Reading...
Play button
Play button
Use LEFT and RIGHT arrow keys to navigate between flashcards;
Use UP and DOWN arrow keys to flip the card;
H to show hint;
A reads text to speech;
15 Cards in this Set
- Front
- Back
|
Chattels. Moveable items.
|
Personal Property
|
|
|
Earth's surfac extending downward to the center of the earth and upward to infinity including things permanently attached by nature, such as water and trees.
|
Land
|
|
|
Land above and below the earth's surface including things permanently attached to it, whether natural or artifical.
|
Real Estate
|
|
|
Interest benefits and rights inherent in the ownership of real estate. Bundle of rights.
|
Real Property
|
|
|
Physical Characteristics of real estate
|
Immobility Indestructable Uniqueness
|
|
|
Geographic location of any parcel of land can never be changed.
|
Immobility
|
|
|
Land is permanent.
|
Indestructibility
|
|
|
No two parcel of land are the same.
|
Uniqueness
|
|
|
Economic Characteristics
|
Scarcity
Improvements Permanence of Investment Area Preference (Location) |
|
|
Total supply is fixed.
|
Scarcity
|
|
|
Any addition or change to land or a building that affects the property value.
|
Improvement
|
|
|
Once land is improved, the total capital and labor to build the improvment represents a large fixed
|
Investment
|
|
|
Choice,taste for a given area. Situs.
|
Location
|
|
|
Will give the owners the greatest actual return on their investment.
|
Highest and Best use
|
|
|
Public and private controls.
|
Zoning laws.
|
