ECONOMICS
SAVING AND INVESTING
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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True
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False
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Either A or B
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None of the above
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Detailed explanation-1: -Real estate is defined as the land and any permanent structures, like a home, or improvements attached to the land, whether natural or man-made. Real estate is a form of real property.
Detailed explanation-2: -The owner of real property has all of the rights of ownership, including the right to possess, sell, lease, and enjoy the land. Real property may be classified according to its general use as residential, commercial, agricultural, industrial, or special purpose.
Detailed explanation-3: -Realis is a Latin term that means existing and true. According to Etymonline.com, real is used in a legal context in Middle English to reference immovable property (i.e., a house, building or structure), as opposed to personal property, such as clothing or furniture.
Detailed explanation-4: -Fee simple is the highest form of ownership-it means the land is owned outright, without any limitations or restrictions other than local zoning ordinances.