About This Chapter
Estate Ownership, Rights & Interest - Chapter Summary
This chapter goes over various aspects of estate ownership, rights and interest, including freehold estates, real estate leases and concurrent estates. Refresh your knowledge of these and other topics by studying entertaining lessons. In no time, you will be able to:
- Define and share examples of estate in severalty
- Identify and discuss types of concurrent estates
- List and define key terms associated with freehold estates
- Describe real property interest
- Outline the history of the bundle of rights in property law
- Exhibit knowledge of extent of ownership and real property
- Share types of leases in real estate
- Discuss characteristics of real estate liens
All study tools in this chapter are accessible 24/7 using any computer or mobile device. Feel free to explore the lessons and take accompanying quizzes at the pace you prefer. If you need help understanding concepts covered in this chapter, don't hesitate to submit questions to our subject-matter experts. Before exam day, be sure to gauge your overall comprehension of this chapter by taking our practice test.
1. Estate in Severalty: Definition & Examples
In this lesson, the definition of estate in severalty will be provided. Examples of estates in severalty will be given to provide the reader with a better understanding of this type of estate.
2. Types of Concurrent Estates
Real property may be owned by just one person or many. In this lesson, you'll learn about concurrent estates and the various ways multiple people can hold the same parcel of land. A short quiz follows.
3. Freehold Estates: Definition & Key Terms
There is more than one way to own property, and not all types of ownership are equal. In this lesson, you'll learn what a freehold estate is and the different types of freehold estates one might encounter. A short quiz follows the lesson.
4. Interest in Real Property: Types of Estates
There are several different ways a party can own an interest in real property. There are possessory types of interests and non-possessory types of interests. This lesson explains the main types of real property ownership.
5. Bundle of Rights in Property Law: Definition & History
This lesson will discuss the bundle of rights in property law and will provide a summary of how these rights came to be in America. Upon completion, the reader should have knowledge of the bundle of rights and the history behind it.
6. Extent of Ownership and Real Property: Air, Surface & Subsurface
When you buy real property, you gain several different kinds of rights. You'll likely own a bundle of rights that includes more than just the surface area of the land. This lesson explains air, surface, and subsurface rights.
7. Types of Leases in Real Estate
A contract between a landlord and a tenant is a lease. In this lesson, you'll learn about different types of leases in typical real estate transactions including residential leases and commercial leases. A short quiz follows.
8. Real Estate Liens: Overview & Characteristics
Liens are one of the most common encumbrances on real estate. In this lesson, you'll learn what a lien is, ways they can be created, lien priority and termination, among other related concepts. A short quiz follows.
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Other chapters within the Indiana Real Estate Broker Exam Study Guide course
- Introduction to Real Property
- Public & Private Land-Use Control
- Deeds & Property Transfers
- Property Titles
- Property Value & Appraisal
- Introduction to Real Estate Contracts
- Real Estate Agencies & Agency Relationships
- Listing Agreements & Property Management
- Fair Housing & Consumer Protection
- Risk Management in Real Estate
- Property Disclosures
- Introduction to Real Estate Financing
- Real Estate Lender Requirements
- Federal Real Estate Financing Regulations
- Closing & Settlement Real Estate Transactions
- Real Estate Investments
- Indiana Real Estate Commission & Licensing
- Indiana Real Estate Law
- Real Estate Business Procedures
- Indiana Real Estate Broker Exam Study Guide Flashcards