Intro Into R.E.
Real Estate Licensee
Who is authorized by the state and has satisfied requirements of a licensing agency?
Attached to land or a building
What is a fixture?
Situs
What is "area preference" or location, location, location?
Severalty
What is title vested in one natural or legal person?
Community Property
What type of property is acquired during marriage?
Manages property on behalf of the owner
Who is a property manager?
M.A.R.I.A.
What is the Legal test of a fixture?
Reliction
What is receding water?
Fee Simple Absolute
What is the highest type of interest in real estate?
TIC
What is also know as Tenants in Common?
An opinion of property value
What is an Appraisal
A trade fixture
What is a special category used for businesses?
Erosion
What wears away land over time or by natural disaster?
P.I.T.T.
What is the acronym that creates joint tenancy?
P.I.T.I.
What is Principle, Interest, Tax and Insurance?
Factors affecting demand.
What are population, demographics and employment wage levels?
Fructus naturales & industriales
What are emblements?
Immobility, indestructibility and uniqueness
What are physical characteristics of land?
Ownership by married couples
What is Tenancy by the Entirety?
75 Hours
How many are needed to complete the Pre-Sales Licensing Course?
Prices for goods and services in the market.
What is supply and demand?
Littoral and Riparian
What are Water Rights?
Bundle of legal rights
What is a traditional description of ownership rights?
Future interest given in the fee simple estate
What is Remainder Interest or the Remainderman?
Easement
What is the right to use the land of another?