Real Estate Fundamentals final Exam COMPLETE QUESTIONS AND CORRECT ANSWERS

Real Estate Fundamentals final Exam COMPLETE QUESTIONS AND CORRECT ANSWERS Bundle of Legal Rights is property included in - AnswerThe definition of real property Bundle of rights concept - AnswerPossession,Enjoyment,Exclusion,Disposition,control In Pennsylvania, mine activities refers to - AnswerSubsurface rights Land is considered to be - Answerindestructible The Comprehensive Plan - AnswerIs not a regulatory document Zoning does not affect such things as - AnswerDeed restrictions Zoning - AnswerA planning tool used to separate industry and business from residential neighborhoods. Zoning Ordinance - AnswerA law that limits the permitted uses of land and maximum density of development in a community. buffer zones - AnswerA strip of land, usually used as a park or designated for a similar use, separating land dedicated to one use from land dedicated to another use. Inverse Condemnation - Answeraction, initiated by a property owner against the government, to recover the loss in property value Zoning Affects: - Answerpermitted use of the land, lot sizes, types of structures, building heights, setbacks( the minimum distance structures may be built from streets or sidewalks) density(the ratio of land area to structure area or population) protection of natural resources The grantor of a deed may place effective restrictions on - AnswerThe use of the land Zoning Hearing Board are established to hear complaints about - AnswerThe effect of a zoning ordinance A new zoning ordinance is enacted. A building that is permitted to continue in its former use even though that use does not comply with a new zoning ordinance is an example of - Answer. a nonconforming use When a development increases the traffic flow on existing streets and highways, the municipality can fund the cost of transportation improvements that needed because of this development through - AnswerImpact fees To protect the public from fraudulent interstate land sales, a developer involved in interstate land sale of 25 or more lots must - AnswerProvide each purchaser with a report of the details of the land, as registered with HUD