Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Discussion Prompt: Chapter 1 explains the nature of real property, focusing on appurtenances, attachments, and land description. After perusing the chapter and reading the following

Discussion Prompt: Chapter 1 explains the nature of real property, focusing on appurtenances, attachments, and land description. After perusing the chapter and reading the following article from Apartment Therapy, answer the following questions under the prompts for all parts:

Part 1: Suppose youre showing a buyer a home thats for sale. They are wondering which of the furnishings, fixtures, and equipment will come with the house. What is the basic distinction that determines whether certain items are transferred along with a house?

Part 2: Brainstorm some situations in which air rights are transferred separately from land.

Part 3: Provide an example of a fixture and personal property. Then discuss why the distinction between fixtures and personal property is important in a sale of real estate.

Below is just an example of two different MLS listings showing one seller including the refrigerator in the sale and the other is not.

*Sometimes the seller may include items in the sale that other sellers may not as each sale is different. If there is ever a question as to whether an item transfers with the sale, it is the responsibility of the buyers agent to ask if something is included (and if not, may be added to the purchase agreement. Additionally, if the seller does not want the heirloom chandelier to convey, then the listing agent needs to state that information in the MLS listing.

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Management

Authors: Stephen P Robbins, Mary Coulter

11th Edition

9780273752776, 132163845, 273752774, 978-0132163842

More Books

Students also viewed these General Management questions