Property Ownership
In Alaska, a 'profit à prendre' is the right to:
AOccupy another's land
BEnter another's land and remove natural resources (timber, minerals, game)✓ Correct
CReceive income from another's land
DPurchase another's land at a set price
Explanation
A profit à prendre is the right to enter another's land and take something from it — such as timber, minerals, fish, game, or peat. Unlike an easement, a profit involves removing something from the land.
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Key Terms to Know
Easement
A non-possessory right to use another person's land for a specific purpose.
Option ContractA contract giving the buyer the right, but not the obligation, to purchase a property at a specified price within a specified time period.
Loan-to-Value Ratio (LTV)The ratio of a mortgage loan amount to the appraised value or purchase price of a property, expressed as a percentage.
Debt-to-Income Ratio (DTI)A lender's measure of a borrower's monthly debt obligations relative to their gross monthly income, used to evaluate loan eligibility.
Math Concepts
State-Specific Concepts
DRE Regulation
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