Study your flashcards anywhere!

Download the official Cram app for free >

  • Shuffle
    Toggle On
    Toggle Off
  • Alphabetize
    Toggle On
    Toggle Off
  • Front First
    Toggle On
    Toggle Off
  • Both Sides
    Toggle On
    Toggle Off
  • Read
    Toggle On
    Toggle Off

How to study your flashcards.

Right/Left arrow keys: Navigate between flashcards.right arrow keyleft arrow key

Up/Down arrow keys: Flip the card between the front and back.down keyup key

H key: Show hint (3rd side).h key

A key: Read text to speech.a key


Play button


Play button




Click to flip

15 Cards in this Set

  • Front
  • Back
what does the term of nonhomogenetiy refer to?
Area preference or situs refers to?
In general terms what does a market refer to?
Place where sellers come to sell their goods
Compared with typical markets, the real estate market is__________________?
Is local in nature and is slow to respond to the forces of supply and demand
A fixture is considered to be ________________?
Real estate
Jerry and Ann are building a new enclose porch off the front of home. The contractor has just unloaded to lumber to build the porch with. At this point what is the lumber considered?
A chattel that is Personal property
Qualified fee generally means:
That the estate will terminate in certain events or changes in use.
An estate in land that will automatically terminate on the occurance of a specific event is?
Fee simple determinable
Purchaser of r. est. learns her ownership rights will continue forever, and no other person can make a claim over ownership of prop. What does this person own?
Fee simple interest
when a fee simple estate in a parcel of NC real estate is conveyed by a deed of two or more owners, w/o designating the nature of their co- ownership. They are assumed to be....
Tenants in common
A purchaser under the cooperative form of ownership recieves________?
I. a lease for the unit
II. a stock in the cooperative corporation
if propery has 2 plus owners as tenants in common, the interest of a desceced co-owner will pass to ______?
Heirs of dead
A condominium is created when ________?
The owner or developer files a declaration of condominium in the public record
What is the tax that distributes the cost of public services amoung real estate ownership?
Real property tax
Real property examples:
ornamental trees , and mail boxes on side of road