Principles of Real Estate Exam With 100% Correct Answers 2024

Principles of Real Estate Exam With 100% Correct Answers 2024 If a person dies without a will, the procedure for transferring the deceased's property to his or her heirs is called: - answerintestate succession An oath or affirmation made before a notary public that the content of an instrument is true is called a(n): - answerverification. Grantor A conveys a parcel of land to grantee B on the condition that a park be built within 5 years. At the end of the period, B fails to meet the terms of the conveyance and A terminates the estate that had been granted. This is an example of: - answerboth a and b. Under intestate succession, with a surviving wife and two minor children, how much of the estate would go to the wife? - answerone-third If a property is to be returned to the grantor after a life estate is terminated, it is referred to as a(n): - answerestate in reversion What is the term used when a person leasing a property remains after the expiration of the stated term? - answerEstate at sufferance An estate for years is an example of a: - answerIess-than-freehold estate CC&Rs refer to: - answercovenants, conditions, and restrictions When someone is performing unauthorized work on your property, you should file a(n): - answernotice of nonresponsibility A mechanic's lien can be filed against a property by someone who has furnished which of the following services? - answerAll of the above Real property subject to a lien is referred to as: - answerencumbered An agent who is only authorized to perform specific acts is known as a(n): - answerspecial attorney in fact In real estate, the person who acts for and with the authority of another is called a(n): - answeragent Which of the following is NOT a duty of the broker/agent towards his or her principal? - answerAvailability If the "exact" terms of the listing agreement are met, the listing broker is entitled to a commission, even if the: - answerowner refuses to sell to the buyer Which kind of listing is preferred by most brokers? - answerExclusive right to sell The broker must place a buyer's money deposit in a trust account or escrow: - answerwithin three business days An agency is terminat