Real Estate Practice : Lesson 32 - 02/27/09 05:16 PM
                                                           
The owner of a new parcel of land was granted the right to drive across his neighbor's driveway to reach his home.
What is this right considered to be an example of ?

A. An appurtenance.
An appurtenance is considered a supplementary component of the land rights which is a right granted by the neighbor. It improves the new owners ability to gain access to the land.
… (0 comments)

Real Estate Practice : Lesson 31 - 02/27/09 05:07 PM
                                                           
What is generally consdidered to be the most important economic characterisitic of any parcel of land ?
Remember, accessibility is also something that figures prominently into the equation when you consider this particular characterisitic of land.
Take your time. The solution can be found below the wildlife photo.

A. Location
Maximizing land's potential for best and highest use is a priority, and more so when value is considered.
… (0 comments)

Real Estate Practice : Lesson 30 - 02/27/09 04:56 PM
                                                 
When we consider the right to control or use property or real estate, and to freely dispose of the property as we see to it at will or through a deed, these rights are incorporated into what system ?
Take your time. The solution is posted below the wildlife photo.

A. The bundle of legal rights ....
....which include possession, control, dispostion, enjoyment and exclusion.
… (0 comments)

Real Estate Practice : Lesson 29 - 02/27/09 04:33 PM
                                                             
When we describe something aa unique it's considered to be scarce ?
Think of dissimilar and anything marked by dissimilarity.
True or false ?
Take your time. The solution is posted below the wildlife photo.

A. False
If it's considered unique it's considered non-homogenous, or unlike other aspects of the parcel in question.
… (0 comments)

Real Estate Practice : Lesson 28 - 02/27/09 04:26 PM
                                                                   
If a tenant farmer decides to build a hen house and a building for his tractor, who do these buildings belong to ?
Take you time. The solution is posted below the wildlife photo.

A. The tenant.
If the tenant constructs a building on the property he owns it, unless other arrangements are made with the property owner.


… (0 comments)

Real Estate Practice : Lesson 27 - 02/27/09 04:19 PM
                                                                
If the buildings were blown to smithereens, vaporized, bombed, imploded or torn to pieces and the land is still there, what example has been established by recognizing that the land still in place ?
 
A. The indestructability of the land.
This is one of the most prominent aspects of land. Land, essentially, cannot be destroyed. It can be moved and displaced from the surface, but it extends to the center of the earth.
… (0 comments)

Real Estate Practice : Lesson 26 - 02/27/09 04:04 PM
                                                           
If a landownber has npoated a "no trespassing" or "no hunting"  sign on his or her property, what stick in the bundle of legal rights is this person exercising ?

A. The right of exclusioon.
The right of exclusion gives the landowner the right to say who or what has a right to be on their property.
The other rights included in the bubdle of legal rights are the rights of "control", "enjoyment" and "disposition".
… (0 comments)

Real Estate Practice : Lesson 25 - 02/25/09 09:43 PM
                                                              
When we consider the methods of annexation, adaptation and the type of agreement, these are considered the legal tests for determining whether or not an item is land or real estate ?
True or false ?

A. False
The method of annexation, the type of adaptation, and the kind of agreement entered into are the legal tests for considering whether or not an item is real property or personal property.
In brief, the county assessors office might have more to do with whether or not an item is to be considered real property or personal property.
… (0 comments)

Real Estate Practice : Lesson Bonus Bird - 02/25/09 09:35 PM
                                                         Bonus Bird
When we talk about air rights, mineral rights, and land rights what are we talking about and what would these topics be considered principle to the definition of ?

A. We're talking about real property and mineral, land and air rights are all considered part of the definition of real property.
The physical properties of the land are comprised in the combinative union of the three qualities of real property.
… (0 comments)

What is Success ? - 02/22/09 06:07 PM
                                             
What could be better than watching the economy of nearly every country collapse as we speak ?
I'll tell you what !
It's here in the beautiful, middle-class, luxury and comfort of the High Point Coffee Shop on Union Avenue in mid-town Memphis near the University of Tennessee with students, faculty and friends from all over the world, just sitting here enjoying iced cupcakes and lattes, listening to Count Basie and the Beatles, working on their mid-terms, chatting about the sunshine and the blue skies, changing babies diapers, sitting on the patio with their schnauzers, surfing the web for this and that … (12 comments)

Financing the National Debt : More Trouble - 02/18/09 03:10 PM
                                 
What happens when fiscal policy begins to determine the course of the natural state of the nations economy ?
Our federal fiscal policy is overseen by both the legislative and executive branches of the United States government.
What happens when the federal government spends more money than it expects to receive in the same year ?
A big, nasty deficit, more shortage, more shortfall of economic resource and liquidity falls and slams head of the nation.
So, what does the government decide to do when this kind of thing happens ?
The government starts to sell interest bearing securities to investors who … (2 comments)

Real Estate Practice : Lesson 24 - 02/16/09 04:07 PM
                                                              
If a property owner doesn't want to deal with the day to day task of managing an apartment complex or any other form of rental property the owner can hire a developer.
Is this true or false ?
Take your time. The answer is posted below the wildlife photo.

