PA Real Estate Fundamentals - EXAM (2025)
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Terms in this set (67)
Land; a portion of the earth's surface extending
downward to the center of the earth and upward
Real Estate
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"
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, 10/31/25, 4:38 PM PA Real Estate Fundamentals - EXAM (2025) UPDATE Verified Questions And Answers | With 100% Correct Answers graded A+ …
The rights of an owner to possess, control, enjoy, sell,
Bundle of Rights lease, mortgage, and dispose of the property.
Pertains to surface, subsurface, and air rights.
Include riparian, "river" (flowing), and littoral, "lake"
Surface Water Rights
(non-flowing) rights
Something of a temporary nature (aka: chattel or
personalty). Inc: detached household goods,
Personal Property
emblements (aka: fructose industriales; corn, plants,
crops), trade fixtures
Method of describing real estate, using boundary
lines with terminal points and angles; aka: "distances &
Metes and Bounds directions." Distance is expressed in feet, perches or
rods; all equalling 16.5.' Direction is expressed in
degrees, minutes, and seconds (").
A plan of plots recorded in county recorder plan
book; plots are identified by block & lot, and are
Plot Plan
numbered or lettered. A property deed will show a
property's lot, block, and plot plan in public records.
A map that shows the surface features (elevation) of a
Topographic Map
land area.
An estate in real property which continues for an
Freehold Estate
indefinite period of time.
Fee Simple Absolute The highest and most complete set of ownership
Estate rights one can possess in real property
Ownership interest with conditions; which, if violated,
Qualified Defeasible Fee
could cause ownership to be defeated or terminated
Grants rights to use/occupy property until occurrence
Determinable Fee Estate
of a designated event. Original grantor retains a the
(aka: Fee Simple
right of "possibility of reverter" (right to regain use or
Determinable)
possession of the property)
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