The phrase "bundle of legal rights" is properly included in the definition of real property The right to control one's
property includes all of the following EXCEPT the right to exclude the utilities meter reader According to law, a trade fixture is A couple is interested in a house that fits most of their needs, but it is located in a busy downtown area where they are not sure they want to live. The couple's concern about the property's location is called The word IMPROVEMENT refers to all the following except Real property can become personal property by All of the following are physical characteristics of land EXCEPT A broker showed an owner-occupied property that had window screens, venetian blinds, and a wall bed. The broker secured a buyer whose offer was accepted by the owner, and the transaction was placed in escrow. Before the close of escrow, the seller may remove... NONE of the identified items. Which of the following is considered personal property? A rancher owns a parcel of land on which oil was discovered. If the rancher has not previously conveyed the oil rights, who owns the oil? Certain items on the premises that were installed by the tenant and are related to the tenant's business are called Personal
property includes all of the following EXCEPT After the construction of a building over a railroad right-of-way, the trains can All of the following are economic characteristics of land EXCEPT Generally, personal property can be distinguished from real property by its An important characteristic of land is that it may be modified or improved at any given time. Depending on its type, an improvement may increase the value of real estate greatly. All of the following would be considered improvements to land EXCEPT A landlord leases store space to a tenant for a restaurant. The tenant installs ovens, booths, counters, and other equipment. When do these items become real property? The geographic location of any parcel of land can All of the following are tests for determining a fixture EXCEPT The owner of a house wants to fence the yard for her dog. When the fence is erected, the fencing materials are converted to real estate by The physical characteristics of land include which of the following The rights of ownership of real property include all of the following EXCEPT Which of the following has the greatest impact on the value of a property? Which phrase BEST defines real estate? Land and all things permanently affixed to it The term Nonhomogeneity refers to The bundle of legal rights is included in the definition of The bundle of legal rights includes all of the following rights EXCEPT use the property for any purpose, legal or otherwise. Which of the following is a physical characteristic of real estate? Which of the following would NOT be a consideration when determining whether an item is real property? Cost of the item when purchased. Which of the following is NOT an economic characteristic of real estate? The tenant of a single-family home installs an awning over the building's front windows to keep the sun away from some delicate hanging plants. Which of the
following is TRUE? -the awning is considered a fixture Which entity is generally responsible for creating the requirements for a real estate license? The buyers have asked their real estate agent to help them them determine the correct way to take title to their new home. In this situation, the real estate agent should... Suggest that the buyers consult an attorney What is the purpose of real estate license laws? To protect the public from fraud, dishonesty and incompetence. Pennsylvania law requires the seller to provide notice to a purchaser about whether a structure on the land is entitled to support from the underlying coal. This is known as the... While moving into a newly purchased home, the buyer discovered that the seller had taken the ceiling fan that hung over the dinning room table. The seller had not indicated that the ceiling fan would be removed, and the contract did not address this issue. Which statement is TRUE? Ceiling fans are normally considered to be real estate. A buyer purchased a parcel of land and immediately sold the mineral rights to an oil company. The buyer gave up which of the following? A homeowner is building an enclosed front porch on his home. A truckload of lumber that the homeowner purchased has been left in the driveway for use in building the porch. At this point, the lumber is considered... Method of annexation, adaptation to real estate, and agreement between the parties are the legal tests for determining whether an item is a fixture or personal property Which if the following is required in Pennsylvania real estate transactions? What is the process that often produces sink-holes or troughs in some Pennsylvania regions? What includes the bundle of rights?The term “bundle of rights” describes the set of legal rights associated with ownership of real property. The “bundle” is made up of five different rights: the right of possession, the right of control, the right of exclusion, the right of enjoyment and the right of disposition.
What are property rights?What Are Property Rights? Property rights define the theoretical and legal ownership of resources and how they can be used. These resources can be both tangible or intangible and can be owned by individuals, businesses, and governments.
What is not personal property?It is defined as everything that is not real property, such as your clothes, furniture, cars, boats, and any other movable items that aren't attached to real estate.
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