Nevada National Real Estate Exam with Correct Questions & Answers

Amortized Loans - ANSWER-Constant payment including principle and interest until paid off Conventional Loan - ANSWER-No government back; private Gross Lease - ANSWER-Fixed amount- Residential rental Net Lease - ANSWER-Fixed plus maintenance; Triple Net = tax & insurance also Percentage Lease - ANSWER-Fixed + % of profits ;; mall, retail spaces Ground Lease - ANSWER-Long term land lease-- 99+ yr lead;; to build Leaseback - ANSWER-Seller leases back after closing; model homes Assign/sublease - ANSWER-Renting then leasing to someone else; air B& B Novation - ANSWER-Substitution of Lessee or contract Leasehold Estates - ANSWER-Death/sale will not terminate lease Estate for years - ANSWER-Definite termination date/no notice required Periodic estate - ANSWER-Monthly, weekly, annually, notice required for that period Nevada National Real Estate Exam with Correct Questions & Answers