Key Terms What Is Real Estate Flashcards
1
Q
Land
A
Surface of the earth,
including attached natural features
extends to center of the earth
& upwards forever
2
Q
Real Estate
A
Land plus all improvements made by man or nature
3
Q
Real Property
A
Surface land
To center of earth upward to space
includes everything attached by man/nature
W/ legal rights of ownership
4
Q
Improvement
A
Any structure built in or affixed to land
5
Q
Bundle of rights
A
Ownership of land with legal rights of
possession
control
quiet enjoyment
exclusion
transfer
& encumber
6
Q
Property
A
Any item owned, with rights of ownership
