Solutions to Questions – Chapter 1
Real Estate Investment: Basic Legal Concepts
Question 1-1
What is the difference between real property and personal property?
Question 1-2
What is meant by an estate? Why are estates important in real estate finance?
Question 1-3
How can a leased fee estate have a value that could be transferred to another party?
Question 1-4
What is an abstract of title?
Question 1-5
Name the three general methods of title assurance and briefly describe each. Which would you recommend to a
friend purchasing a home? Why?
Question 1-6
Would it be legal for you to give a quitclaim deed for the Statue of Liberty to your friend?