Real Estate CT: specific principles and
practices Test Questions All Solved
Correct.
when does a joint tenant become a tenant in common - Answer During divorce
what is different in CT in regard to joint tenants - Answer they can have an unequal interest
how long is adverse possession / prescriptive easement in CT - Answer 15 years
If there is a transaction without a lawyer, what happens to the deed and where does it go -
Answer record it with the town
if you change your name, how long do you have to update the town files - Answer 60 days
what is a mass appraisal? - Answer an assessment of every property within a municipality's
borders, happens every 5 years starting on October 1st
where is the mass appraisal recorded - Answer the Grand List
what conditions happen when there is an annual adjustment - Answer 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 - Answer tax imposed for the transfer of real property on seller
conveyance tax rate (residential) - Answer .75% goes to state
.25% goes to municipality
conveyance tax rate (commercial) - Answer 1.25% goes to state
practices Test Questions All Solved
Correct.
when does a joint tenant become a tenant in common - Answer During divorce
what is different in CT in regard to joint tenants - Answer they can have an unequal interest
how long is adverse possession / prescriptive easement in CT - Answer 15 years
If there is a transaction without a lawyer, what happens to the deed and where does it go -
Answer record it with the town
if you change your name, how long do you have to update the town files - Answer 60 days
what is a mass appraisal? - Answer an assessment of every property within a municipality's
borders, happens every 5 years starting on October 1st
where is the mass appraisal recorded - Answer the Grand List
what conditions happen when there is an annual adjustment - Answer 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 - Answer tax imposed for the transfer of real property on seller
conveyance tax rate (residential) - Answer .75% goes to state
.25% goes to municipality
conveyance tax rate (commercial) - Answer 1.25% goes to state
