Equitable lease Study guides, Revision notes & Summaries

Real Estate- Maine Learning Group Equitable Right of Redemption - correct answer The right of a defaulted borrower to redeem the property after foreclosure proceedings have begun & before the foreclosure sale by paying off the loan balance, plus interest until the day of payoff & costs. Written Policy Manual - correct answer Identifies & describes the types of real estate brokerage relationships in which the broker & affiliated licenses may engage. (Maine requirement) National Association...

If a commission amount or percentage is NOT stated in the listing agreement: - The broker would not be entitled to a commission Most homes in AZ are cold with legal descriptions that state: - Lot and block In which of the following appraisal methods DOES an appraiser need to determine a dollar amount for depreciation? - Cost Approach Rights of occupancy of an owner in a cooperative are based on: - A proprietary lease If an apartment building's zoning classification changes from multi fami...

Colorado Law And Practice Exam Questions And Answers The term "effective age" when applied to an industrial building means The observed age of the property in relation to its actual age An employed broker who both lists and sells has earned: The agreed upon split from the employing broker for each side of the transaction If a borrower must pay one discount point on a 250,000 loan, the charge will be: 2,500 Federal Fair Housing law provides that possible discrimination exists...

When a land contract is entered into; correct answersThe buyer acquires equitable title Angela operated her own brokerage firm until she unexpectedly passed away. The Board appoints her son, Adam, to operate the business for 180 days. During this period, Adam: correct answersCan only conclude the transactions in the process to facilitate the termination of the business Which person would NOT need a real estate license? correct answersAn owner who sells no more than three of her own houses ...

Colorado Real Estate Exam Prep (2023/2024) (Certified Solutions) Title Theory lender owns, borrower has equitable title Hypothecation pledging property as collateral for a loan without giving up possession Mortgagee Lender Mortgagor borrower Non Judicial foreclosure *CO: Public trustee has power to foreclose 1.Lender complains 2. Notice given 3. trustee sells after 125 days Strict foreclosure No sale. Full legal title given to lender, loss of equity for borrower Judicial foreclosure done t...

Real Estate Exam Questions with Verified Solutions Corn stored in a grain bin is considered real property. False Kitchen cabinets, a furnace, or bathroom appliances are considered real property after they have been installed as improvements to the home, even though at one time they were personal property. True A dishwasher installed in the cabinets does not need to be excluded from the listing if the owner is planning on taking the washer with them. It can be excluded on the sales agreement. F...

WASHINGTON STATE MANAGING BROKER EXAM QUESTIONS AND ANSWERS, GRADED A+/ VERIFIED. At what point has listing agent earned a commission? - -When a ready, willing, and able buyer is found. If the seller backs out after accepting the offer, even if the buyer agrees to a rescission, the commission is still due. At closing, a sale doesn't go through because the seller's anticipated transfer to another city gets suddenly postponed, and the seller no longer wants to sell. Does the seller owe...

Texas Real Estate Exam (National) Already Graded A real property the tangible real estate and intangible rights associated with the ownership of real estate -transfers by deed or will personal property a right or interest in things of a temporary or movable nature; anything not classed as real property (chattel, personalty) -transfers by a bill of state fixture personal property that has been attached in such a way as to make it real property -"installed" often indicates permanent attachment...

New Mexico Real Estate Law Exam Questions and Answers A broker is performing as a property manager and deposits rent into her operating account. This is an example of which of the following? - Correct Answer ️️ -The answer is COMMINGLING. Mixing a broker's money with a client's money is commingling (and illegal). A lessee has the greatest protection with a(n) - Correct Answer ️️ -The answer is ESTATE FOR YEARS. An estate for years locks the holder into the lease for a specific ...

Article 12-A of the NYS Real Property Law - The section of the New York Real Property Law pertaining to real estate salespersons and brokers. - Primary purpose is to "Protect the Public" - Requires a salesperson to be at least 18 years of age - Requires a broker to be at least 20 years of age Sponsor broker - A licensed real estate broker that holds the license of a salesperson "Summary of Your Submission" - Obtained after your register for the New York State Salesperson exam usin...