NYREI Exam Prep questions and answers well illustrated.

A leasehold estate that continues for a successive periods of equal length until terminated by proper notice from either party is a - ans Periodic tenancy Physical land and everything attached to it is called - ans Real Estate Equipment a tenant installs for use in his or her business is called - ans Trade fixture The illegal practice of inducing homeowners to sell their homes (Usually at a deflated price) by suggesting the ethinic or racial composition of the neighborhood Is changing, with the implication that property values will decline is called - ans Blockbusting Loans that follow the criteria set by secondary markets are called - ans Conforming loans A "Rule" that says an informed buyer will not pay more for one home than a comparable one is - ans Substitution Funds offered as an indication of good faith regarding a future performance of a purchase agreement is called - ans Earnest money Possession of property by a holdover tenant is - ans Tenancy at sufferance