Category: Real Estate Terms
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The Situs Term In Real Estate
Situs is one of those funny terms in real estate that many people may hear but are not sure what it means. Situs is a legal term that refers to the location or jurisdiction of where the property is located. Situs does not have to do with just real estate property but can be for…
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What Is A Life Estate? Real Estate Explained
There is a term used for property owners as a life estate in real estate. The life estate is used quite a bit in the United States for trust transactions. A life estate is when a person is granted the right to use the property for the term of their life. Once the life estate…
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The Legal Description of Property Importance In Real Estate
When purchasing land, you need to understand the legal description of a property and why it is essential for your real estate purchase. The legal description of the land or property is a written record that will show precisely what land it is yours. It is a legal document that can be used if a…
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What Are The Economic Characteristics Of Real Property?
There are several economic principles and characteristics of real property or real estate. Understanding these principles is essential for you to understand your real estate investment. These four real property principles are the economic principles of land and real estate investments. The four basic principles of real property investments include scarcity of real estate, the…
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Why Is Real Estate In Utah So Expensive?
I have been checking the rates for Utah Real Estate the last few years and have been shocked, like many people, by what some houses are going for in certain areas. Utah’s real estate is expensive due to the supply and demand economic principle. Housing prices have risen so high over the last few years…
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The Real Estate Bundle Of Rights Explained
When looking to buy, sell or learn about real estate, you must understand some terms that people will use together with real estate. One of these terms is known as the bundle of rights. A bundle of rights is your right as a property owner. It is all the different rights you have to your…