Join the Distinguished Honorees

Reaching for Excellence

< All Topics
Print

Topics

Reading Time: < 1 minute

Property ownership (Salesperson 8%; Broker 10%)

A. Real versus personal property; conveyances

B. Land characteristics and legal descriptions

1. Types of legal descriptions; Metes and bounds, Lot and block, government survey

2. Measuring structures

3. Livable, rentable, and usable area

4. Land Measurement

5. Mineral, air, and water rights

C. Encumbrances and effects on property ownership

1. Liens

2. Easements and licenses

3. Encroachments

4. Other potential encumbrances of title

D. Types of ownership

1. Tenants in common

2. Joint tenancy

3. Common- interest ownership

a) Timeshares

b) Condominiums

c) Co-ops

4. Ownership in severalty/sole ownership

5. Life Estate ownership

6. Property ownership held in trust (BROKER ONLY)

certificate
Table of Contents