A. False
The property owner would hire a property manager to manage the property and see to the day to operation of it's affairs.
… (0 comments)

Real Estate Practice : Lesson 23 - 02/16/09 03:57 PM
                                                               
Appraisal, financing, property management, and real estate developement are all specializations directly linked to state and governmental finance policies.
Is this true or false ?
Take your time. The solution is posted below the wildlife photo.

A. False
Financing, property management, appraisal and developement are considered separate professions within the real estate industry.
… (0 comments)

Real Estate Practice : Lesson 22 - 02/16/09 03:42 PM
                                                     
When the population of a town suddenly increases demand for housing will start to decrease and so will real estate prices.
Is this true or false ?
Take your time. The answer is posted below the wildlife photo.

A. False
The opposite is true.
The demand for housing will begin to increase and home prices will start to follow the trend.
Prices will increase.
… (0 comments)

Real Estate Practice : Lesson 21 - 02/16/09 03:18 PM
                                                          
When someone advises a client regarding a real estate matter and is advising this client for purchase of investment purposes this person is called a mortgage broker ?
True or false ?
Take your time. The answer is posted below the wildlife photograph.

A. False
A mortgage broker assists a client in the search to finance the property.
The person we're referring to is known as a real estate counselor.
… (0 comments)

Real Estate Practice : Lesson 20 - 02/16/09 03:06 PM
                                                          
When we talk about retail space and office buildings we're usually speaking of examples of special use real estate and commercial property.
Please take your time. The answer is posted below the wildlife photo.
Is this true or false?

A. False
When we speak about office builkdings or any type of retail space we're referring to commercial property or commercial real estate.
Industrial real estate is real estate that includes factories and warehouses.
Special use real estate includes churches of housing facilities for the homeless. 
… (0 comments)

Real Estate Practice : Lesson 19 - 02/08/09 08:30 AM
                                                            
When we talk about REALTORS® we're talking about professionals that are members of the National Association of Real Estate Brokers.
Is this true or false ?
This is a very tough question, so please take your time before you scroll down below the wildlife photo for your solution.


A. False
When we talk about members of the National Association of Real Estate Brokers we're referring to Realists.
When we talk about REALTORS® we're talking about members of the National Association of REALTORS®.

All wildlife photos are royalty free.
… (0 comments)

Real Estate Practice : Lesson 18 - 02/08/09 08:14 AM
                                                
Power plants, warehouses and factories are considered examples of commercial property when the various classes of real estate are applied to identify such properties.
Is this true or false ?
Take your time. The solution is posted below the wildlife photo.

A. False
Power plants, warehouses and factories are not commercial properties.
They're classified as industrial properties because of the nature of the businesses they house.
… (0 comments)

Real Estate Practice : Lesson 17 - 02/08/09 08:02 AM
                                                         
When we consider the supply of labor and the cost of construction we also consider that supply of labor and cost of construction will impact the demand for real estate in any market region.
Is this consideration true or false ?
Please take your time. The solution is posted below the wildlife photo.

A. False
Cost of construction and the supply of labor impact the supply of real estate in any market region.
Job opportunities and relocation, such as the opening of a military installation, can impact the demand for real estate or housing in all of it's … (0 comments)

Real Estate Practice : Lesson 16 - 02/08/09 07:47 AM
                                                
There are five classes of real estate.
They are commercial, residential, agricultural, rental, and special purpose.
Is this characteriztion of the five classes of real estate true or false ?
Take your time. The solution is posted below the wildlife photo.

A. False
The five classes of real estate are commercial, residential, agricultural, industrial and special purpose.
Rental is not considered a class of real estate.
Rental property could find it's way into an investment category.
… (0 comments)

 
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David Saks

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Memphis, TN

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Address: 4040 North Watkins, Suite #4, Memphis, TN, 38127

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The information and notices contained in this blog are intended to summarize recent developments and news. The posts are presented as general research and information. These posts are not intended, nor should be regarded, as legal advice. Some blog posts concern allegations made in civil lawsuits and in criminal indictments in United States Courts. All persons are presumed innocent until convicted of a crime and proven guilty. Readers who have particular questions or who believe that they need legal counsel should seek the advice of a qualified attorney. It is neither the editor's or author's intention to create a confidential relationship or any broker-client relationship via communication from this site at any time. Please consult with your state real estate board if questions & answers in the education section conflict with the laws of your region or if you need clarification regarding their applicability or how they may govern the services that you provide.

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