Florida Real Estate Exam 2024 Q&A
Township A square 6 miles on each side (6 miles square) containing 36 square miles (36 sections); also an (east-west) strip of land north and south of a baseline (tier). Section A square 1 mile on each side (1 mile square) containing 1 square mile (640 acres). Quarter Section One-fourth of a square mile-or 160 acres- of publicly owned land. Government lot Fractional piece of land less than a quarter section resulting from geographical features (e.g., lakes, streams) interfering with land surveying. They become specific lot numbers Riparian Rights An owner's rights in land that borders on or includes a stream, river, or lake. These rights include access to and use of the water. Littoral Rights The right of a property owner whose land borders on a body of water, such as a lake, ocean or sea, to reasonable use and enjoyment of the shore and water the property borders on. External Obsolescence loss of value due to factors beyond the property boundaries Binder Deposit credit to the buyer How many sections in a township 36 Joint Tenants undivided ownership and right of survivorship goes to the surviving owner. Never the heirs FHA Loans Federally insured loan (insurance)
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