The objective of this course is to impress the meaning of real property ownership and the difference between real estate and personal property on the student. Although these terms are commonly used interchangeably in everyday conversation, there are different rights associated with these different commodities. It is important that licensees understand the differences between them and are able to explain the distinctions to their clients and customers.

This module addresses the following topics:

• Personal and Real Property Ownership
• Land Description
• Controlling Development
• Real Estate Practice Lesson

In accordance with TREC rules, Sections 535.71 and 535.72D, this module will describe how different commodities—land, real estate, and real property – transfer and are related and to one another. In addition, the student will learn about land use theory and come to understand how our federal, state, municipal and private authorities govern and plan our communities. This module covers legal descriptions as well as informal descriptions, the development of these concepts and the role they play in the real estate industry.

This module’s final lesson presents real-world dilemmas and provides opportunities to apply the information covered in the rest of the course. As the student completes this module, he or she should try to develop a broad understanding of real property use and to place this understanding within the larger context of real estate practice as a whole. This final lesson aims to help the student achieve this goal using comprehensive content questions, practice examples and case studies.

Learning Objectives

Upon completion of this module, the student will be able to:

• Describe the difference between land, real estate and real property.
• Recognize the difference between real property and personal property.
• State the definition of a fixture.
• Explain the general character of surface, subsurface and air rights, as well as littoral and riparian rights.
• Outline the basic features of the metes and bounds survey method and the rectangular survey method.
• Distinguish the vertical method of land description from other survey methods.
• Name the basic public and private methods employed to control the use and development of land.
• Outline the “highest and best use” theory of land use.

Approved Course Number:

03-00-100-7482