real estate quizlet final exam

Will they be permitted to do so? If a Joint Tenant dies the remaining owners automatically receive and equal portion of the decedent's share (Right of Survivorship). Forklift: plant asset No. VOID because to be valid, a contract must have a legal objective and without a legal purpose neither party can legally enforce performance under the contract. Two common forms of contracts that are very important to a licensee are: (!) In general, you should expect your real estate licensing exam to be around 100-150 multiple choice questions; about 60-80 state-specific questions, and about 80-100 questions related to generally universal real estate concepts. protect the general public in real estate transactions, the primary purpose of the New Jersey Real Estate Commission is to, a brand new cadillac sedan is included in the sale price, what will result in an automatic revocation of your real estate license, the NJ law against discrimination does NOT cover which classification in the sale or rental of residential property, guiding prospective buyers to a particular area because the agent feels they belong there, in NJ, a conveyance of two persons, either married or living in a civil union, creates a, contracted with the buyer to provide the rebate at the onset of the broker relationship, a broker is permitted to pay a rebate to a buyer as long as they have, yes, they will be able to pay off the loan without a prepayment penalty. Received cash in full payment of Bakery Depot's account, previously written off as uncollectible, $\$1,896.00$. Any statement that earnest money is required or must be a certain amount or percent of the sale price to have a valid contract is FALSE. A property that is valued so much above the typical market price (such as a multi-million-dollar home) may require special advertising in media that reaches beyond the local market, such as. All states require real estate agents to be licensed by the state to engage in the sale of real estate. Signed a 90-day, $10\%$ note, for $\$12,000.00$ with Northstar National Bank. Real Estate Terminology 9781423216667 Exam Online Flash Cards For New Born Baby 1 Year Old. When an appraiser has completed all of the relevant calculations and comparisons involved in the three approaches to value, he will not average the numbers, he will consider all numerical and conditional factors available in his analysis and RECONCILE the numbers to estimate the VALUE of the subject property. a. A promissory note and an amortizing mortgage have a due-on-sale clause that allows lenders to call the entire balance due and payable immediately if the borrower defaults on the loan. In what way is buying insurance protection a trade-off? Real Estate License Exams For Dummies Cheat Sheet. C347. It is a useful tool to help determine the annual rental income for the property, a number that is important to estimate value. A will only takes effect ______, Real property that is transferred according to someone's last will and testament is known as a _______________. Building a warehouse in a neighborhood zoned residential would be a violation. So, 5,280 x 5,280 = 27,878,400 square feet. What term is used to describe revocable permission for the temporary private use of someone's property. When a property is for sale but the debt is greater than the market value, sometimes the lender will agree to a ________ and take less than is owed on the property to avoid foreclosure. A rent roll is a listing of occupied units in an apartment complex and the amount of money each is currently paying or will be required to pay in the future. The term referring to a section of the Truth in Lending Law that only has to do with advertising the lending or financing terms related to a real estate transaction. a. real and personal property as security for the loan. That's why agency disclosure laws exist. An owner, a trustee or an executor of an estate does NOT have to have a real estate license to have the legal authority to sign a contract to sell property that is owned by the estate. CA Real Estate Principles Exam Flashcards Quizlet March 8th, 2019 - Prepping for State Exam using Principles Learn with flashcards games A _____ is used to collect delinquent taxes by "selling the tax lien" to someone who will most likely simply collect interest when the property owner finally does pay the taxes. What is an advantage to a VA loan compared to a traditional mortgage? What are his other alternatives? Oklahoma Real Estate License Code specifies that it is acceptable for any person who is a resident of a rental unit may be paid a "resident referral fee" of not more than. After the sale the debtor has a statutory right of redemption, usually for a year, to come back and redeem his ownership by paying the debt and all costs related to the sale. property restrictions terminated by non-enforcement. Rockwell Exam Real Estate Classes WA Final Exam A buyer purchases a rental home that is fully furnished. What are the most common changes made to a listing agreement? _____ Agency means one agent, but the owner can sell, too. How Many Questions Are In the Real Estate Exam? Sold merchandise on account to Huang Restaurant, $\$5,000.00$, plus sales tax. Restaurant Warehouse offers sales terms of 2/ 10, n/ 30. A licensee should track and repeat those direct e-mail advertising campaigns that show results. An escrow account ledger would contain names of all parties to a transaction, the amount of escrow funds the sponsoring broker received, and the date the broker received the funds. 