Real Estate CT: Specific Principles and Practices Latest Update 100% Pass

Real Estate CT: Specific Principles and Practices Latest Update 100% Pass when does a joint tenant become a tenant in common During divorce what is different in CT in regard to joint tenants they can have an unequal interest how long is adverse possession / prescriptive easement in CT 15 years If there is a transaction without a lawyer, what happens to the deed and where does it go record it with the town if you change your name, how long do you have to update the town files 60 days what is a mass appraisal? an assessment of every property within a municipality's borders, happens every 5 years starting on October 1st where is the mass appraisal recorded the Grand List what conditions happen when there is an annual adjustment 1. must continue with annual adjustments for that 5 year cycle 2. annual adjustment capped at 5 percent 3. can be made to specific geographic areas 4. no mailing of a written notice of assessment increase conveyance tax tax imposed for the transfer of real property on seller conveyance tax rate (residential) .75% goes to state .25% goes to municipality conveyance tax rate (commercial) 1.25% goes to state .25% goes to municipality exception to conveyance tax property is worth less than $2000 conveyance tax rate for properties worth over $800,000 1.25% for the portion over $800,000 .75% for the rest The Uniform Property Condition Disclosure Act requires the seller to provide the buyer with... Residential Property Condition Disclosure Report prior to any execution of sale and it must be signed by both parties If the Residential Property Condition Disclosure Report is not given, what is the fine? $500 What is described in the Residential Property Condition Disclosure Report basic system like heat and water who fills out the Residential Property Condition Disclosure Report the seller. NOT the seller's agent what are the exceptions to giving out the Residential Property Condition Disclosure Report 1. Divorce 2. Foreclosure 3. co-owner to co-owner 4. newly constructed residential property property acquired by judgment What does the CT Landlord and Tenant Act cover everything but commercial, medical, educational, fraternal, hotels, motels. what is the exception to hotels and motels for the CT Landlord and Tenant Act its the main home of the occupant or occupancy has been more that 30 days Can you evict someone without court order NO