REAL ESTATE U UPDATED EXAM WITH COMPLETE AND VERIFIED SOLUTIONS 2024

REAL ESTATE U UPDATED EXAM WITH COMPLETE AND VERIFIED SOLUTIONS 2024 Air rights are: limited to the area directly over buildings only owned by the Federal Aviation Agency (FAA) limited to the area directly over the property only urban areas have air rights. Correct Answer The rights in real property to the reasonable use of the air space above the surface of the land. Bundle of Rights Correct Answer All of the legal rights incident to ownership of property including rights of use, possession, encumbering and disposition Land Correct Answer The materials of the earth, whatever may be the ingredients of which it is composed, whether soil, rock, or other substance, and includes free or unoccupied space for an indefinite distance upwards as well as downwards. Mineral Rights Correct Answer A landowner's right to receive a portion of the profits of any minerals that are extracted from the land. Real Estate Correct Answer Land plus anything permanently attached to land. Chattel Correct Answer Goods or every species of property movable or immovable which are not real property. Personal property Emblements Correct Answer The crops and other annual plantings considered to be personal property of the cultivator. Fixtures Correct Answer Appurtenances attached to the land or improvements, which usually cannot be removed without agreement as they become real property; examples - plumbing fixtures, store fixtures built into the property, etc. Personal Property Correct Answer Any property which is not real property. Trade Fixtures Correct Answer Articles of personal property annexed by a business tenant to real property which are necessary to the carrying on of a trade and are removable by the tenant Master Plan Correct Answer A long-term planning document. It establishes the framework and key elements of a site reflecting a clear vision created and adopted in an open process. It synthesizes civic goals and the public's aspirations for a project, gives them form and organization, and defines a realistic plan for implementation, including subsequent approvals by public agencies. Subdivision Regulations Correct Answer The control of the division of a tract of land into individual lots by requiring development according to specific standards and procedures adopted by local ordinances. Building Code Correct Answer A systematic regulation of construction of buildings within a municipality established by ordinance or law.