Podcast
Questions and Answers
What does a Real Estate Investment Trust (REIT) do?
What does a Real Estate Investment Trust (REIT) do?
What is the primary purpose of an eminent domain?
What is the primary purpose of an eminent domain?
Which of the following can be considered a function of a REIT?
Which of the following can be considered a function of a REIT?
Eminent domain is best described as what type of legal right?
Eminent domain is best described as what type of legal right?
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A company that offers shares to the public and earns income from real estate operations is known as?
A company that offers shares to the public and earns income from real estate operations is known as?
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What is a loan used to purchase real estate, where the property's value serves as collateral for the loan?
What is a loan used to purchase real estate, where the property's value serves as collateral for the loan?
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Which term describes the process of gradually paying off a loan through regular payments?
Which term describes the process of gradually paying off a loan through regular payments?
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Which document establishes ownership of a property?
Which document establishes ownership of a property?
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What is an expert assessment of a property's value called?
What is an expert assessment of a property's value called?
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What is the final step in a real estate transaction where the property title is transferred from the seller to the buyer?
What is the final step in a real estate transaction where the property title is transferred from the seller to the buyer?
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Which term defines a limited interest in land, meaning a right to use another's land for a specific purpose?
Which term defines a limited interest in land, meaning a right to use another's land for a specific purpose?
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Which of the following describes a legal claim against a property used as collateral for a debt?
Which of the following describes a legal claim against a property used as collateral for a debt?
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What is the difference between the market value of a property and the amount owed on any mortgage against it?
What is the difference between the market value of a property and the amount owed on any mortgage against it?
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Study Notes
Real Estate Terminology
Property Valuation and Ownership
- Appraisal: expert assessment of a property's value for various purposes
- Deed: legal document establishing property rights
- Title: legal document establishing ownership of a property
- Fair Market Value: highest price a willing seller would accept for a property
Real Estate Transactions
- Closing: final step in a real estate transaction, transferring property title and settling finances
- Mortgage: loan to purchase real estate, using the property as collateral
- Lien: legal claim against a property, used as collateral for debt
- Collateral: property or asset used to secure a loan
Property Rights and Restrictions
- Easement: limited interest in land for a specific purpose (e.g., utility service)
- Zoning: laws regulating property use in specific geographic districts
- Eminent Domain: government's legal right to use private land for public projects (e.g., roadways)
Financing and Investment
- Interest Rate: percentage of a loan charged by a lender to a borrower
- Amortization: gradual payment of a loan through regular installments
- Equity: difference between a property's market value and mortgage debt
- Real Estate Investment Trust (REIT): company owning, operating, or financing income-producing real estate, offering public shares
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Description
Test your knowledge of real estate concepts, including Real Estate Investment Trusts (REITs) and Eminent Domain. Learn about the legal aspects of real estate and how they impact the industry.
