Real Estate Dynamics Chapter 1-15

Flashcards based on Real Estate Dynamics lecture notes to help review for the exam.

Which of the following best describes a parcel of land?

The surface of the earth extending down to the center and upward to infinity.

In determining whether an item is a fixture, which of the following would NOT be considered?

Value of the item.

What characteristic distinguishes personal property from real property?

Mobility.

When used in a deed or other real estate document, why does a legal description describe only the land?

Buildings and other improvements are considered to be part of the real estate.

An item that was personal property but has been attached to and become part of the real property is known as:

A fixture.