NC Real Estate Principles and Practices Chapter 1 - Superior School Exam

NC Real Estate Principles and Practices Chapter 1 - Superior School Exam Another name for Real Estate -Answer-Real Property or Realty Another name for Real Property -Answer-Realty or Real Estate Real Property -Answer-includes the land at above and below the earth's surface, including all things permanently attached to it, natural or artificial. Real Estate includes -Answer--improvements -Buildings -Fences -Trees and plants attached Real Property transfers with a -Answer-Deed Evidenced by a deed are -Answer-Title and conveyance Owner conveys all aspects unless -Answer-there is an agreement to except some portion of the real estate Real Property includes -Answer-the earth's surface downward to the center and upward to infinity Personal Property is also called -Answer-Chattel or Personalty Personal Property/Chattel/Personalty is defined as -Answer--everything not real property or attached to it -readily movable Document used to transfer personal property is: -Answer-A Bill of Sale Clients can write a bill of sale but brokers -Answer-can not Brokers can not write -Answer-legal documents Physical Characteristics of Real Property -Answer--immobile -permanence or indestructibility -unique