PSI Real Estate State Exam (NJ) Updated Accurate 100%
. an involuntary lien - ANSWER When a land owner uses his land as security for a loan, the encumbrance created is called. C. Question the seller to any known defects - ANSWER If an owner wants to list a property for sale "as is," the listing agent should A. licensee must hold a timeshare license - ANSWER According to the New Jersey Real Estate Time Share Act, if a licensee is selling a timeshare located within the state of New Jersey, all of the following are true EXCEPT that the C. Yes, if the broker directs the salesperson not to cooperate - ANSWER May a New Jersey real estate licensee decline to cooperate with other New Jersey licensees A. Economic obsolesce - ANSWER A motel is the subject of an appraisal and it is determined that rerouting of a county highway has limited customer access to to the motel. This is an example of
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