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MN Real Estate State Test Practice | 180 Questions with 100% Correct Answers | Updated & Verified

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2022/2023 Written for academic year
Institution MN Real Estate State
Course MN Real Estate State
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Carmen was hired by the Navarreses to build a walk-in closet. She included a lien notice in the original contract. The Navarreses have provided final payment. What does Carmen need to do to remove the lien associated with this contract? - ANS - Deliver a lien wavier to the Navarreses. Which of the following might qualify for reimbursement from the Minnesota Petroleum Tank Release Cleanup Fund (Petrofund)? - ANS - Six years ago, Miles took corrective action to remove and clean up a leaking tank on his property, taking out a loan to cover some costs. Marin was the victim of a Minnesota real estate licensee's dishonest practices. She received a final judgment in court but hasn't been paid, despite going through all legal proceedings, reviews, and appeals. She's seeking recovery from the Real Estate Education, Research, and Recovery Fund. What's the maximum she'd be paid? - ANS - $150,000 Once the disclosure form is received, how many days does a Minnesota buyer have to review and sign, or cancel the contract for deed agreement? - ANS - Five

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