Washington Real Estate AMP National Cram Exam 5 with correct Answers

Washington Real Estate AMP National Cram Exam 5 with correct Answers The right to limited use, but not to the possession of someone else's real property is: A) a deed restriction B) an easement C) a mortgage D) a lease - Ans ️️ -B) an easement Feedback: Correct: If an outside person has an easement across the owner's property, they have limited use. They cannot possess the land and build a home. A lease allows temporary estate/possession of the leased property. Allen owned a lot with an easement across Sam's lot. Allen sold the lot to Joan, but the easement which was appurtenant to Allen's property was not recited in the deed. The easement: A) passed to Joan B) was eliminated C) does not run with the land D) reverted to Sam - Ans ️️ -A) passed to Joan Feedback: Correct: An easement that has been used by Allen is appurtenant to Allen's property. If he sells the property, the easement appurtenant will go with the property to Joan. Robert bought property with the following description: E ½ of the SW 1/4 of the NE 1/4 of section 8. How many acres would this be? A) 10 acres B) 20 acres C) 40 acres D) 160 acres - Ans ️️ -B) 20 acres Feedback: Correct: ( ½ X X ) 2 X 4 X 4 = 32; 640 acres divided by 32 = 20 acres. Life insurance company debt investments are mainly placed upon: A) farm loans B) conventional residential loans C) large commercial and apartment loans D) FHA and VA residential loans - Ans ️️ -C) large commercial and apartment loans Feedback: Correct: Life insurance companies have LARGE amounts to invest and so they do not want to get involved with loans to individuals for a residence. Warner Corp. constructed a twenty story building in 1995. In 2002 a city ordinance was passed prohibiting the construction of buildings over fifteen stories. This instance represents a: I. non-conforming use II. situation in which the building would have to be demolished A) I only B) II only C) both I and II D) neither I nor II - Ans ️️ -A) I only Feedback: Correct: A variance is when a party applies for a variance from existing zoning requirements. Conditional use is when zoning is changed and the municipality allows existing property to continue in violation of zoning ordinances. Which of the following gives the holder the right to use a specific part of another's land? A) an appurtenan