Real Estate QUIZMASTER

“Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner

Real Estate QUIZMASTER

100 100 100 100 100

200 200 200 200 200

300 300 300 300 300

400 400 400 400 400

500 500 500 500 500

Definitions Analytical NumericalMulti-Unit Ownership

Miscellaneous


Real Estate QUIZMASTER

100 100 100 100 100

200 200 200 200 200

300 300 300 300 300

400 400 400 400 400

500 500 500 500 500

Definitions Analytical Numerical MiscellaneousMulti-Unit Ownership


Definitions for 100

As defined in the Rectangular Survey System, an area of land approximately six miles on each side containing about 23,040 acres of land


Definitions for 200

________ Estates are those types of land interests that are unlimited in the length of their duration


Definitions for 300

These types of tenants hold title together to the same property but each has an individual interest in the property


Definitions for 400

This type of easement is created when one party uses another tract of land for access without permission of the land owner


Definitions for 500

This type of partner has full and complete liability in a Limited Partnership


Analytical for 100An LLC seems to combine the best of both worlds from partnerships and corporations because one of its attractive features is that it pays no ____ taxes


Analytical for 200

There is no right to access to light that comes from the _____


Once the house is constructed and attached to the _____, it becomes real property

Analytical for 300


The greater the degree of attachment and the greater the damage that will occur should the personal property be removed, the ________ the likelihood that an item will be classified as real property

Analytical for 400


Analytical for 500

As long as income and gains are ______ by REITs, there is no double taxation


The land owner actually does hold title to the surface property located beneath the unit in this type of real property

Multi-Unit Ownership for 100



This type of real property is a lease for a limited time at a fixed time each year


A living arrangement in which the dwellers of multi-unit housing own an undivided interest in their unit through their ownership of a corporation




These are created by a Master Deed


DAILY DOUBLE


A lease for a limited time at a fixed time each year is also called a _______ lease

Daily Double Multi-Unit Ownership for 500


Numerical for 100

The GPS System has ____ feet accuracy


Numerical for 200

REITs must have at least ______% of the assets as real estate interests, cash or government securities or mortgages secured by real property


Numerical for 300

The column lot is the space between the surface of land and _________feet above the surface


Numerical for 400

The REIT must be held by at least ________ persons during 335 days during the taxable year


Numerical for 500

The GPS Operational Constellation consists of 24 satellites that orbit the earth in ____ hours


Miscellaneous for 100

U P A



The four unities of a joint tenancy are possession, interest, ______ and title



The water rights system followed in those U.S. states with more plentiful water supplies



This is currently the most popular form of structure for privately owned businesses and investments, especially in Real Estate



Election of this status with the IRS allows a corporation to have some of its income and losses flow through to its shareholders

Real Estate QUIZMASTER

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