practice - (4) What is an abstract of title? (5) Name the...

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1 Managerial Economics (ARE) 143 University of California, Davis Instructor: John H. Constantine Handout: Chapter 1, An Introduction to Real Estate Investment: Legal Concepts (1) What is the difference between real estate and real property? (2) What is meant by an estate? Why are estates important in real estate finance? (3) How can a leased fee estate have a value that could be transferred to another party?
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Unformatted text preview: (4) What is an abstract of title? (5) Name the three general methods of title assurance and briefly describe each. Which would you recommend to a friend purchasing a home? Why? (6) Would it be legal for you to give a quitclaim deed for the Statue of Liberty to your friend?...
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