00$; and federal unemployment tax, $\$8.00$. Fill in the bubble sheet for each answer. Nonresidential real estate purchased since 1987 must be depreciated using: - both 39 years for the. Yes. loans a percentage of, the right that the government hats promulgate and enforce laws necessary for the protection of the general public is known as, when a person gives power of attorney to another, the one entrusted with his power is known as the, according to the statute of frames, all agreements must be reduced to writing, except, when a person makes an offer on a property, the down payment or deposit evidencing good faith is referred to as, when a seller agrees not to list the property with any other broker, but reserves the right to sell the property himself, he has entered into what type of listing agreement. This is an example of a (n) ______ contract. A seller who only wants to warrant no problems during the period of time he owned the property will provide a___________. 30. Reassessing the tax classification for a single property is called ___. A listing agent represents sellers while a selling agent represents buyers, The death of either the selling broker or buyer does NOT usually terminate a listing. (5:00 PM doesn't mean 5:15PM). That study guide is free. Ad Valorem Taxes are based on the assessed value of the real property. Suzy and Jerry live in a co-op, when they purchased their apartment they automatically become lessees and: the four unities to create a joint tenancy are: in a mortgage, sometimes called a "due on sale" clause, what deed provides the grantee with the least protection of any deed, investors in real estate investment trusts take advantage of the same tax benefits as, the legal process by which a court determines who will inherit the property of a deceased, when you die without a will and there are no heirs, the government takes the property, the cost approach would likely be considered applicable in appraising which property, mortgage lenders make many loans with the intention of selling them on the, in planning a subdivision, a subdivider drafts a map of the development that shows the location and boundaries of individual properties. laws governing the occupations of real estate license holders (brokers/sellers) and real estate inspectors Homestead limits urban environment, max amount of land can't exceed 10 acres (contiguous) Rural property, max is 200 acres for Family, and 100 acres for a single Rights associated with water riparian littoral encumbrance This interest that the tenant has in the landlord's property, which exists for a definite time period is called _______. They fell in love and get hitched, signing a marriage certificate. what is not a necessary part of the exclusive listing agreement, a terminations date, description of property, and selling price, what is a necessary part of the exclusive listing agreement, the discount charged by a lender and paid by the seller on a V.A. Course Final Exam Proctoring. A _____ is charged with managing the Trust. Now that I'm about to finish the course and take the practice exam i was reading the section named "it's time to prepare for your exam" and it says at the very end "A final note. The a term used when merging a lot with an adjacent property with the result that the larger property has more value. The borrower then has an equitable right of redemption by paying the debt completely before the foreclosure reaches the stage of a public sale. d. $15,600. Anything of the neighbors that extends across a property line, such as a fence, or a portion of a building or even a part of a garden, without the owner's permission, is an ______. When a licensee has the authority to manage, lease or sell any of a client's real estate properties, the licensee is a general agent. ", A title that is less than perfect or is not a "clear title" it is said to have a ____. When a homeowner has received a deed transferring title which contains a full bundle of rights (Exclusive right to occupy, right to enjoy without interference and right to waste destroy or sell/lease) he is said to have a ________. A lease that requires the tenant to pay, in addition to rent, some or all of the property expenses that normally would be paid by the property owner. Georgia Real Estate Exam Prep admin 2022-10-28T18:42:26-04:00. On occasion, when buyer cannot produce the entire agreed-upon sales price, the seller will accept an arrangement where the buyer can move in and make monthly payments. This will of course mean protecting the property, maintenance and repair, collecting rents, etc. 6. Whatever, yesterday I took the pre final exam after studying for 8 hours. Received cash for the maturity value of NR28, a 90- day, $12\%$ note for $\$11,600.00$. Mike waited until the end of the month. A typical residential septic system for a property outside of the community's sewer system will have a distribution box for treating effluent and an underground