Preface Flashcards
The greatest bundle of rights and responsibilities that an individual can hold in land in BC is a _______ _______ interest
fee simple
A BC Real Estate Association is an example of a ____ organization
voluntary
The ownership of a single parcel of real estate may be divided both physically and legally. TF?
True
TF? The major concern of the RESA is the protection of the public.
True
The __ __ __ __ __ __ is responsible for the licensing of real estate service providers and the general protection of the public
Real Estate Council of British Columbia
TF? BCREA only attempts to address concerns that affect members in a particular geographic location in the province
False
Which of the following is an example of a statutory real estate organization? 1. the real estate council of BC 2. the real estate institute of bc
1.
____ is responsible for the local nature of real property markets
Immobility
The immobility of real property means that land is subject to external effects known as ____
externalities
When considering the durability of structures, it is important to distinguish between the ___ life and the ____ life of the structure.
physical and economic life of the structure