ASREB Exam prep 2023/2024 with 100% correct answers

The sale of personal property would include: - correct answer Bill of sale What governmental right requires compensation to private property owners? - correct answer Eminent domain If property is obtained by the state after a person dies, this is called: - correct answer Escheat Transfer of real property requires a: - correct answer Deed This is an economic characteristic of real property: - correct answer Frozen asset A promissory note is considered: - correct answer Personal property These are included in the bundle of rights ownership: - correct answer 1. Usage 2. Possession 3. Sell property at any time Discount points: - correct answer 1. INCREASE the lenders yield 2. Usually 1 % of loan amount 3. Decrease the loan term A storage shed attached to a slab would be considered a: - correct answer Fixture If an HOA had additional expenses how would they be handled? - correct answer Each property owner would pay a p