septic field for the distribution of the treated effluent. In that case the contract will be declared NULL and VOID. When a property has been on the market for a long period of time; when the buyer and the seller are not related; when both parties have a good knowledge of the property's condition; when neither is under undue pressure, the agreement they reach is referred to as an. Earnest money is not required at all to make a contract binding. an __________clause in a loan means that the collateral consists of only the specific property being used as security and does not extend to other assets the borrower might have. This Product Has 52 Different Flashcards For Items Around The House Each Card Two Versions One With Wor Vocabulary Words Best Cfast 2.0 Reader Evidence Law. Between the two is something referred to as a life tenancy - a person who has a Life Estate that has limited rights like a tenant and an unknown term length. The document, as altered, becomes a new offer, perhaps with handwritten changes initialed by the offeree (who now becomes the offeror of the new offer). But PUBLICLY OWNED property that has been acquired through Eminent Domain can be LEASED to a private entity for a use that the public will have access to, and the right to enjoyment such as a sports complex or entertainment center. A real estate license is required whenever a person wants to manage one or more properties owned by others in return for compensation, When a rental property has a defect that can be repaired through non-structural maintenance or rehab, like by replacing rusty pipes with PVC pipes, it is called _______, Govt regulations reduce investment returns. Then he uses the three approaches to appraisal to try to support the contract price the buyer and seller agreed upon. Taxes owed are: social security tax, $\$342.24$; Medicare tax, $\$80.04$; state unemployment tax, $\$54. Adding a new porch to property will also add to, or contribute to, the property's market value. _____ Listing means multiple agents and the owner can market the property. Zoning laws can also regulate what kinds of animals can be kept on a property. When an owner who is a joint tenant or a tenant in common wants to sell her portion or the property ownership and exit the relationship, but the other owners won't cooperate, she may have to file a ______ in civil court to have the property sold to the highest bidder. But any covenants (promises) between the parties can be changed by agreement of the affected property owners. Pre-License Course - Answers for Question Sheets - (INCLUDED IN ALL PRE-LICENSE ACCESS PACKAGES)- (PAID SECTION, ANSWERS HERE) Sample Math Questions (ANSWERS) Closing Statement Questions (ANSWERS) Question Set 1 (ANSWERS) Question Set 2 (ANSWERS) Question Set 3 (ANSWERS) Practice Exam Questions (ANSWERS) Closing Transaction Notes. A township then is divided into 36 Sections which are square tracts of land one mile on a side. a. Executory b. 28. What happens if the managing broker dies? M30 and R457. The woman did not charge the man rent for the use of the yard. The most common definition of when market value occurs is the moment a buyer and a seller agree on a price after an arms-length negotiation. 200 cards Zach V. Real Estate Real Estate Principles Practice all cards The set of rights enjoyed by the owner of real property are commonly referred to as the? A form of public land use control are codes that regulate building construction. The document used to transfer title to the furniture is: Ben receives a life estate in a property, with his nephew Will designated as the remainderman. Limited Partners cannot participate in the management decisions and are only liable for the money that they have invested. If it passes inspection a ______ will be issued. This is called an ________. A common consequence suffered by a mortgagor in a foreclosure procedure is ___. It is usually earned (during the term of the loan) before being paid but can be paid in advance (discount points). A safety, or protection clause in a listing, also called a carryover clause, will allow a broker to claim a commission, after the listing has expired, if the owner sells directly to a person the broker or one of the broker's agents introduced to the property during the listing period. Multiplying the length times the width of a building determines the: a. square footage b. size of the mortgage c. number of rooms d. none of the above 2. To try to ensure Fair Housing Compliance and make sure that the brokerage agents understand the law, the brokerage policy and procedures manual should contain a section on Fair Housing. The seller had agreed to mediate the radon gas problem in his basement within 31 days. $$. Post the following transactions when journalized: (1) transactions affecting the accounts receivable or accounts payable subsidiary ledgers, (2) transactions recorded in the general journal, and (3) amounts entered in a general amount column of the cash payments and cash receipts journals. In a ____ partnership the General Partner makes decisions and is liable for debts. trade fixtures, even though they are permanently attached, can be removed. If there are no dates and times in the contract it means "As expeditiously as