Real Estate National Exam Questions And Correct Answers, 100% Verified Solution

Real Estate National Exam Questions And Correct Answers, 100% Verified Solution How does a creditor who has obtained a judgement get satisfaction against a debtor who will not pay? Writ of Execution The economic characteristics of land are? Scarcity, location, and durability What lease would best suit couples needs who are looking for temporary housing? Month-to-Month lease The land description T3N, R4W Principal Meridian refers to what type of property description? Rectangular survey Crops that require annual planting are generally considered to be? Personal Property A distinguishing characteristic of owning property by land trust is that? The identity of the legal owner is kept confidential A lawsuit for reverse condemnation may be brought by the? Homeowner If conditions for purchase are included in a deed and these conditions are violated, what is the penalty? Return of the property to the original owner When more than one approach to value is applied to a property and different indications of value are produced, how should the final estimate of value be determined? Reconciliation A borrower has defaulted on the mortgage. The mortgage contains an acceleration clause. This permits the lender to? Demand immediate payment of the entire note Too much leverage may result in? Negative cash flow A managing broker can be held responsible for? All real estate activities of salespersons Earnest money should be deposited into a trust account when? In a timely manner Why was the Jones vs Mayer decision of 1968 important? By upholding the Civil Rights Act of 1866 A landlord may refuse to rent to a tenant who? Has ever been convicted of selling illegal drugs The buyer is assuming a mortgage presently on the property in the amount of $110,000. What is the adjustment made at the closing? Credit buyer $110,000, debit seller $110,000 In most states, foreclosed property is sold through? Public auction