nevada real estate license state portion of the exam

NEVADA REAL ESTATE LICENSE STATE PORTION OF THE EXAM SERIES

Finally, 'alluvium' is a technical term for the silt/dirt moved by the river from Ulyanna's shores and deposited on Daniel's shores.Ī is incorrect. Here, what happened on Daniel's land is accession by accretion because the natural action of the river's water deposited silt on the shores of Daniel's property. 'Accretion' is accession that occurs through natural causes. As it pertains to real estate, 'accession' means to acquire more land, even a small amount of land.

NEVADA REAL ESTATE LICENSE STATE PORTION OF THE EXAM SERIES

This series of words best describes what has happened on Daniel's property. While topsoil or even a building can be moved, an entire parcel of real estate cannot be moved to a new location. Despite there being a lot of land, land is considered scarce as brand-new parcels of land cannot be created through human labor. Test-Taking Tip: Make sure you remember this rule for your exam: Land does not depreciate. Why not? Because, in contrast to a house or a building, an entire parcel of land does not wear out and need to be replaced. Test-Taking Tip: Because the words 'unique' and 'indestructible' are in each answer choice, you do not need to spend valuable exam time considering them.ī is incorrect.

Finally, land is considered scarce because entire new parcels of real estate cannot be manufactured.

Land is considered unique because, at the very least, each parcel of real estate has its own different and distinct place on the planet. Land is considered indestructible because, in contrast to buildings, an entire parcel of real estate theoretically cannot be destroyed and/or need to be replaced. Land is characterized as immovable because an entire parcel of real estate cannot be moved to another site.

Nevada real estate license state portion of the exam