RLE 83 Final Prep Ch1

Front

The best definition of real property is

Back

all that is immovable and the bundle of rights.

Front

Trade fixtures are

Back

personal property.

Front

The highest bundle of rights a person may enjoy under our allodial system is a(n)

Back

a fee simple absolute estate.

Front

Economic characteristics of land include: nonhomogeneity, indestructibility, definable boundaries, fixity of improvements.

Back

fixity of improvements.

Front

Fixity of real estate refers to its

Back

location.

Front

Leverage involves using a small amount of money to

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secure a large loan for the purchase of property.

Front

The right of possession remaining with the borrower best describes

Back

hypothecation.

Front

Property is defined as

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anything that can be controlled and owned.

Front

Hereditaments refer to

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things capable of being inherited.

Front

An economic characteristic of real estate is its

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scarcity.