David Saks: August 2012

David Saks - Real Estate Broker - The Real Estate Mart of Tennessee, Inc. - 4040 North Watkins-Suite #4 - Memphis, Tennessee 38127 - Phone (901) 357-4663

Real Estate Practice : Lesson 1777


A medical building owner wanted to convert the building into residential property and sell individual units in the building once the conversion had been completed.

When a building is converted into something other than which it was originally constructed or intended for this is know as modular reconstruction.

Is this true or false ?

Please take your time. The solution is posted below the wildlife photo.


A. False.

Modular reconstruction would rely on prefabricated or preassembled materials.

Although modular reconstruction may play a part in conversion of the building from which it was originally constructed for, the process of converting the building from commercial usage to residential is know as converted-use.

David Saks

Time&Temp Memphis

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Comment balloon 0 commentsDavid Saks • August 06 2012 10:52AM
Real Estate Practice : Lesson 1777
#1777 A medical building owner wanted to convert the building into residential property and sell individual units in the building once the conversion had been completed. When a building… more
Real Estate Practice : Lesson 1776
#1776 Some of the costs and expenses that have to be considered are the recurrent taxes on personal property. Is this true or false Please take your time. The solution is… more
Real Estate Practice : Lesson 1775
#1775 When the owner of the property signs an agreement allowing the tenant that signs the agreement to occupy, use and possess the property for a period of only six months the owner and… more
Real Estate Practice : Lesson 1774
#1774 A life-tenant by the name of Senderfell wants to dig up the earth around his property and sell it for gardening dirt-fill to a neighborhood nursery. A remainderman has been named… more
Real Estate Practice : Lesson 1773
#1773 Two property owners, Ben and Susan, who are not married, own a property together. Susan actually owns 75% of the property and Bob owns a 25% interest in the property. … more
Real Estate Practice : Lesson 1772
#1772 When property is transferred from one owner to the next this process is referred to as devise. Is this true or false Please take your time. The answer is posted below the… more
Real Estate Practice : Lesson 1771
#1771 When we consider participation in a REIT, a real estate investment trust, it is necessary to have at least 325 participants according to the legal statute. Is this considered true… more
R. E. Investor Pleads Guilty to Rigging Bids to Purchase Real Estate David R. Bradley Alabama, a real estate investor, pleaded guilty for his role in conspiracies to rig bids and commit mail fraud at public real estate foreclosure auctions… more
Former Title Agency Owner Sentenced for Mortgage Fraud Cynthia Darlene Strickland 46, Jacksonville, Florida, a licensed title agent and the owner of Premier Title Group, Inc. has been sentenced for bank fraud related to a mortgage fraud… more
Former Real Estate Developer Admits Fraud Scheme Thomas Joseph O'Meara, III 65, Palm Desert, California, a former Carmel, Calif., real estate developer pleaded guilty to wire fraud and money laundering arising out of his golf course… more