Four unities Study guides, Revision notes & Summaries

2. Which of the following is necessarily true of tenants in common? - Each tenant has an undivided interest in the land. 3. Personal property includes all of the following EXCEPT - fixtures 4. The maximum degree of ownership allowed by law is - fee simple absolute 5. Ownership in severalty refers to - ownership by one person. 6. Joint tenancy generally includes the four unities of - possession, interest, title and time. 7. To create a contract, the offeree (one receiving the offer) must ac...

Real Estate – Acronyms Study Guide 2024.DEEP + C - ANSWER Bundle of Legal Rights - Disposition, Enjoyment, Exclusion, Possession, Controls COLD + AC - ANSWER Six Common-law fudiciary duties - Care, Obedience, Loyalty, Disclosure, Accounting, Confidentiality PETE - ANSWER Four government powers - Police power, Eminent Domain, Taxation, Escheat PITT - ANSWER Four unities necessary to create joint tenancy - Possession, Interest, Time, Title

Severalty - Answer The property has only one owner, whether that is a person, corporation, or other legal entity. ("Severed" from all other owners) Undivided interest - Answer A type of interest that gives each co-owner the right of possession of the whole property, not simply a portion of it Right of Survivorship - Answer The statutory principle of survivorship tenancy, which means that when one co-owner dies, their ownership interest reverts to the surviving co-owner(s) Without ...

Barney Fletcher Test Review 2024 1. Open Listing (Non-Exclusive) - Ans ️️ May be given to many brokers. Only the broker who is the "procuring cause" gets paid. 2. Truth in Lending Act (Regulation Z) - Ans ️️ Requires meaningful disclosure of cost of credit including APR (Annual Percentage Rate). 3. Trust Accounts - Ans ️️ Holding valuables for others; Commingling-illegal mixing trust funds and own private funds; Can't be used for broker purposes; Can't be seized to use for...

MIE 305 Final Exam Questions And Answers 100% Verified What are the "bundle of rights" associated with property ownership? - answer1) Control; 2) Possession; 3) Enjoyment; 4) Exclusion; 5) Disposition Possession - answerThe property is legally owned by whoever owns the title. Control - answerThe titled owner (freeholder) controls the use of the property. Enjoyment - answerRights-holder can enjoy the property in any legal or contractually agreed manner. Exclusion - answerOwner can ex...

Colibri Real Estate Law Complete Solutions The discovery step of civil cases is where the parties use a mediator. the complaint is filed. each party presents their case. each party gathers information from each other and third parties. each party gathers information from each other and third parties. What phrase could a licensee use in advertising that would not discriminate on the basis of familial status? Couples only Empty nesters No bicycles allowed Senior discount Se...

Superior School of Real Estate Exam Problem Areas Questions and Answers tenements -Answer-all of the rights and interests that go with the land hereditaments -Answer-land and all of the tenements that can be inherited appurtenance -Answer-a right interest of privilege that goes with the land (item in the bundle) accretion -Answer-a gradual process in which the boundary of riparian land is extended by natural forces reliction -Answer-the permanent receding of the water which leaves the gro...

Leasehold Estate- Estate for Years A lease for a specific perios of time, with no renewal option. No notice required. Death will not terminate. Leasehold Estate- Periodic Tenancy (Estate from year to year) Month to Month, usually one rental period notice. Proper notice is 60 days from landlord to tenant, and 30 days from tenant to landlord. Automatically renews, if no notice. Leasehold Estate- Estate at will Lawful possesion. No time period specified. Death will terminate. ...

California Real Estate Exam Questions With 100% Verified Answers Latest Updated 2023/2024. Jones vs. Mayer Supreme Court Decision (1968) (Ans- Racial discrimination not allowed (whether selling or buying) in all PRIVATE property transactions (based on Civil Rights Act of 1968) Easton vs Strassburgar (Ans- Seller disclosures to third parties AND agent visual inspection of all accessible for 1-4 single family homes If license applicant is delinquent on child support, what type of license wil...

Michigan Real Estate Exam 2023-2024 Questions and Answers (Graded A)Michigan Real Estate Exam 2023-2024 Questions and Answers (Graded A)Michigan Real Estate Exam 2023-2024 Questions and Answers (Graded A)Ownership in Severalty - ANSWER-Undivided ownership of an estate. Right to quiet enjoyment - ANSWER-A lessee's right to possess a property without interference from lessor, previous owner, or anyone else about the claim to the title. Joint tenancy - ANSWER-Requires all four unities: time,...