REAL 4000: Test 1 UGA Questions and
All Correct Answers 2026 Updated.
property - Answer anything that can be owned or possessed
tangible property - Answer physical things, such as automobiles, clothing, land, and buildings
intangible property - Answer nonphysical and include contractual rights, financial claims,
interests, patents, or trademarks
real estate - Answer the land and the things attached to the land
improvements on the land - Answer any fixed structures such as buildings, fences, walls, and
decks
improvements to the land - Answer components necessary to make the land suitable for
building construction or other uses, such as streets, sidewalks, and utilities
raw land - Answer does not include any improvements or structures
real property - Answer rights associated with ownership of land and all permanent
attachments to land.
personal property - Answer things that are moveable and not permanently fixed to the land.
ex: motor home
acre - Answer 43, 560 sq ft
space market - Answer Potential occupants, both owner-occupants and tenants, or renters
competing for physical location and space
asset market - Answer the financial sector of the economy that serves to allocate financial
resources among households and firms requiring funds
assessment lien - Answer lien assessment by local governments to ensure that those who
receive the primary benefit of neighborhood improvements will be charged their "fair share"
, attach - Answer to place a lien on real property
condominium - Answer an ownership that combines a fee simple estate for ownership of
individual units and tenancy in common for ownership of common areas - describes an
ownership form not construction
condominium bylaws - Answer the official rules and regulations that govern condominiums
ownership
deed restriction - Answer limitations imposed on the use of land and structures by clauses in
a deed
dower - Answer a common law provision that grants a wife a one third life estate in all of the
real property of a decedent husband
easement - Answer a right that the owners of another property may have to use ones land
for a specific limited purpose
easement appurtenant - Answer a right of use that continues from owner to owner that
involves a relationship between two parcels of land; becomes a permanent feature of both
parcels
easement in gross - Answer the right to use land for a specific, limited purpose unrelated to
any adjacent parcel
right of exclusive possession - Answer right that states you can decide who uses your real
estate
right of use - Answer right that states you can enjoy the benefits of your property
right of dispossession - Answer right that states you can get rid of your real estate as you see
fit
fee simple absolute estate - Answer most common estate; includes a complete set of rights
fee simple conditional estate - Answer estate ownership contingent on a specified condition
reversion interest - Answer Owner of a fee simple interest transfers an interest which, when
terminated, reverts back to the owner.
All Correct Answers 2026 Updated.
property - Answer anything that can be owned or possessed
tangible property - Answer physical things, such as automobiles, clothing, land, and buildings
intangible property - Answer nonphysical and include contractual rights, financial claims,
interests, patents, or trademarks
real estate - Answer the land and the things attached to the land
improvements on the land - Answer any fixed structures such as buildings, fences, walls, and
decks
improvements to the land - Answer components necessary to make the land suitable for
building construction or other uses, such as streets, sidewalks, and utilities
raw land - Answer does not include any improvements or structures
real property - Answer rights associated with ownership of land and all permanent
attachments to land.
personal property - Answer things that are moveable and not permanently fixed to the land.
ex: motor home
acre - Answer 43, 560 sq ft
space market - Answer Potential occupants, both owner-occupants and tenants, or renters
competing for physical location and space
asset market - Answer the financial sector of the economy that serves to allocate financial
resources among households and firms requiring funds
assessment lien - Answer lien assessment by local governments to ensure that those who
receive the primary benefit of neighborhood improvements will be charged their "fair share"
, attach - Answer to place a lien on real property
condominium - Answer an ownership that combines a fee simple estate for ownership of
individual units and tenancy in common for ownership of common areas - describes an
ownership form not construction
condominium bylaws - Answer the official rules and regulations that govern condominiums
ownership
deed restriction - Answer limitations imposed on the use of land and structures by clauses in
a deed
dower - Answer a common law provision that grants a wife a one third life estate in all of the
real property of a decedent husband
easement - Answer a right that the owners of another property may have to use ones land
for a specific limited purpose
easement appurtenant - Answer a right of use that continues from owner to owner that
involves a relationship between two parcels of land; becomes a permanent feature of both
parcels
easement in gross - Answer the right to use land for a specific, limited purpose unrelated to
any adjacent parcel
right of exclusive possession - Answer right that states you can decide who uses your real
estate
right of use - Answer right that states you can enjoy the benefits of your property
right of dispossession - Answer right that states you can get rid of your real estate as you see
fit
fee simple absolute estate - Answer most common estate; includes a complete set of rights
fee simple conditional estate - Answer estate ownership contingent on a specified condition
reversion interest - Answer Owner of a fee simple interest transfers an interest which, when
terminated, reverts back to the owner.
