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Details Title: NC Real Estate Midterm Description: midterm study gide Total Flash Cards: 11 Created: 10/28/2005 11:41:43	To study from this set of flash cards, or to create your own your own study flash cards, register HERE. If you are already a registered user, CLICK HERE.
Cards Term Real Property Definition The land and everything that is permanently attached to the land, or goes with the land. Term Personal Property Definition everything that does not go with the land anything that is movable not permenetly atached to the land Term Chattels Definition Personal Property Term Land Definition earth's surface extending downward to the center of the earth and upward to infinity,includes such as trees minerals and water Term Real estate Definition land at, above and below earth's surface, includes all things permanently attached to int weather natural or not Term Real property Definition the interest benefits and rights inherant in the ownership of real estate Term Physical characteristics of land Definition immobility indestractibility and uniqueness Term Heterogeneity (nonhomogenety) Definition Uniqueness of the land Term Improvements Definition changes to land or a building that effects the property's value Term Broker Definition agent who negotiates the sale purchase or rental of property on behalf of others for a fee or commission Term Salesperson Definition agent that works on the behalf of the broker