20 Real Estate Questions
Or, WHY YOU NEED THE ENCYCLOPEDIA OF REAL ESTATE TERMS
1. What is the difference between open market value (OMV), market value (MV), fair value (FV), and fair market value (FMV) and where would you find the most widely used explanation(s) of these terms?
2. How does a color of title affect a right to adverse possession?
3. If it's called a condominium (or condo) in the US and strata title (or a unit) in Australia what is the equivalent in the UK and France?
4. What are the four essential requirements for an easement and if you are not sure where would you readily find these?
5. How do you measure GEA, GIA, GLA, NIA, NLA and RA and who provides the most detailed explanation(s) for their use?
6. What is a reasonable restraint on alienation?
7. What is the rule in Dumpor's Case and the rule in Shelly's Case?
8. If an American appraiser refers to an Inwood factor what would an English valuer understand it to mean?
9. In the US it's called a homeowners' association (HOA) (or condominium owners' association), in Australia a body corporate (owners corporation or strata company), what is it called in the UK?
10. What is the formula to find the annuity one will purchase or the NPV?
11. At the end of a bail à construction or an emphyteotique lease who owns the permanent buildings on the land and which books would give you detailed information on the subject?
12. What is the difference between a determinable interest, a conditional interest, and a contingent interest and a contingent remainder?
13. If there are 'approaches to value' in the US what are they called in the UK and what are the four principle means used for carrying out valuation or an appraisal?
14. Where would you find the titles waiver in Am.Jur., C.J.S., and Halsbury's Law of England and what cases best explain the difference between waiver and abandonment?
15. Can a mortgagee secure a collateral advantage when granting a mortgage so as not to create a clog on the equity of redemption?
16. How do you convert a Township into hectares and ares into square feet?
17. What did the US Supreme Court say about native title in 1923, 1836 and 1955, the Privy Council in 1957 and 1991, and the Supreme Court of Canada in 1997?
18. Is a tenant for life impeachable for voluntary waste and is a tenant for a term of years liable for permissive waste?
19. What is the connection between Sir Richard Torrens and a good title?
20. What is the difference between spot zoning and a floating zone?
(Terms in bold are defined and explained in detail in the Encyclopedia.)
To answer all these questions could take hours.
However, the answers to these questions and to many more can be found in the
Encyclopedia of Real Estate Terms
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