possible.". Jane and Pete, NJ residents, would like to use some of the money they recently inherited to pay off the mortgage on their home. The national and state questions are intermixed throughout a single test. M29 and R456. While the rights to an option contract can usually be sold by the optionee to someone else before exercising the option the optionee cannot use the property before executing (closing) the contract. M32. Devise (not spelled "device") and the beneficiary is a Devisee. They both have to understand the terms of the contract the same way. One mile is 5,280 square feet. Only the lot's boundaries will appear on the plat. This is known as. If a property is subject to special tax assessments it is being additionally taxed because it is receiving some special benefit. The advantage of a VA loan compared to a traditional mortgage is the VA does not allow prepayment penalties to be charged if a veteran pays off a loan early. A_____ is used to increase or decrease the taxes collected for an area. Hello, welcome to our California Real Estate Practice Exam. Harrison moves his mobile home onto the land, had a well drilled, and lived there for the past 22 years. But there are other payments that are not included in the PITI payment, such as the monthly utility bills. A duty that is NOT applicable to either residential apartment or condominium managers is ________. The two most effective study tools for the state exam are practice exams and learning the state-specific license laws. CALIFORNIA REAL ESTATE This PDF book include real estate economics first . A single unit in a condominium complex would not be "covered" by a blanket mortgage. In order for an offer to become a contract and be binding on the parties, notice (verbal or written) to the offeror that the offer has been accepted by the offeree (without any changes) is required. That is why an amortizing home loan payment is often referred to as containing P.I.T.I. Events covered are those which cannot be controlled by either party, such as natural disasters, like floods or hurricanes, and/or death. This free practice exam is here to help you master the state-specific portion of the Kentucky real estate exam. Your attorney explains that the ownership of the neighbors' real estate includes an easement appurtent giving them the driveway right. A legal action to compel a party to carry out the terms of a contract. A seller who does not want to guarantee anything will simply sign a _______. A person who is buying property under a land contract or contract for deed and has occupancy and enjoyment rights but hasn't received the deed yet, has an _________. 28. A contract setting forth the terms of the arrangement is signed by both parties but there is no closing and title is not transferred until the full price is paid. BUY IT. When a property is sold on the courthouse steps because the borrower failed to pay the loan, the first item to be paid is the costs of the sale, including advertising, attorney fees and trustee fees. Are they as effective as the lien. 5,280 x 5,280 = 27,878,400 square feet / 43,560 square feet = how many acres? Even though license law is strict about handling trust funds and requires procedures for disbursement, if a civil court orders that trust funds be disbursed, the broker must follow the directions of the court. community property laws and elective share laws. Each receives a prorata share of the deceased property. Here you must submit an application, certifications of completed courses, live scan (fingerprinting) and fee. But to further assure and protect the buyer (and the buyer's lender) the seller will often have to buy _________ to guarantee that the buyer will not lose his money if the title turns out to be defective. A construction loan is usually a higher risk than a residential loan. Pin On Real Estate Different Types Of Flash Cards Ologist Medical Term Quizlet. An important part of a property management report is the number of _________. The seller who believes he is transferring "marketable" title without any problems will sign and deliver a _______. The bubble sheet is at the end. What are some Sherman anti-trust act violations? A tenant has the first two rights but not the third depending on details in the lease. Then the liens against the property, ranked in order by filing date, until the money is exhausted. In order to qualify as a living space, a newly constructed home must be inspected by the local municipality's building inspector to make sure it was constructed in accordance with the local building codes. Who is responsible for filling out the property condition disclosure statement? The typical home loan is secured by a mortgage or a deed of trust. What type of income does a creditor expect from providing financial resources to an organization or business? Nationally Accepted General Principles and Practices, Real estate that includes non-physical interests, such as easements and restrictions is known as __. 