Quickies

Question 0

Bundle of Rights

Answer 0

P - possession (right to occupy)
E - enjoyment (use how u want)
C - control (do what you want with it)
E - exclusion (refusing others)
D - disposition - right to sell it

Question 1

What effects supply & demand

Answer 1

Uniqueness, immobility, natural disaster/financial market

Question 2

Appurtenance

Answer 2

Right or privileges that comes with a property (parking space, water right)

Question 3

Chattel

Answer 3

Personal property

Question 4

riparian

Answer 4

R - River, stream, pond

To the middle of the body of water

Question 5

Littoral

Answer 5

L - lakes, seas, oceans (mean high tide)

Question 6

Accretion

Answer 6

ACCrued land bc of an inCREase of deposited so by water’s action

Question 7

Avulsion

Answer 7

RePULsed by the sudden removal of soil due to act of nature

Question 8

Doctrine of Prior appropriation

Answer 8

Appropriate use of water/
-Right to use water -
‘Doctor Prior’/Allison’s dad works in the state and tells you it’s ok.
-Controlled by state -

Question 9

Is chattel moveable?

Answer 9

Yes - its personal property

Question 10

4 economic characteristics of R.E.

Answer 10

S - scarcity
L - location (area)
I - improvement
P - permanence of investment

Slip into some real estate

Question 11

Accession

Answer 11

ACCESSing

Or acquiring fixtures which tenant didn’t remove by tenant leaving them after lease end date

Question 12

What decided real vs personal property?

Answer 12

Intention

Question 13

Brokerage

Answer 13

Bringing people together in a real estate transaction

Question 14

Factors affecting supply

Answer 14

Labor force
Construction cost
Govt control
Govt policies

Question 15

Factors affecting demand

Answer 15

Population
Demographics
Employment

Question 16

Real estate

Answer 16

The land and all things attached to it

Question 17

Title

Answer 17

The right to property and proof of that right

Question 18

Example of real property becoming personal property thru severance

Answer 18

Cutting down a tree for the wood

Question 19

Fixture

Answer 19

Was once personal property becomes so affixed now recognized as real property (also can be called annexation)

Question 20

3 physical characteristics of RE

Answer 20

Immobility
Indestructibility
Uniqueness

Question 21

Real estate license laws protect who?

Answer 21

The public

From fraud and dishonesty

Question 22

Civil right act of 1866

Answer 22

No discrimination based on race

Question 23

Protected classes

Answer 23

Race
Color
Origin
Religions
Sex
Familial status disability

Question 24

Families comprise of…

Answer 24

One or more children under 18 living with guardian

Question 25

Can you restrict occupancy standards stating no children

Answer 25

No

Question 26

Are there exemptions to the fair housing act?

Answer 26

Yes

Renting a room

Single family owned home (where owner owns <4 other homes), no realtor, no discriminatory advertising.

Private club

Religious dwelling

Question 27

Are the exemptions from the familial status protection?

Answer 27

Yes

Interned for at least 62 y/o
>80% must be occupied by 1 person at least 55 y/o

Question 28

Redlining

Answer 28

Crossing out with a red pen

Refusing to make a loan or issue insurance for any other than economic reasons

Question 29

Where are complaints brought under the civil rights act of 1866 taken?

Answer 29

Directly to Federal Court

Question 30

How long after act of discrimination can you file a charge with HUD?

Answer 30

1 year

2 years for a federal suit

Question 31

Penalties for discrimination offenses

Answer 31

1st offense - up to $16k
2nd offense - up to $37,5k w/i 5 years
3rd offense - up to $65k w/i 7 years

Question 32

Office of Fair Housing and Equal Opportunity is under who?

Answer 32

Secretary of HUD