Drafting leases Study guides, Revision notes & Summaries

QUESTION 1. What does the term “professionalism” mean in respect of drafting a document? QUESTION 2 [18] Jack (the owner of the intended dominant tenement) and Gerald (the owner of the intended servient tenement) enter into a servitude agreement but fail to register it. Later on, Gerald sells his property to Jack, who in turn sells it to Sue. What are the legal implications of the unregistered servitudes for the respective parties? [10] QUESTION 3 May, the holder of a usufruct over ...

The foundation upon which real estate brokerage is practiced - ANSWER-Agency A legal and ethical relationship created between a real estate firm and a party to a transaction; the party may be a buyer, seller, landlord, or tenant - ANSWER-Agency Relationship A written agreement between a firm and a client; the client authorizes the firm to provide brokerage services to the client - ANSWER-Agency Agreement What are two agency agreements? - ANSWER-Listing Agreement Buyers Agency Agreemen...

AYPO - Oregon Real Estate Broker License Education Review Questions And Answers What is a tax allocation district? - ANS A district where property is charged a higher property tax in order to build infrastructure for that area Which of the following is a factor that affects accessibility? a. Continuity Incorrect b. Mobility substitutes c. Air superiority d. Matriculation - ANS Mobility substitutes Predatory loans often have fees that cost more than... - ANS 5% of the total...

Binding agreement - ANSWER-When an offer doesn't contain any conditions, it's a _________ _________ once accepted by all parties. - Condition precedent - Condition subsequent - ANSWER-What methods can be used to draft conditions? A true condition precedent. - ANSWER-If a party is not permitted to waive a condition and is required to fulfill the condition, what is this called? A condition in an agreement calling for an event to happen, or an act to be performed, before the agreement b...

What is a tax allocation district? - ANSWER-A district where property is charged a higher property tax in order to build infrastructure for that area Which of the following is a factor that affects accessibility? a. Continuity Incorrect b. Mobility substitutes c. Air superiority d. Matriculation - ANSWER-Mobility substitutes Predatory loans often have fees that cost more than... - ANSWER-5% of the total amount of a loan. Under the veteran loan program, a veteran that purchases a pro...

Cemetery Broker - A person who, other than in reference to an occasional sale, sells, or offers for sale, buys or offers to buy, lists, leases or offers to lease, or solicits, or negotiates the purchase or sale, lease or exchange of cemetery property or interment services, or interest therein, for his or her own account or for another Cemetery Salesperson - Natural person who, other than in reference to an occasional sale, is employed by a cemetery broker to sell, or offer for sale, list or...

LPC Property fully solved 2023 Co-Ownership - Reg and Unregistered Land Reg land: restriction on charges register indicates TiC. Need to ensure both sign + execute contract. If dead, ensure Death Certificate + appointment of new trustee + Grant of Representation. Unregistered land: Death Certificate and can assume JT if LP(JT)A 1964 factors: - Seller states in conveyance he is solely entitled; - No memo of severance - No notice of bankruptcy --> carry out K16 search. Always searc...

Humber Real Estate - Course 2, Module 17, Writing Conditions to be Included in an Agreement of Purchase Sale Binding agreement - When an offer doesn't contain any conditions, it's a _________ _________ once accepted by all parties. - Condition precedent - Condition subsequent - What methods can be used to draft conditions? A true condition precedent. - If a party is not permitted to waive a condition and is required to fulfill the condition, what is this called? A condition in an agr...

Binding agreement - Answer When an offer doesn't contain any conditions, it's a _________ _________ once accepted by all parties. - Condition precedent - Condition subsequent - Answer What methods can be used to draft conditions? A true condition precedent. - Answer If a party is not permitted to waive a condition and is required to fulfill the condition, what is this called? A condition in an agreement calling for an event to happen, or an act to be performed, before the agreement b...

Real Estate Tennessee State Exam Questions and Answers 100% Pass When an earnest money check is deposited, what information does Tennessee require be recorded and maintained? Who provided the funds (the depositor) A principal broker in Tennessee is required ______ for all transactions in which affiliated licensees participate. Review and approve transactional documents and agreements What must licensees do to maintain their licenses? Complete continuing education requirements and pay the rene...