Four unities Study guides, Revision notes & Summaries

California Real Estate Exam: Questions & Answers Latest Update 2023/2024 100% Verified. Reed vs. King Case (Ans- Must disclose death (and manner of death) on a property if occurs within 3 years, except AIDS 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...

What are the two types of freehold estates? - ANSWER-1) an estate in fee (simple absolute) 2) a life estate. What is the most complete, largest type of estate that includes all rights associated with the estate? - ANSWER-An estate in fee simple absolute What type of estate do you own if someone grants you real property for you to own only during your lifetime? When you die, the property reverts back to original estate owner. - ANSWER-a life estate The rights of tenants who rent or lea...

1. which of the following ways of specialization is common in the real estate brokerage business A) by background of client B) by type of property C) by years of experience in the business D) by type of mortgage financing required - correct answer -b 2. which of the following is included in the legal concept of land A) A corn crop B) a lake C) a felled tree D) an abandoned vehicle - correct answer -b 3. a property abuts a non navigable stream. What does the owner own A) land to th...

What are the "bundle of rights" associated with property ownership? - 1) Control; 2) Possession; 3) Enjoyment; 4) Exclusion; 5) Disposition Possession - The property is legally owned by whoever owns the title. Control - The titled owner (freeholder) controls the use of the property. Enjoyment - Rights-holder can enjoy the property in any legal or contractually agreed manner. Exclusion - Owner can exclude others from entering. Disposition - The titled owner can sell, rent, or...

National Exam - Practice of Real Estate Questions and Answers Graded A+ Practice of Real Estate Civil Rights act of 1866 prohibit racial discrimination in all conveying of real and personal property Practice of Real Estate in regards to convicted drug dealers... they are NOT covered under any condition under the federal fair housing act of 1968 and the amendment in 1988, authorized administrative law judges may now... admin law judges within HUD may now hold contested case hear...

Aceable Agent Level 2 Question and answer 2023 verifiedSeveralty - correct answer The property has only one owner, whether that is a person, corporation, or other legal entity. ("Severed" from all other owners) Undivided interest - correct 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 - correct answer The statutory principle of survivorship tenancy, which means that when one co-o...

Barney Fletcher Test Review 1. Open Listing (Non-Exclusive) - Answer-May be given to many brokers. Only the broker who is the "procuring cause" gets paid. 2. Truth in Lending Act (Regulation Z) - Answer-Requires meaningful disclosure of cost of credit including APR (Annual Percentage Rate). 3. Trust Accounts - Answer-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 Firm needs; B...

Alabama Real Estate Final Exam Study Guide - 60 Hour Course with Complete SolutionsAlabama Real Estate Final Exam Study Guide - 60 Hour Course with Complete SolutionsAlabama Real Estate Final Exam Study Guide - 60 Hour Course with Complete SolutionsAlabama Real Estate Final Exam Study Guide - 60 Hour Course with Complete SolutionsWhich of the following ways of specializing is common in the real estate brokerage business? A. By type of mortgage financing required B. By years of experience in th...

Blockbusting causes: A Trust busting B Panic peddling C Blind advertising D Redlining - ANSWER-B. Panic Peddling Blockbusting causes panic peddling (also known as panic selling), where homeowners quickly sell their homes for fear of a drop in home values due to the entry of a protected class into their neighborhood. Which of the following advertisements would violate fair housing law? A Private outdoor space B No elevator access C Walk-in closet D Easy access to the highway - AN...

CHAPTER 10 Bundle of Rights sticks metaphor owner = entire bundle of sticks renter = only a few sticks possession, use, control, exclusion, transfer Brainpower Read More Property Rights the legal rights that a person has over a piece of real property Real Property The legal interests in land and things attached to or growing on land ex: part of the earth’s surface, buildings, fences, and trees used to describe the legal rights that a person can have in real...