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Exam (elaborations)

Bermuda Real Estate and Licensing Exam . Questions with correct and verified answers. GUARANTEED A+ GRADE.

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Institution Bermuda Real Estate And Licensing
Course Bermuda Real Estate and Licensing
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Bermuda Real Estate and Licensing Exam . Questions with correct and verified answers. GUARANTEED A+ GRADE. Defect/Cloud in the title - Ans Conflicting claims that prevent the absolute legal conveyance of CLEAR TITLE Period to Period is a type of leasehold that: - Ans Has no specific expiration but the length is specified (like a month to month lease) Net Lease - Ans lease in which the tenant pays some or all of the operating expenses of the property in addition to rent. Often commercial. Adverse Possession - Ans A person takes possession & use of a property belonging to another. Possession must be open, notorious, hostile & uninterrupted for a certain period of time. Estoppel - Ans Legal bar that prevents contradictions. Often a document that 'stops' prevents people from contradicting earlier agreements or statements Conformity appraisal method - Ans Orchard in the midst of a housing development Anticipation value - Ans Valued on future income. nonrecourse loan - Ans a loan that carries neither a penalty nor further obligation to repay if not paid back Government Rectangular Survey System - Ans Land (Definition) - Ans immobility, permanence, uniqueness, indestructablity Annexation - Ans term by attachment becomes real property Severance - Ans term by separating a fixture from real property becomes personal property Monument - Ans landmark natural or stake to mark a boundry Fee Simple Absolute - Ans No conditions on use or transfer alienation of title - Ans A change of ownership. May be voluntary (sold the property) or involuntary (foreclosure sale). testate - Ans having a will Intestate Succession - Ans the method used to distribute property owned by a person who dies without a valid will nuncupative will - Ans an oral will Holographic Will - Ans A will written entirely by the testator with his own hand. devise - Ans real property disposed of in a will Adverse Possession - Ans The actual, open, notorious, hostile, and continuous

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