Washington State Real Estate Exam Correct Questions &Answers| Verified 100%
Abandonment - ANSWERSThe voluntary and permanent cessation of use or enjoyment with no intention to resume or reclaim one's possession or interest. May pertain to an easement or a property. Abrogation - ANSWERSTenants cannot sign away their rights in advance of signing the lease. Abstract of Title - ANSWERSA condensed version of the history of title to a particular parcel of real estate as recorded in the county clerk's records; consists of a summary of the original grant and all subsequent conveyances and encumbrances affecting the property. Abutting - ANSWERSThe joining, reaching, or touching of adjoining land. Abutting parcels of land have a common boundary. Accelerated Depreciation - ANSWERSA method of calculating for tax purposes the depreciation of income property at a faster rat than would be achieved using the straight-line method. Note** any depreciation taken in excess of that which would be claimed using the straight-line rate is subject to recapture as ordinary income to the extent of gain resulting from the sale. Acceleration Clause - ANSWERSA provision in a written mortgage, note, bond, or conditional sales contract that, in the event of a default, the whole amount of principal and interest may be declared to be due Washington State Real Estate Exam Correct Questions &Answers| Verified 100%
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