Real Estate Salesperson License Exam Questions

The fact that an individual must go to the land describes what physical characteristics of land? - Answer- Immobility John and Mary are co-owners of a property. John has a 60% interest in the property and Mary has 40%. What type of freehold estate do they have? - Answer- Tenancy in Common A Property is surveyed to determine a legal description. The surveyor works from a point of beginning, and measures terminal points and angles. What method of land description is he using? - Answer- Metes and Bounds John leased space in a building and installed bookcases and ceiling fans in that space. His lease will end soon. What will happen to the bookcases and fan? - Answer- Because they have been installed, the bookcases and fans are fixtures and have become part of the property. He must leave them behind. What is an example of involuntary, statutory, specific lien? - Answer- Ad Valorem Tax Lien Buyer's agent has helped her buyers find a property. The sellers have installed a fountain in the courtyard and the buyers have stressed tot heir agent that they want the fountain to be included in the purchase. What should the buyers' agent do to ensure that her clients get the fountain? - Answer- The agent can include wording int he buyers' offer that indicates the fountain is included in the sale. All of the following are fixtures except?: 1. Shrubs 2. Pool 3. Tree 4. Land - Answer- Land Mary and John are married with grown children. Both are intestate. If John dies and Mary becomes the owner of the home, what type of ownership did they have? - Answer- Tenancy by the Entirety A one-half acre parcel of land in Manhattan, NY is worth considerably more than a one-half acre parcel in White Plains, NY. This is an example of: - Answer- Scarcity What is the difference between an easement and a lien? - Answer- Easement is a right in land and a lien is not