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10 Cards in this Set
- Front
- Back
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Factors (3) affecting demand
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Population, demographics, employment
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Area Preference/Situs
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personal preference for given areas (northtown vs southbank)
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7 reasons agency may be terminated
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1. death of either party
2. destruction of property 3. expiration of contract 4. mutual agreement 5. breach of contract 6. Law (ie bankruptcy) 7. Completion of agency |
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4 economic characteristics of real estate
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1. Scarcity
2. Improvements 3. Permanence of Investment 4. Area Preference |
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3 physical characteristics of real estate
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1. Immobility
2. Indestructibility 3. Uniqueness |
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5 categories of real property
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1. Residential
2. Commercial 3. Industrial 4. agricultural 5. Special purpose |
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Real property is conveyed by ___________, whereas Personal property is conveyed by _________.
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1. Deed.
2. Bill of Sale |
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Improvements
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Any artificial thing attached to land.
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Real Estate
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Land at, above, or below the earths surface PLUS all things permanently attached
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Annexation
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Used to change personal property into real property
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