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Real Property Rights | Real Estate Exam Prep Videos - YouTube
Channel: The Real Estate Classroom
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everyone my name is Paul V Chesky and
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welcome to the real estate classroom
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YouTube channel in today's video we're
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gonna discuss some key real estate terms
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that you're gonna need to know for your
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real estate licensing exam and those
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terms are real property rights which
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include her etem its land real estate
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real property tenements corporal and in
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corporal rights and bundle of rights so
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the first thing we want to talk about
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the first key word we want to talk about
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is her etem ins
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now her etem ins is one of those real
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estate terms key terms that you have to
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know her etem ents are broken broken
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down into three subcategories of Rights
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depending on the land that you owned and
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what's on it so for example land is the
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first one that's number one and this is
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just raw land alright and this is from
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the boundary lines extending to the
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center of the earth and theoretically
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extending all the way into the heavens
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now we know that the government for
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example has placed some restrictions on
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what you own in which you can do with
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that but the fact of the matter is raw
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land includes boundary lines all the way
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to the center of the earth extending
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into the heavens
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now the second classification is real
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estate the first one was land the second
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one is real estate and real estate
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includes the the land and the
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improvements which will include anything
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that that's been built upon it for
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example a house a garage a barn a
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parking lot anything like that that's
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considered an improvement so real estate
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is the land and all the improvements
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that are on that land alright the third
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subcategory of a heretic --nt is real
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property and real property is the land
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it is the real estate and it's what we
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call the rights and the privileges of a
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private ownership the rights and the
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privileges now there is a key term that
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we have to know here the rights and the
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privileges that exist is called a
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tenement or tenements that's the legal
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term for it and a tenement is what we
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call corporal and in corporal rites more
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of those real estate terms that you need
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to know a corporal right is something
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that you can touch it's tangible so for
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example you have a right to it for
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example all the trees and the shrubs
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that are on the that are on the property
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they're yours you own them and you could
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do what you want with them but they're
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tangible you can touch and you can feel
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them intangible or in corporal rights
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are things that are intangible things
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that do exist but you can't touch or
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feel of that for example an easement is
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is something that's real it passes with
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the title it is something that an owner
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has to deal with it exists however you
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can't touch or feel it it's an it's
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intangible so it's called a in corporal
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right now there is another concept here
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and we're not going to talk too much in
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detail in this video I'm going to do
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another video on it but we have what's
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called the bundle of Rights the bundle
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of Rights is every right and privilege
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that an owner has it includes the right
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to sell it to lease it to to will it or
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bequeath it and all this other bundle of
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Rights when we combine the totality of
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the rights and the privileges those
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tenements that is called a bundle of
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Rights and we'll discuss that in a
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different video all right so just to
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recap here her etem it's is the largest
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classification of real property rights
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that someone has in their their in their
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property it includes land real estate
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and real property and don't forget that
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under real property we have not only the
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land ownership all the improvements that
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we own that's on that land and all the
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rights and privileges that go along with
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owning that property fee simple absolute
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it's all I got for this video do me a
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favor if you would if you have a
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question or you're unclear on something
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put it down in the comment section if
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you've already taken your exam do me a
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favor if you had any question about this
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please put it down in the comment
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section to share with the community and
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last but not least if you have not taken
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your real-estate exam yet best of luck
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see you in the next video
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