Back to AI Flashcard MakerEducation /Real Estate Notes PSI Exam Prep: Property Ownership Part 2
1/2 base length × height
Area of triangle
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Key Terms
Term
Definition
1/2 base length × height
Area of triangle
One square yard =
nine square feet
Square feet ÷ nine =
square yards
Square yards × nine =
square feet
What does ANSI stands for?
American National Standards Institute
what does the American National Standards Institute (ANSI) do?
sets standards for measuring structures.
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| Term | Definition |
|---|---|
1/2 base length × height | Area of triangle |
One square yard = | nine square feet |
Square feet ÷ nine = | square yards |
Square yards × nine = | square feet |
What does ANSI stands for? | American National Standards Institute |
what does the American National Standards Institute (ANSI) do? | sets standards for measuring structures. |
these can only be included if attached to the main property via stairways or hallways. | Finished spaces |
Example The living room of Trixie’s house is 15 feet by 13 feet. The dining room is 12 feet by 13 feet. How many square feet is this entire area? | (15 × 13) + (12 × 13) = 195 + 156 = 351 square feet |
Jonathan’s 3,200 square foot home sold for $425,000. The price per square foot is | $425,000 ÷ 3,200, or $132.81. |
What does GLA means? | Ground Living Areas |
GLA may include stairways and closet and finished attic or basement square footage if ceiling height is at least | seven feet. |
Covered, enclosed exterior areas are included only if they’re heated using | the same heat system |
Additional finished buildings are usually included only if they’re attached to the main house by | a hallway or stairway. |
these include corridors, meeting rooms, lobbies, restrooms, and a proportionate share of any common areas and a typically excludes common areas, elevator shafts, stairways, and HVAC and other system equipment areas. | rentable areas |
One acre = | 43,560 square feet (memorize this one) |
Square feet ÷ 43,560 | acres |
Acres × 43,560 | square feet |
One mile = | 5,280 linear feet |
Linear feet ÷ 5,280 = | miles |
Miles × 5,280 = | linear feet (memorize this for your exam) |
One hectare = | approximately 2.47 acres |
Front foot (frontage) = | length of the property along a street, highway, or waterway |
Perimeter = | length and width of all sides added together |
One square mile = | 640 acres |
Example | A parcel of land is three-quarters of a mile by 2,800 feet. The price is $2,500 per acre. How much is the land worth? | 5,280 × .75 (3/4 of a mile) = 3,960 feet; 3,960 x 2,800 feet, or 11,088,000 square feet; 11,088,000 ÷ 43,560 (square feet in an acre) = 254.55 acres; $2,500 × 254.55 = $636,375 |
Example | A land parcel is 7,500 s.f. It’s 75 feet deep. What is the frontage? | 7,500 ÷ 75 = 100. The property is 75 feet deep by 100 feet long (frontage). |
Example | Trinity owns a land parcel that is a half-mile square. How many acres is it? | Each side of the parcel is 2,640 linear feet (5,280 feet in a mile).; 2,640 × 2,640 = 6,969,600 square feet; 6,969,600 ÷ 43,560 (square feet in an acre) = 160 acres |
Air lot heights are established by | the city or other governing authority that has jurisdiction. |
is a horizontal point of reference from which surveyors measure the depth and height of various land elevations. | A datum |
is a point where the exact elevation is known and marked with a brass or aluminum plate. Surveyors can use this as a starting point to measure other elevations. | A benchmark |
The three categories of water rights include | riparian rights, littoral rights, and the doctrine of prior appropriation. |
it address water that moves through a property, such a river or stream. these rights are classified into one of two categories based on the type of water: navigable or non-navigable. | Riparian rights |
address static water, such as a pond, lake, or ocean. Owners have the right to use and enjoy the static water but not divert or contain it. | Littoral rights |
it says that the first party to physically take water from a source and put it to beneficial household, agricultural, or industrial use will continue to have a claim to the water. | Prior appropriation |
Process by which water carries rock, sand, and soil and causes land build-up | Accretion |
New deposits of land that are the result of accretion | Alluvion |
Gradual loss of land due to a natural force | Erosion |
A sudden loss of land by a swift, large-scale change in water flow | Avulsion |
When water gradually recedes and uncovers new land | Reliction |
it is a claim against a property by a party that is not the owner. | Encumbrances |