18 Questions
In real estate investment, what is another name for depreciation?
Cost recovery
Which type of property includes office buildings and retail space?
Commercial real estate
Which factor is least likely to affect demand for real estate?
Material costs
What is defined as a claim, charge, or liability that attaches to real estate?
Easement in gross
What form of ownership is employed when one person transfers ownership to someone else to hold and manage for a third person?
Trust
Who cannot take title as a joint tenant with right of survivorship?
Parent and child
What form of ownership are the three brothers presumed to have taken?
Tenancy in common
What advice should the real estate professional offer to two relatives who share a house?
Suggest that they consult with an attorney
What kind of trust is established when a will requires the local banker to take care of the deceased's estate until the deceased's children reach age 25?
Testamentary trust
What kind of ownership do the horizontal property acts regulate?
Condominiums
What is the BEST option for one of the co-owners of the apartment building to sell their interest?
File a suit for partition
If one of the co-owners sells their interest in the apartment building, what will happen to the ownership status?
The buyer will become a joint tenant with the remaining owner.
What type of ownership interest is fee simple ownership of a cottage in a lakefront community?
Time-share estate
What is N's role in 'Property Group Partners' based on the provided information?
Run the business and contribute $30,000
Which of the following statements reflects a correct understanding of the difference between real property and personal property?
Lighting fixtures are normally considered to be real property, irrespective of where they were bought or how they were installed.
Which stick in the bundle of rights gives the farmer the authority to post No Trespassing and No Hunting signs on the property?
Exclusion
What is a right or privilege tied to real property, although not necessarily part of the property, called?
Appurtenance
Why is it necessary for the sales contract to explicitly exclude a rose bush from the sale of a property?
The rose bush is considered personal property, so it needs to be explicitly excluded.
Test your knowledge of real estate investment with this quiz, covering topics such as types of real estate, depreciation, and factors affecting demand.
Make Your Own Quizzes and Flashcards
Convert your notes into interactive study material.
Get started for free
