Ch 4: Real Property Ownership

About This Chapter

This chapter delves into numerous forms of estates, leases, and related aspects of real property ownership. You'll get a better idea of the regulations that accompany the selling, buying, and leasing of property.

Real Property Ownership - Chapter Summary

This chapter is all about different types of property ownership and the laws pertaining to them. You'll learn about key considerations for landlords, tenants, business owners, and estate owners, as well as related real estate terminology. By the end of the chapter you'll have strengthened your grasp of the following:

  • Freehold and concurrent estates
  • Condominium ownership
  • Forms of real estate leases
  • Distinguishing between residential and commercial lease provisions
  • The rights and obligations of landlords
  • Landlord and tenant rights when a lease is breached
  • Business ownership and organizational composition

You can make use of the practice quizzes accompanying every lesson to monitor your understanding of each topic along the way. These interactive assessments are available to return to at any point, and are also printable as worksheets if you'd like to study with them offline. You can always seek help from our professional instructors through the teacher or help tab.

8 Lessons in Chapter 4: Real Property Ownership
Test your knowledge with a 30-question chapter practice test
Freehold Estates: Definition & Key Terms

1. 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.

Types of Concurrent Estates

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.

Condominium Ownership: Definition & Considerations

3. Condominium Ownership: Definition & Considerations

Owning a condominium is significantly different than owning a detached house on your own lot. In this lesson, you'll learn about what exactly a condo is, it's key characteristics, and other considerations. A short quiz follows the lesson.

Types of Leases in Real Estate

4. 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.

Residential & Commercial Lease Provisions

5. Residential & Commercial Lease Provisions

Real estate leases outline the rights and responsibilities of landlords and tenants in both residential and commercial rental properties. In this lesson, you'll learn about common provisions that are found in residential and commercial leases.

Landlord Rights & Responsibilities

6. Landlord Rights & Responsibilities

In this lesson, we will explore a landlord's legal rights and responsibilities in regard to their rental properties and tenants. We will discuss warranty of habitability, disclosure issues and lease inclusions.

Landlord & Tenant Rights After a Breach of Lease

7. Landlord & Tenant Rights After a Breach of Lease

If either a landlord or tenant breaks a portion of the lease agreement they still retain specific rights. In this lesson we will explore a few examples of breaches of lease and how each person's rights are involved in those situations.

Organizational Structure & Ownership of a Business

8. Organizational Structure & Ownership of a Business

There are four ways a business can be organized: sole proprietorship, partnership, limited liability, and corporation. Each form of ownership takes on a different structure with regards to tax liabilities, income, and risks.

Chapter Practice Exam
Test your knowledge of this chapter with a 30 question practice chapter exam.
Not Taken
Practice Final Exam
Test your knowledge of the entire course with a 50 question practice final exam.
Not Taken

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