876 Ind. Admin. Code 2-8-1

Current through October 31, 2024

Section 876 IAC 2-8-1 - Basic real estate concepts

Authority: IC 25-34.1-2-5

Affected: IC 25-34.1-5

Sec. 1.

(a) The competency and instructional level for subdivisions (1) through (4) is Level 1. The following are general characteristics of real estate:

(1) Terminology.

(2) Classes of property. (Cover in greater depth under section 2 of this rule.)

(3) The following characteristics of land:

(A) Immobility.

(B) Permanence.

(C) Uniqueness.

(4) The following characteristics of land:

(A) Scarcity.

(B) Permanence of investment.

(C) Location.

(b) The competency and instructional level for subdivisions (1) through (4) is Level 1. The following are general concepts of land use and investment:

(1) The highest and best use concept.

(2) Public and private land use restrictions. (Cover in greater depth under section 4 of this rule.)

(3) Real estate investment objectives.

(4) The real estate market.

876 IAC 2-8-1

Indiana Real Estate Commission; 876 IAC 2-8-1; filed Dec 1, 1989, 5:00 p.m.: 13 IR 638; readopted filed Jun 29, 2001, 9:56 a.m.: 24 IR 3824; readopted filed Jul 19, 2007, 12:57 p.m.: 20070808-IR-876070067RFA; readopted filed November 25, 2013, 9:21 a.m.: 20131225-IR-876130283RFA