The Nature of Real Property
I've completed module one on the online real estate license course. The first module called The Nature of Real Property consisted of the following topics:
Introduction to Real Estate Principles and Practices
Physical and Economic Characteristics of Land
The Nature of Personal Property
The Real Estate Business
Types of Real Estate
Land Descriptions
The most difficult section for me was Land Descriptions which went into some detail about methods of description used today:
Monuments method
Metes and bounds method
Government survey method
Lot, block, and subdivision method (recorded plat)
Vertical land description
Reference to other recorded documents
Today's quiz question which caught me off guard was the one that asked about ownership boundaries of a parcel of land. I hesitated with my answer but made the wrong choice anyway which said ownership in a parcel of land includes the earth's surface, extending a reasonable distance up and down.
The reason I picked that answer is because there are laws limiting the rights of owners.
The fact that rights are not unlimited made me hesitate from selecting the correct answer: ownership includes the surface to the center of the earth and upward to infinity. The comment made on my incorrect quiz stated, "ownership of a parcel includes a pie-shaped wedge from the center of the earth to infinity."
I'm 15% finished with my study before I can take the test. At this rate I can be ready in a couple of weeks, maybe sooner.
Comments(0)