About This Chapter
Introduction to Real Property - Chapter Summary
This introduction to real property provides in-depth examinations of topics like trade fixtures, land surveys and characteristics of land. Review entertaining lessons to get reacquainted with ways to measure the area of a rectangle, calculate and convert acreage, and more. Once you've completed this chapter, you should be able to:
- Differentiate between real and personal property
- List and describe economic and non-economic characteristics of land
- Discuss emblements and rights as they relate to a profit a prendre
- Define attachments and severance in real estate
- Detail uses of a bill of sale
- Provide a legal description of property
- Identify and discuss tools used to survey real property
If you're strapped with a busy schedule, this chapter offers fantastic opportunities to study when most convenient. All lessons and other study resources are accessible 24 hours a day via any computer, smartphone or tablet. To make your exploration of this chapter even more effective, narrow down the lessons you will need to study most by gauging your knowledge with accompanying multiple-choice quizzes. Clarify any lesson concepts you don't fully grasp by sending questions to our subject-matter experts.
1. Real Property and Personal Property: Definition and Differences
Much of business law deals with property. There are actually two different types of property: personal property and real property. This lesson explains the differences between these two types of property.
2. Economic & Non-Economic Characteristics of Land
Land is one of our most important and valuable resources. Without it, we really would not be here. In this lesson, you'll learn about some of the economic and non-economic characteristics of land. A short quiz follows the lesson.
3. What is a Trade Fixture? - Definition & Examples
Commercial real estate can be complex, including what goes and what stays when a lease expires. This lesson will define trade fixtures, provide examples, and explain what happens to trade fixtures when the commercial tenant and landlord part ways.
4. Profit A Prendre: Emblements & Rights
Sometimes people have a legal right to take stuff on land you own. In this lesson, you'll learn about profit a prendre and related concepts in the context of real property law. A short quiz follows the lesson.
5. Attachments & Severance in Real Estate: Definitions, Examples & Laws
Considering what items must stay and what can go when selling a house can be confusing. Understanding attachments and severance can help make this process easier.
6. Bill of Sale: Definition, Components & Uses
A bill of sale is an important legal document that is used in real estate transactions. Learn the uses of a bill of sale and the types of documents that can be used.
7. Legal Description of Property: Definition, Importance & Example
The legal description of a property provides a clear and lawful definition of a property's boundaries. We will cover the importance of this document, the essential elements, and the methods surveyors use to create and confirm legal descriptions.
8. What is a Land Survey? - Definition & Types
Surveys are used to identify boundaries and features of land to determine ownership. They are employed in construction projects ranging from building fences to entire cities. In this lesson, you'll learn what a survey is and about the different types of surveys used today.
9. Tools Used to Survey Real Property
Some old legal descriptions of property involve chains, links and rods. You'll learn about these ancient surveying tools and how they translate into more conventional and familiar measurements. We'll also look at some of their modern counterparts.
10. Measuring the Area of a Rectangle: Formula & Examples
Look around you, and you see rectangles all over the place. And if you see paint, carpet, or anything that covers a rectangular area, you can be sure that someone has measured the area of the rectangle. Watch this video lesson to learn more.
11. How to Calculate & Convert Acreage
Accurate calculation of acreage is an essential skill in describing the physical geography of a plot of land. In this lesson we will look at the formulas for determining the area of a piece of land, and converting that number into different units of meaurement.
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Other chapters within the Indiana Real Estate Broker Exam Study Guide course
- Public & Private Land-Use Control
- Estate Ownership, Rights & Interest
- 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