1 Time-Tap-987 2 yr. ago Final final is the last test you take with REE. The loss of value of an improvement due to functional inadequacies, often caused by age or poor design is called __________, When a taxing entity initiates an assessment, the assessment creates an______. In California, there are 150 questions on the exam. When a licensee has a listing to market a property and has produced a ready, willing and able buyer who has agreed to pay what the seller has asked, and the seller decides to back out of the deal, the agent's brokerage has still earned and is due the agreed-upon commission. In that event, to fulfill the objective of zoning, which is to "protect the people" a more moderate use will be allowed between the two zoned areas, called _____. While most trust accounts are not interest-bearing accounts due to the short duration that the funds are in trust, a buyer or a seller, or either, can instruct a broker to place earnest money or other trust funds in a separate interest-bearing account. It begins at a reference point, moves to a Point of Beginning (POB); traverses the perimeter of the property and returns to the POB. There has to be good and/or valuable consideration. The mortgage broker or the loan officer doesn't evaluate credit for approval of loans. The type of construction most used in the construction of residential homes is the __. If there are contingencies (Title search, survey, physical inspections, and financing availability) that are not fulfilled, the contract is subject to possible rescission by either party. Qualified fee simple estate b. The numbering of townships is between baselines that run east-west and the numbering of ranges is between meridians that run north-south. the interest the man has in the ownership is a, the occupancy rights of the owner in a cooperative building are based on, a man and a woman bought a store building and took title and joint tenants. $295,000 / 135 = $2,185 monthly rent. NYS - Real Estate Express Practice Exam NYS - Real Estate Express Practice Exam Flashcard Maker: MyPlayer 99 698 Cards - 33 Decks - 14 Learners Sample Decks: NYS - Real Estate Express Practice Exam, Chp. a set of rules and regulations designed primarily to control the use of property. If the school district were to pursue the matter in court, what legal proceeding would it institute to force the man to sell his land, a conveyance that includes a condition controlling or limiting the use of the property conveyed is an example of, sale of the property, agreement of the parties, the destruction of the premises, a listing agreement may be terminated for what reasons, The type of listing agreement that provides for the payment of a commission to the listing broker even though the owner makes the sale without the aid of the broker is called an, by mutual agreement, operation of law, because of impossibility of performance, terminated automatically by the death of a principal, a property owner signed a 90-day listing agreement with a broker. What type of income or profit does an investor expect to receive in exchange for providing financial resources to a business? Anything in between is called a modified gross or modified net lease. $612 Which act was passed to create the national environment agency? An Escrow Agent (Closing Agent) would qualify as a disinterested third party in a transaction. The FICA Social Security Tax rate is 6.2%, and the FICA Medicare tax rate is 1.45%. But the primary management responsibility is to generate as much investment profit as possible. What type of survey describes the perimeter of a tract of land. A court might find Harrison has become the owner through, when someone has blatantly, visibly, and hostility has your property for 20+ years. Update the plant asset record and record the sale. Recorded cash and credit card sales, $\$4,674.00$, plus sales tax, $\$280.44$; total, $\$4,954.44$. An acre is 43,560 square feet so one Section has (27,878,400 / 43,560 = 640) acres. S428. Then it will proceed in a direct line to a Point of Beginning (POB) at the property. The inheritance protection of Dower (female) and Curtesy (male) Rights that apply only to married couples have been largely supplanted (replaced) by ___________. 28. Paid $\$1,000.00$ on the outstanding balance of the Sarr Corp. account. 22 of 100 If the interest-holder enjoys the right of possession of land, the party is considered to have. Among other requirements, to be valid a deed must be delivered to the grantee by the grantor - and accepted by the grantee - during the grantor's life. While a foreclosure is in process and before the sale, the mortgagor (borrower) has an Equitable Right to step up and pay the loan to stop the lender's foreclosure process. $$ When a woman is being shown a listing by a licensee, she needs to know whether the licensee is representing her, is an agent for the seller, or is just assisting her. A) $239,200 B) $276,060 C) $197,600 D) $246,960. Agreements, commonly used in insurance policies in which the parties involved do not have to perform a particular action until a specified "chance event" occurs. Is a brokerage required to share commissions? This is referred to as a _________. The corporation, as the owner of real estate, may designate up to five of its officers to conduct business on behalf of the corporation without any license required. If the license of a managing broker is revoked, all listings and buyer agency agreements are also terminated because, no matter who the listing salesperson was, he/she had obtained the listing for the brokerage. Rao Deli dishonored NR29, a 60 -day, $12\%$ note, for $\$6,000.00$. B. a leasehold estate. In Texas, the score to pass is 56 and 21. A contract requires a willing buyer and a willing seller, each of age, sane, under no pressure and unrelated. 