Estates and interests over land Study guides, Class notes & Summaries

MIE 305 Exam Questions And Answers 100% Verified Real Property - answerThe legal interests in land and things attached to, or growing on land. Personal Property - answerReferred to generally as chattel, the rights, powers, and privileges a person has in things that are not real property, may be transferred by sale, gift, or will. Chattels Real - answerAn interest in land, such as a leasehold. Chattels Personal - answerMoveable personal property. Chattel Personal in Action - answerSomethi...

What term refers to a loan in which the payments are interest-only? correct answersA term mortgage All of the following estates include legal title to real property, EXCEPT: correct answersTenancy for years Valerie purchases a rental list from a broker for $200. After looking at all the available apartments on the list, she is not satisfied with any of them. After three weeks of looking she requests a refund of her money. How much is she entitled to receive? correct answers$150 There is...

MIE 305 Exam Questions And Answers 100% Verified Real Property - answerThe legal interests in land and things attached to, or growing on land. Personal Property - answerReferred to generally as chattel, the rights, powers, and privileges a person has in things that are not real property, may be transferred by sale, gift, or will. Chattels Real - answerAn interest in land, such as a leasehold. Chattels Personal - answerMoveable personal property. Chattel Personal in Action - answerSomethi...

MIE 305 Exam Questions And Answers 100% Verified Real Property - answerThe legal interests in land and things attached to, or growing on land. Personal Property - answerReferred to generally as chattel, the rights, powers, and privileges a person has in things that are not real property, may be transferred by sale, gift, or will. Chattels Real - answerAn interest in land, such as a leasehold. Chattels Personal - answerMoveable personal property. Chattel Personal in Action - answerSomethi...

Land - Answer Surface, all natural things attached to it, subsurface, and air above the surface. Real Estate - Answer land plus manmade permanent attatchments Real property - Answer Real estate plus "bundle of legal rights" Bundle of Rights - Answer PUTEE (possess, use, transfer, exclude, encumber) Physical characteristics of real estate - Answer immobility, indestructibility, heterogeneity Immobility - Answer Land cannot be moved from one site to another, its location is foreve...

Land - ANSWER-The physical property and any natural objects on it - like trees and bodies of water, often referred to as a "lot', "site", or "parcel". Real estate - ANSWER-generally refers to land with permanent manmade improvements. Real property - ANSWER-refers not only to the land and its improvements, but also the bundle of rights, powers, and privileges ("bundle of rights") that are legally connected to ownership of that land. Transferred by deed. Tangible rights - ANSWER-b...

Texas Essay Exam 386 Questions with Verified Answers Essay 1 Question 1 (secured) Bank gave loan to Leather store in exchange for security agreement granting Bank "all Leather's inventory now and after-acquired" 5 days later, Jane buys a jacket from the store in a regular retail sale unaware of the financial relationship between Bank and Leather - CORRECT ANSWER Jane has superior claim to the Jacket. (although the Bank had a perfected security interest in the inventory of the sto...

6| Legal Description - a description of land that identifies real estate according to a system established or approved by law, an exact description that enables the real estate to be located and identified. - includes 3 common systems such as lot and block, metes and bounds, and rectangular survey. 6| Lot and Block System - a system for the legal description of land that refers to parcels' lot and block numbers which appear on recorded maps and plats of subdivided land, may also be ...

Land - Answer Surface and all natural things attached to it, subsurface and air above the surface Zoning Administration - Answer Zoning Board of Adjustment oversees rule administration and appeals Real estate - Answer land plus manmade permanent attachments Real property - Answer real estate plus bundle of rights Bundle of Rights - Answer Possess Use Transfer Exclude Encumber Physical Characteristics - Answer Immobility; indestructibilit; hetoerogeneity Immobility - Answer Land...

Default of contract and types of damages - correct answer -In the event of default by the buyer, the seller may have several options, which include: -Liquidated damages. The seller can choose to accept the buyer's earnest money as liquidated damages, releasing all parties from any further obligation under the contract. Liquidated damages are damages that are established in the contract. -Monetary damages. In addition to specific performance, the injured party may "seek such other relief as m...