PA Real Estate Fundamentals Exam study guide
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Terms in this set (67)
Real Estate Land; a portion of the earth's surface extending
downward to the center of the earth and upward
infinitely into space, including all things
permanently attached to it, whether naturally or
artificially.
Leasehold Improvements Fixtures installed by landlord for tenant's use
, Real Property Real estate plus "bundle of rights"
Bundle of Rights The rights of an owner to possess, control, enjoy,
sell, lease, mortgage, and dispose of the property.
Pertains to surface, subsurface, and air rights.
Surface Water Rights Include riparian, "river" (flowing), and littoral, "lake"
(non-flowing) rights
Personal Property Something of a temporary nature (aka: chattel or
personalty). Inc: detached household goods,
emblements (aka: fructose industriales; corn,
plants, crops), trade fixtures
Metes and Bounds Method of describing real estate, using boundary
lines with terminal points and angles; aka:
"distances & directions." Distance is expressed in
feet, perches or rods; all equalling 16.5.' Direction is
expressed in degrees, minutes, and seconds (").
Plot Plan A plan of plots recorded in county recorder plan
book; plots are identified by block & lot, and are
numbered or lettered. A property deed will show a
property's lot, block, and plot plan in public
records.
Topographic Map A map that shows the surface features (elevation)
of a land area.
Freehold Estate An estate in real property which continues for an
indefinite period of time.
COMPLETE EXAM Questions and Answers
(Verified Answers) (Latest Update 2026) UPDATE!!
Save
Practice questions for this set
Learn 1 /7 Study with Learn
Terms in this set (67)
Real Estate Land; a portion of the earth's surface extending
downward to the center of the earth and upward
infinitely into space, including all things
permanently attached to it, whether naturally or
artificially.
Leasehold Improvements Fixtures installed by landlord for tenant's use
, Real Property Real estate plus "bundle of rights"
Bundle of Rights The rights of an owner to possess, control, enjoy,
sell, lease, mortgage, and dispose of the property.
Pertains to surface, subsurface, and air rights.
Surface Water Rights Include riparian, "river" (flowing), and littoral, "lake"
(non-flowing) rights
Personal Property Something of a temporary nature (aka: chattel or
personalty). Inc: detached household goods,
emblements (aka: fructose industriales; corn,
plants, crops), trade fixtures
Metes and Bounds Method of describing real estate, using boundary
lines with terminal points and angles; aka:
"distances & directions." Distance is expressed in
feet, perches or rods; all equalling 16.5.' Direction is
expressed in degrees, minutes, and seconds (").
Plot Plan A plan of plots recorded in county recorder plan
book; plots are identified by block & lot, and are
numbered or lettered. A property deed will show a
property's lot, block, and plot plan in public
records.
Topographic Map A map that shows the surface features (elevation)
of a land area.
Freehold Estate An estate in real property which continues for an
indefinite period of time.
