Rockwell Cram Exam #3 Questions and Answers 100% Accurate

Rockwell Cram Exam #3 Questions and Answers 100% Accurate Rockwell Cram Exam #3 Questions and Answers 100% Accurate Rockwell Cram Exam #3 Questions and Answers 100% Accurate Rockwell Cram Exam #3 Questions and Answers 100% Accurate When homes in a new development are sold, a $2,000 fee is charged to the buyers. This fee covers the homeowners association dues for the first year. HOA dues for each subsequent year are $1,000. In the development's first year, ten homes are sold. Ten more are sold the second year. Assuming that the HOA's account had no disbursements or expenses (and ignoring any possible contributions from the developer), what is the balance of the account after two years? - ANSWER-$50,000 Teresa gives her little brother, Mark, a life estate pur autre vie. Which of the following is true? - ANSWER-Mark is the life tenant, but the measuring life is someone else (Our Autre Vie= "for another life" the measuring life is someone other than the life tenant. Jack receives a life estate in a property, for the life of Larry. When Larry dies, the property passes to Mary, rather than to the grantor or the grantor's heirs. This is a: - ANSWER-life estate pur autre vie, in remainder Reversion= Reverting to the grantor