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2 years ago

Parking spaces in multiunit buildings, water rights, and similar things of value that convey with property are classified as

1 answer:

6 0

Parking spaces in multiunit buildings, water rights, and similar things of value that convey with property are classified as Appurtenances.

<h3>What Is Appurtenance?</h3>

In real estate, an appurtenance is something that is installed in or sits on a property. It is something that is considered a part of the property, is sold with the property, and it is passed on to the new owners.

When we talk about appurtenances we are often talking about things that run with the land. Appurtenance originates from the word 'appertain,' which means to relate to, be appropriate, or applicable.

Before defining appurtenance,

<h3>What is Real Property ?</h3>

In real estate, real property is defined as immovable or fixed property, any property attached to the land and even the land itself. This also includes permanent fixtures within the property, that are not personal property and easily moved.

Some common examples:

Exterior buildings (e.g., barn, shed)
a fence.
Inground pools.
hot water heater.
Ceiling fans.
Window blinds (if installed).
Fixtures (excluding trade fixtures).
Cabinetry.
Furnace.
Existing crops.
Oil or mineral rights.
A shared driveway (with attached easement appurtenant).
a tree.
Water rights (given to an adjoining property).
in-ground swimming pools.
Easements.

Appurtenances are important to understand as they can have an effect on landlord and tenant relations as well as that between buyer and seller.

Learn more about Easement Appurtenances on:

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3 years ago

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keep producing in the short run but exit the industry or go out of business in the long run

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A perfect competition is characterised by many buyers and sellers of homogeneous goods and services. Market prices are set by the forces of demand and supply. There are no barriers to entry or exit of firms into the industry.

In the long run, firms earn zero economic profit. If in the short run firms are earning economic profit, in the long run firms would enter into the industry. This would drive economic profit to zero.

Also, if in the short run, firms are earning economic loss, in the long run, firms would exit the industry until economic profit falls to zero.

A firm should shut down in the short run if price is less than average variable cost. But since the diner's price is greater than average variable cost, it should continue production.

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3 years ago

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3 years ago

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3 years ago

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