Basics of Real Estate Law - Law of
Contracts - Champions Questions and
Complete Solutions Graded A+
Common Law - Answer: Developed in England, based on Common Sense
Statutory Law - Answer: body of laws and regulations enacted by federal and state legislatures
Land - Answer: defined as the surface of the earth, extending downward to the center of the earth and
upward above the surface to infinity. This definition also includes natural things such as trees, crops, and
water.
Real Estate - Answer: all that is encompassed in land, with the addition of all man-made additions to the
land (improvements) such as roads, houses, and commercial buildings
Real Property - Answer: beyond the physical real estate and includes the rights that a person has in the
land. These rights are often referred to as the "bundle of rights."
Surface Rights - Answer: The ability to use extracted resources such as stone, gravel, and limestone
Subsurface Rights - Answer: Includes the rights to deed oil, gas, and other minerals
dominant estate in Texas
Air Rights - Answer: extend above the surface without limitation
- outdoor advertising
- Cell towers
- Condominiums
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