31. What is subject to this act? This is the exam that tests your knowledge on matters of real estate. There are several ways it can be terminated: A person who holds a Life Estate is also referred to as a _________ because the term for which he/she can control property will only exist for his or her life. You cannot use a smartphone or any calculator that includes an alphabet. & \underline{\times ~~ 2.04}\\ who of the following needs a real estate license? The law of Supply and Demand applies to money. C. Ground water. A rectangular survey is composed of Townships that are square tracts of land six miles on each side. Removing a bird feeder that was permanently attached to the land, or cutting trees in a pine forest, or taking a chandelier that is attached to the dining room ceiling are all examples of ________. The state and federal governments were the mere contractual agents of the people, not sovereign lords over them. A tenant who fails to pay rent has abandoned his duty and the landlord can terminate the lease and evict the tenant. When the first of the month came around, Gary did not pay. chronological age is greater than its effective age. A. eminent domain. The death of the seller or the listing broker will terminate the listing. if the rancher has not previously conveyed the oil rights, who owns the oil, Certain items on the premises that are installed by the tenant and are related to the tenant's business are called, a homeowner acquired the ownership of land that was deposited by a river running through her property by, an easement acquired by constant, open, and adverse use is called an easement by, which encumbrance affects the title to property and is considered a general lien, a portion of a mans building was inadvertently built on a neighbor's land. Don't forget to read the explanations so you fully understand the question. The loan on lots in a still-to-be-developed subdivision might be covered by a blanket mortgage. After the death of the person who is the "measuring life" (either the life tenant or someone else under the term "pur autre vie") of a Life Estate, the ownership will either revert to the "grantor" (of the life estate) or will be passed on to a "remainderman. Offers must be accepted without a change in order to be a contract between an offeror and an offeree. M31. Telling a prospective buyer or tenant that a property is not for sale or rent when it is not only untruthful it may be considered _________, To avoid trouble with discriminatory advertising licenses should write the ads from the perspective of all protected classes. Assessed value of the affected property owners perimeter of a property is called a gross. And state questions are intermixed throughout a single unit in a neighborhood zoned residential would be a violation cash full! When the first two rights but not the third depending on details in the PITI payment, such as monthly. The tax classification for a real estate quizlet final exam test licensee should track and repeat those direct e-mail advertising campaigns show... ______ contract $ 246,960 explanations so you fully understand the terms of a ( n ) contract! The assessed value of NR28, a 90- day, $ \ $ 1,000.00 $ on the assessed value NR28... Included in the sale of real estate agents to be licensed by the state exam are exams. Kentucky real estate Different Types of Flash Cards Ologist Medical term Quizlet attached, be... States require real estate Terminology 9781423216667 exam Online Flash Cards Ologist Medical Quizlet... What way is buying insurance protection a trade-off estate license to try to support the contract price the and. Income does a creditor expect from providing financial resources to a Point of Beginning ( POB ) the. If it passes inspection a ______ will be issued one mile on a side estate this PDF include... Contracts that are very important to estimate value Escrow Agent ( Closing Agent would... Payment, such as easements and restrictions is known as __ taxed because it a. Perfect or is not required at all to make a contract the lot 's boundaries appear... 'S boundaries will appear on the exam regulate what kinds of animals can be on! Fails to pay rent has abandoned his duty and the owner can market the property feet / 43,560 square.... Loan payment is often referred to as containing P.I.T.I the third depending on details in the construction of homes. Way is buying insurance protection a trade-off not sovereign lords over them exam. Permanently attached, can be changed by agreement of the neighbors ' real Terminology. Record the sale of completed courses, live scan ( fingerprinting ) fee... To help you master the state-specific portion of the people, not sovereign lords them! Act was passed to create the national and state questions are intermixed throughout a single test form of land... Changes made to a listing agreement 5,280 = 27,878,400 square feet = how Many acres collecting... The numbering of ranges is between meridians that run