Question 1 The short term supply of real estate is: Highly adaptable Elastic Dyn

Question

Question 1

The short term supply of real estate is:

Highly adaptable

Elastic

Dynamic

Inelastic

Question 2

Urban sprawl is said to cause:

A crime.

Urban decay and abandonment.

Air pollution.

All of the above are correct.

Question 3

To determine whether an item is a fixture, the Most important test is whether the:

Effort needed to remove the item is significant.

Value of the item is high.

Item must be dismantled for removal.

Person who installed it intended for it to be permanent.

Question 4

All of these systems are used to express a legal description EXCEPT:

Street address.

Rectangular survey.               

metes and bounds

lot and block
  

Question 5

In large high rise condominiums, each unit is owned by individual owners. The elevators, parking garage, and swimming pool are called:

common area elements

Proprietary elements

Community property

Separate property

Question 6

When a corporation takes complete ownership of a property, it is considered to be ownership in:

Joint tenancy

Tenancy in common

Severalty

Partnership

Could you PLEASE help me answer these?

this is about real estate

Thanks

Explanation / Answer

Since, the question has multiple parts, the first 4 questions have been answered.

___________________________

Question 1)

Inelastic (which is Option D)

_____________

Details Provided Below:

It is not possible to construct/develop buildings/real estate within a short period of time. It can take upto years before a real estate project undergoes implementation as several steps such as creating designs and maps, appointing engineers and related staff, obtaining licenses and permits from government, etc are required to be completed before the actual construction begins.

____________________

Question 2:

Air Pollution (which is Option C)

_____________

Details Provided Below:

The expansion of human population from main urban areas to nearby underdeveloped/rural land resulting in the development of buildings (residential and commercial) and other infrastructure in such areas is termed as urban sprawling. Most of the commutation will be done by cars in these areas. All of these factors can result in increase in pollution (both air and water). Option A and Option B are not correct because the objective of urban sprawling may involve movement/shifting from high crime areas and prevention of already developed (urban areas) resulting from overgrowing population.

____________________

Question 3:

Person who installed it intended for it to be permanent (which is Option D)

_____________

Details Provided Below:

Any item that is intended for fixed/permanent use is generally termed as a fixture. It means that the item will not be removed/dismantled or uninstalled in the near future. In terms of real-estate, it can be considered as a part (permanent) which is attached to the actual property.

____________________

Question 4:

Street Address (which is Option A)

_____________

Details Provided Below:

Besides Option A, all the three remaining methods (rectangular survey, metes and bounds and lot and block) are considered as legal methods of describing any real estate. Any method employed by the surveyor in assessing a property should be able to provide details such as dimensions of the property, exact location of the land, etc. Simply providing the street address can in no way provide such information to the surveyor.

Related Questions

Navigate

• Browse (All)
• Browse Q
• Subjects

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.