Florida Real Estate Exam 2024 with 100% correct answers

Linda purchases property in Escambia County from Susan. Linda has $30,000.00 as a down payment and gets a mortgage in the amount of $150,000.00 and there is no other consideration for the transfer. How much will the doc stamp tax on the deed be? 1) $1,050.00 2) $1,260.00 3) $630.00 4) $525.00 - correct answer -$1,260.00 Tax calculation: $150,000 + $30,000 = $180,000/100 = 1800 (taxable $100 units) x $0.70 = $1260.00 tax due. Heather has been using a roadway at the back of the 22 acres Pam owns. She has been driving down the roadway almost every day without permission for over 20 years. This is called what? 1) easement appurtenant. 2) easement by prescription. 3) easement in gross. 4) easement by necessity. - correct answer -2) easement by prescription When purchasing an existing condominium, the buyer must receive which of the following? 1) Annual operating budget 2) A prospectus 3) Rules and Regulations 4) Articles of incorporation of the association - correct answer -4) Articles of incorporation of the association Todd is an 89-year-old veteran that is legally blind and partially disabled due to injuries he sustained in the military. His home has an assessed value of $150,500. How much will his taxable value be for county taxes? 1) $55,500 2) $95,000 3) $100,500 4) $110,000 - correct answer -2) $95,000