Massachusetts Real Estate Exam Questions and Answers 100% Correct

Massachusetts Real Estate Exam Questions and Answers 100% CorrectMassachusetts Real Estate Exam Questions and Answers 100% CorrectMassachusetts Real Estate Exam Questions and Answers 100% CorrectMassachusetts Real Estate Exam Questions and Answers 100% Correct Estoppel - ANSWER-one promises to do something and another relies on that promise and is harmed by them not following through Encroachment - ANSWER-illegal intrusion or trespass into or over the property of another. such as a wall or fence Nuisance - ANSWER-Interferes with quiet enjoyment and is an encroachment. Private nuisance= small area and can take court action Public Nuisance = large area and takes city action Rectangular Survey System - ANSWER-system of rectangles to locate and specify the boundaries for land parcels. Baselines run EAST and WEST. Meridians run NORTH and SOUTH. this unit of land approx 24mi sq. is divided into areas 6 miles sq. called townships. Townships are divided into 36 sections. Primary Mortgage - ANSWER-lenders who originate funds to borrowers. the lenders retain mortgage investments for themselves or sell them to investors Secondary Mortgage - ANSWER-firms/agencies who buy mortgages from those lenders who originate them (FNMA-Fannie Mae).