REE 3043 Paul Black- FIU Exam #1 EXAM fully solved &
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HS 3250 Final RI Real Estate real estate vocabulary Tex
Teacher 138 terms Teacher 126 terms Teacher 300 terms Te
DALTONDAN341 Preview joshuawesonga752 Preview cliffordrosasi Preview
Practice questions for this set
Learn 1 /7 Study with Learn
Tenant gets the right to use for a certain period of time Exam: apart rental.
Choose an answer
1 Remainder Estate 2 Leasehold Estate
3 Fee Simple Estate 4 Periodic Estate
Don't know?
Terms in this set (57)
Real State Land and improvements to the land-house, structures built on the land. The
land such as mineral rights, oil, gold, Air rights.
Air Rights The ability to buy the right to build a higher building. Example: Miami beach
buying selling zones. In NYC you must buy air rights of an adjoining property,
exam Trump Tower
, Real property Anything that won't fall out of a house if turned up - side down. It's attached to
the house/building.
Personal Property Not attached to the house/ building ( real property) Exam: Table, furniture,
fridge, Anything you can unplug and it doesn't cause damage to the property.
Fixture when something was at one time personal property and then it became
attached to real property is now considered to be real property. If not on the
contract, then no valid.
Law of fixture If attached and the purchase contract is silent on this issue, then the fixture
stays in the house. Exam: The chandelier exam.
Real state professions Agent, broker, financing, litigation, management, developer, constructor,
appraiser, architect, land planner, analyst, etc.
Infrastructure Services that are built by the government. Exam: Roads, Water, Sewer lines,
Public schools, Police, Fire, Parks, Libraries, Government services.
Urban sprawl When someone builds way too far. Concurrency was created to prevent (leap-
frogging)
Concurrency (con: TWO) Currency: Same time Two things happening at the same time.
1. Impact to society: Someone building 100 homes- more kids, more roads
needed.
2. Infrastructure: Is built to satisfy this impact- response of the government to
that impact.
Gestation period Time from when a project is conceived, until it's complete and available for
occupancy. Exam: Pregnancy.
Value Creation When the value of something (what someone will pay for it) exceeds its cost.
Highest and best use Use of land that produces the greatest long term economic return. Has 3
criteria
1. Legal use of the land: Must conform to zoning
2. Practical use of the land: Practical use of the land
3. Feasible use of " " : Is the deal financially feasible?
Interim Use A temporary use of land. Exam: Drive in movies, Mobile home park, parking
lots, Circus, Parking.
Adaptive Reuse The use of a building for something other than what it was originally used for.
Exam: Building that was a house and is now a CPA's office or. church that is now
a restaurant (Residential to residential is not an example)
Leasehold Estate Tenant gets the right to use for a certain period of time Exam: apart rental.
updated 2025-2026(latest version verified for accuracy)
(Questions + Answers) Solved 100% Correct!!
Leave the first rating
Save
Students also studied
Flashcard sets Study guides
HS 3250 Final RI Real Estate real estate vocabulary Tex
Teacher 138 terms Teacher 126 terms Teacher 300 terms Te
DALTONDAN341 Preview joshuawesonga752 Preview cliffordrosasi Preview
Practice questions for this set
Learn 1 /7 Study with Learn
Tenant gets the right to use for a certain period of time Exam: apart rental.
Choose an answer
1 Remainder Estate 2 Leasehold Estate
3 Fee Simple Estate 4 Periodic Estate
Don't know?
Terms in this set (57)
Real State Land and improvements to the land-house, structures built on the land. The
land such as mineral rights, oil, gold, Air rights.
Air Rights The ability to buy the right to build a higher building. Example: Miami beach
buying selling zones. In NYC you must buy air rights of an adjoining property,
exam Trump Tower
, Real property Anything that won't fall out of a house if turned up - side down. It's attached to
the house/building.
Personal Property Not attached to the house/ building ( real property) Exam: Table, furniture,
fridge, Anything you can unplug and it doesn't cause damage to the property.
Fixture when something was at one time personal property and then it became
attached to real property is now considered to be real property. If not on the
contract, then no valid.
Law of fixture If attached and the purchase contract is silent on this issue, then the fixture
stays in the house. Exam: The chandelier exam.
Real state professions Agent, broker, financing, litigation, management, developer, constructor,
appraiser, architect, land planner, analyst, etc.
Infrastructure Services that are built by the government. Exam: Roads, Water, Sewer lines,
Public schools, Police, Fire, Parks, Libraries, Government services.
Urban sprawl When someone builds way too far. Concurrency was created to prevent (leap-
frogging)
Concurrency (con: TWO) Currency: Same time Two things happening at the same time.
1. Impact to society: Someone building 100 homes- more kids, more roads
needed.
2. Infrastructure: Is built to satisfy this impact- response of the government to
that impact.
Gestation period Time from when a project is conceived, until it's complete and available for
occupancy. Exam: Pregnancy.
Value Creation When the value of something (what someone will pay for it) exceeds its cost.
Highest and best use Use of land that produces the greatest long term economic return. Has 3
criteria
1. Legal use of the land: Must conform to zoning
2. Practical use of the land: Practical use of the land
3. Feasible use of " " : Is the deal financially feasible?
Interim Use A temporary use of land. Exam: Drive in movies, Mobile home park, parking
lots, Circus, Parking.
Adaptive Reuse The use of a building for something other than what it was originally used for.
Exam: Building that was a house and is now a CPA's office or. church that is now
a restaurant (Residential to residential is not an example)
Leasehold Estate Tenant gets the right to use for a certain period of time Exam: apart rental.
