Ch 2d. Real Estate Fundamentals

Question 1

the actual physical land & its permanent attachments, both natural and man-made

Answer 1

Real Estate

Question 2

personal property that may or may not be attached to the real property, but is closely associated with and intended to be part of the real property

Answer 2

Fixture *

Question 3

rights that give owners the right to physically occupy land and use it to make it productive. Owners can use land in any way as long as it’s legal and does not interfere with other people’s rights

Answer 3

Possession

Question 4

allows owner to transfer all or some of the rights to other people

Answer 4

Disposition

Question 5

Possession, Disposition, Enjoyment, Exclusion, Control

Answer 5

Bundle of Rights

Question 6

Bundle of legal rights granted when taking ownership of property

Answer 6

Real Property *

Question 7

Rights that transfer with real property, or “run with the land”; can be sold separately if not sold in a prior transaction

Answer 7

Appurtenances *