Real estate 18 cards

Tagged as: business, criminal justic, law

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1

What is the difference between real estate and real property?

Real estate- land and All things permanently attached to it. Vacant land or land w physical improvements consisting of a house and or structure Real property-real estate plus the interests, benefits, and bundle of legal rights inherent in the ow

2

Trade fixture?

An article owned by a tenant and attached to a rented space or a building for use in operating a business.

3

Chattel

Personal property item

4

SIPL

Scarsity Improvements Permanence Location

5

E and O insurance

Errors ad omission insurance- This insurance covers the negligence, wrongful acts committed by the licensee EXCEPT for fraud!

6

Types of housing

Single family, detached dwellings Apartment complexes Condominiums and cooperatives Planned unit development PUD Converted use property Retirement communities High-rise developments Manufactured housing (mobile home) Modular h

7

Transaction facilitator

You do not owe any dusty of confidentiality to either party and may disclose information

8

Transaction coordinator, client representative or dual facilitator

You may not disclose any information to either party except : -if disclosure is Required by law Intended to prevent illegal conduct Or is necessary to prosecute a claim against a person represented or to defend a claim against a licensee.