forms (go into deeper detail later) - lots of forms, such as tenancy in
common, joint tenancy, tenancy by the entirety, condominium, cooperative
A "fixture" is.... - real property that formerly was personal property
affirmative easements give the dominant parcel some intrusive use of the servient parcel -
driveway or access right-of-way, sewer line, drainage, common wall
appurtenant - a right of use that a (dominant) parcel of land "enjoys" over an adjacent (servient)
parcel
Condominum - sole ownership of "unit" and tenancy in common ownership of the "common
elements"
Cooperative - personal property "deemed" to be real estate
creates jobs for nearly - 9 million Americans
3 lien levels on a personal residence - property tax liens and assessment liens, mortgages and
mechanic's liens, judgement liens
demand and supply side of user markets are very specific to LOCATION and BUILDING TYPE. what does
this imply? - that user/space markets are very segmented compared to other integrated markets,
like gasoline, steel, financial capital, and other homogeneous commodities that can be moved from place
to place
Difference between real property and personal property? - Real property is pretty permanent.
Personal property can be easily removed without leaving any marks/damages
,
, dominant vs. servient? - dominant benefits from the easement, servient gets f*cked
easement in gross - a servient parcel, but no really dominant parcel exists. It's things like
pipelines, power lines, cables, run an irrigation ditch, harvest timber or crops.
easements - the right to use land for a specific and limited purpose
Easements typically "run with the land", meaning... - the rights and obligations are inseparable
from the parcels involved
estate - a real property interest that includes the right of exclusive posession
fee simple absolute is different than fee ownership - got it
Fee simple estate - implies absolute ownership (all the sticks in the bundle of rights) but limited by
taxation, eminent domain, police powers, escheat
Figure 1 of the re proces, w/ Graaskamp - space consumer, spaces producers, public
infrastructures
General Liens - arise from events unrelated to the property. For example, court damages in cases
unrelated to the estate
generates nearly 70% of local government revenue through... - property tax
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller PatrickKaylian. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $7.99. You're not tied to anything after your purchase.
