Real Estate Principles Final Exam Review Chapter 1 : Not too much to worry about if anything. License requirements… Chapter 2: Definition of land. Land and improvements = real estate Fixtures vs. personal property Plants, trees and crops ownership Legal descriptions… Meets and bounds Recorded plat method Physical and economics characteristics of land Chapter 3: What rights the government has. Taxes, immanent domain, police power Fee simple Estate – highest form of ownership Encumbrances/Easements – Types Types of estates – life, statutory (dower and curtsy) Free hold and lease hold estates Chapter 4: Forms of ownership. Sole, Joint tenancy (right of survival ship), tenancy in common. Community property estate Limited liability company form of ownership Chapter 5: Deeds – Warranty, quick claim, Essential elements of a deed How to record – acknowledged/notarized Adverse possession Chapter 6: Title insurance How to verify title/deed Type of titles – owner/buyer/combo Where to record documents
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- Fall '19
- Mortgage loan