Workshop 1 Fina 680 Real Estate
SISTEMA UNIVERSITARIO ANA G MENDEZ
UNIVERSIDAD METROPOLITANA
FINA
WORKSHOP 1
JENNIFER MARTINEZ
ORLANDO, 2014
a. What is the difference between real estate and real property?
Real property is also termed realty and immovable property.
Real estate is a legal term that encompasses land along with improvements to the land, such as buildings, fences, wells and other site improvements that are fixed in location -- immovable.
Real estate refers to the physical land and improvements constructed on the land, while real property refers to the ownership rights associated with the real estate.
b. What is meant by an estate? Why are estates important in real estate finance?
Estate is used to denote a possessory or potentially possessory interest in real estate. However, not all interests in real property are estates. Ownership can be quite different from possession and a variety of legal factors affect the ownership rights associated with real estate. The economic benefits expected by lenders, investors, and other parties in real estate transaction are affected by these legal factors.
c. How can a leased fee estate have a value that could be transferred to another party? The original fee owner can give up some property rights to a lessee. The value of the leased fee estate will depend on the amount of lease payments expected during the term of the lease plus the value of the property when the lease terminates and the original owner receives the reversionary interest.
c. What is an abstract of title?
An abstract of title is a historical summary of the publicly recorded documents that affect title.
e. Name the three general methods of title assurance and briefly describe each.
Which would you recommend to a friend purchasing a home? Why?
General Warranty Deed - the grantor warrants that the title he/she conveys to the property is free and clear of all encumbrances, other than those that are specifically listed in the deed. Special Warranty
UNIVERSIDAD METROPOLITANA
FINA
WORKSHOP 1
JENNIFER MARTINEZ
ORLANDO, 2014
a. What is the difference between real estate and real property?
Real property is also termed realty and immovable property.
Real estate is a legal term that encompasses land along with improvements to the land, such as buildings, fences, wells and other site improvements that are fixed in location -- immovable.
Real estate refers to the physical land and improvements constructed on the land, while real property refers to the ownership rights associated with the real estate.
b. What is meant by an estate? Why are estates important in real estate finance?
Estate is used to denote a possessory or potentially possessory interest in real estate. However, not all interests in real property are estates. Ownership can be quite different from possession and a variety of legal factors affect the ownership rights associated with real estate. The economic benefits expected by lenders, investors, and other parties in real estate transaction are affected by these legal factors.
c. How can a leased fee estate have a value that could be transferred to another party? The original fee owner can give up some property rights to a lessee. The value of the leased fee estate will depend on the amount of lease payments expected during the term of the lease plus the value of the property when the lease terminates and the original owner receives the reversionary interest.
c. What is an abstract of title?
An abstract of title is a historical summary of the publicly recorded documents that affect title.
e. Name the three general methods of title assurance and briefly describe each.
Which would you recommend to a friend purchasing a home? Why?
General Warranty Deed - the grantor warrants that the title he/she conveys to the property is free and clear of all encumbrances, other than those that are specifically listed in the deed. Special Warranty
References: http://www.realestateforum.com/real-estate-investment/17571-difference-between-real-estate-real-property.html. http://www.realestateforum.com/real-estate-investment/17571-difference-between-real-estate-real-property.html http://www.realestateforum.com/real-estate-investment/17571-difference-between-real-estate-real-property.html https://answers.yahoo.com/question/index?qid=20061205164955AAKbqhN