Government rights to your real estate
-Police Power-the right to protect us, police, fire department, etc.
-Eminent Domain-acquire property from us if deemed necessary for general welfare
Intro to Real Estate
-Surface Rights- You purchase the surface of the boundaries.
-Ask the seller to give you a survey paid for by them to measure boundaries.
-Trees, rock, anything growing on land in yours as part of purchase.
Test February 18th!
Real Estate Ch. 4
Forms of Ownership
-Sole Ownership- Purchase individually and own individually
Two or More People
-Tenancy by the Entirety-Married and buy property, share property
-Right of Survivorship (comes with)-If one
Intro to Real Estate
-Selling Real Estate
-Farms-Poultry farms sell in millions
-Real Estate Appraiser-Determine the value of the property.
-Property Managers-People who manage the properties owned by others.
-Usually paid by the rent you c
Real Estate Ch. 7
Contract- A legally binding agreement to do or not to do something.
Most real estate contracts are in writing. (Expressed)
Implied Contracts-Unspoken agreement like being at a restaurant.
-Ex. Month to month leases giving the r
QUIZ for Bonus Points based on National Association of Realtors President Chris
1) Are all real estate agents members of the National Association of Realtors (NAR)?
a. Yes, when you obtain your license you automatically become a me
eWalk-through: a final inspection of the property just prior to
Purpose of giving the buyer the opportunity to make certain
that agreements regarding the condition of the premises have
Title closing- the process of compl
REAL ESTATE EXAM 2 chapters 8-15
Contract is a legally forceful agreement to do, or not to do
If the person on the other side of the contract doesnt do what
they said they would then you can sue them.
Must be of legal age, and have a
REAL ESTATE EXAM 1
When you purchase a piece of land you own:
What is on the surface called Surface Rights.
You also own what is beneath, Subsurface Rights Mineral
Land is surveyed by Civil Engineers.
You also own the air above your l