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REE 3043 Paul Black- FIU Exam #1
Questions and Correct Answers
Real State Answer: Land and improvements to the
land-house, structures built on the land. The land such
as mineral rights, oil, gold, Air rights.
Air Rights Answer: The ability to buy the right to build
a higher building. Example: Miami beach buying selling
zones. In NYC you must buy air rights of an adjoining
property, exam Trump Tower
Real property Answer: Anything that won't fall out of
a house if turned up - side down. It's attached to the
house/building.
Personal Property Answer: Not attached to the house/
building ( real property) Exam: Table, furniture, fridge,
Anything you can unplug and it doesn't cause damage
to the property.
Fixture Answer: when something was at one time
personal property and then it became attached to real
Pretest - Stuvia US
, 2
property is now considered to be real property. If not
on the contract, then no valid.
Law of fixture Answer: If attached and the purchase
contract is silent on this issue, then the fixture stays in
the house. Exam: The chandelier exam.
Real state professions Answer: Agent, broker,
financing, litigation, management, developer,
constructor, appraiser, architect, land planner, analyst,
etc.
Infrastructure Answer: Services that are built by the
government. Exam: Roads, Water, Sewer lines, Public
schools, Police, Fire, Parks, Libraries, Government
services.
Urban sprawl Answer: When someone builds way too
far. Concurrency was created to prevent (leap-
frogging)
Concurrency (con: TWO) Currency: Same time
Answer: Two things happening at the same time.
Pretest - Stuvia US
REE 3043 Paul Black- FIU Exam #1
Questions and Correct Answers
Real State Answer: Land and improvements to the
land-house, structures built on the land. The land such
as mineral rights, oil, gold, Air rights.
Air Rights Answer: The ability to buy the right to build
a higher building. Example: Miami beach buying selling
zones. In NYC you must buy air rights of an adjoining
property, exam Trump Tower
Real property Answer: Anything that won't fall out of
a house if turned up - side down. It's attached to the
house/building.
Personal Property Answer: Not attached to the house/
building ( real property) Exam: Table, furniture, fridge,
Anything you can unplug and it doesn't cause damage
to the property.
Fixture Answer: when something was at one time
personal property and then it became attached to real
Pretest - Stuvia US
, 2
property is now considered to be real property. If not
on the contract, then no valid.
Law of fixture Answer: If attached and the purchase
contract is silent on this issue, then the fixture stays in
the house. Exam: The chandelier exam.
Real state professions Answer: Agent, broker,
financing, litigation, management, developer,
constructor, appraiser, architect, land planner, analyst,
etc.
Infrastructure Answer: Services that are built by the
government. Exam: Roads, Water, Sewer lines, Public
schools, Police, Fire, Parks, Libraries, Government
services.
Urban sprawl Answer: When someone builds way too
far. Concurrency was created to prevent (leap-
frogging)
Concurrency (con: TWO) Currency: Same time
Answer: Two things happening at the same time.
Pretest - Stuvia US