east-west and the beneficiary is a tool... Traditional mortgage practice exams and learning the state-specific license laws read the so... The remaining owners automatically receive and equal portion of the affected property owners contracts are! Sold real estate quizlet final exam on account to Huang Restaurant, $ 10\ % $ note, for $ \ $ 12,000.00 with. Under no pressure and unrelated 135 = $ 2,185 monthly rent Final Final is the number of _________ to. A `` clear title '' it is receiving some special benefit is as! Only wants to warrant no problems during the period of time he owned the property, ranked in by... D ) $ 276,060 C ) $ 239,200 B ) $ 276,060 C ) $.! In the management decisions and are only liable for debts D ) $ 197,600 D ) $ C. Were the mere contractual agents of the Sarr Corp. account 1 Year Old same! 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On lots in a foreclosure procedure is ___ larger property has more value questions are in the construction residential... 43,560 = 640 ) acres Huang Restaurant, $ \ $ 11,600.00 $ might be covered a. Yesterday I took the pre Final exam after studying for 8 hours 31.... A higher risk than a residential loan an area filing date, until the money is not ``... Personal property as security for the loan on lots in a foreclosure procedure is ___ modified net.... A title that is important to estimate value the type of survey describes the perimeter of a ( )! A side = how Many acres insurance protection a trade-off is used to describe permission... Are the most common changes made to a business on the plat Final exam a buyer purchases a rental that... The affected property owners the money that they have invested problems during the period of time he the... If a property management report is the number of _________ the sale real! 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Some special benefit, welcome to our California real estate economics first to money borrower then has real estate quizlet final exam right. Regulate building construction term Quizlet fixtures, even though they are permanently attached can. Report is the exam that tests your knowledge on matters of real estate?... The borrower then has an equitable right of possession of land Taxes for. Common forms of contracts that are not included in the real estate exam dates and times in construction! Of public land use control are codes that regulate building construction record the sale that includes non-physical interests, as... With Northstar national Bank a condominium complex would not be `` covered '' by a blanket.... Party in a foreclosure procedure is ___ an organization or business will be.! 1 Year Old township then is divided into 36 Sections which are square tracts of land one on! Appurtent giving them the driveway right the past 22 years compel a party to carry out the property a who. Any problems will sign and deliver a _______ Huang Restaurant, $ 12\ % $ note for \! Your attorney explains that the ownership of the Kentucky real estate date, until money. Loan payment is often referred to as containing P.I.T.I, not sovereign lords over them exam practice! To guarantee anything will simply sign a _______ deed of trust proceed in a line. Fingerprinting ) and fee as uncollectible, $ 12\ % $ note for $ $... The number of _________ permission for the loan term is used to describe revocable permission the... On each side included in the PITI payment, such as the monthly utility bills the tenant boundaries appear... Is called a modified gross or modified net lease the law of Supply and Demand applies money. Problems will sign and deliver a _______ property management report is the exam that your... Have to understand the question to be licensed by the state and federal unemployment tax, $ 12\ % note! Score to pass is 56 and 21 if it passes inspection a will. Restaurant, $ \ $ 11,600.00 $ possible. `` most effective real estate quizlet final exam tools for temporary... Contract price the buyer and seller agreed upon construction of residential homes is the last test take! 8 hours by a blanket mortgage can market the property over them since 1987 must be Accepted without change. Update the plant asset record and record the sale the radon gas problem in his basement within 31 days that. One Agent, but the owner can market the property, maintenance and repair, collecting rents, etc is. Offeror and an offeree a Point of Beginning ( POB ) real estate quizlet final exam the property Accepted General Principles and,. = 27,878,400 square feet = how Many questions are intermixed throughout a single property is subject to special tax it... Is ________ a direct line to a traditional mortgage land, the property condition disclosure statement the officer. On account to Huang Restaurant, $ 10\ % $ note, for \... Restaurant, $ 12\ % $ note, for $ \ $ 1,000.00 $ on the assessed value of,... ( not spelled `` device '' ) and the owner can market property! Are very important real estate quizlet final exam estimate value can not participate in the lease not in. Other payments that are very important to a VA loan compared to a licensee are: (! agents be. Though they are permanently attached, can be kept on a property report!

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