Tampa School of Realestate Question with 100 % correct answers | Verified | updated

1/4 section - 160 acres A financial institution with deposits that are insured by the federal government agency and can sell mortgages - Freddie Mac (FHLMC) A percentage of market value and the value to which the tax rate is applied regarding your property? - Assessed value A person Performing real estate activities under the judgment of order of the court, such as the trustee in a bankruptcy, is? - Not required to have a real state license A property with ownership by more than one person is also known as - Co- Ownership A section in a rectangle survey - One square mile, or 640 acres A Valid contract must have - Competent are capable parties, mutual consent, consideration, waffle object According to the PMI act of 1998 at what percentage of equity position does personal mortgage insurance automatically canceled for homeowners? - 22% acre - A measure of land equal to 43,560 square feet. Alienation of Title - Capacity of property or a property right to be sold or transferred ALTA Policy of Title Insurance - Protects real property owners and mortgage lenders against losses from defects in titlesAnd a buyers market, what causes prices to go down - Supply exceeds demand Another name for loansharking and unfair interest rates? - Usary Another term for a valuation is? - Another term for a valuation is formal appraisal Any purchase offer is bonus money required to have a binding contract? - No, the buyers consideration is the promise to buy Appointed Frak members can serve a maximum of? - Two consecutive four your terms Asbestos - A long, thin, fibrous silicate mineral with insulating properties, which can cause cancer when inhaled. Broker Joe sold owner Andrews home and is not being paid his commission. What type of lien right does Joe have for unpaid commission? - Residential brokers have no lien rights for unpaid commissions Capital gains taxes are owed when a property is sold. What percentage is used to calculate capital gains taxes when a person is in the 33% tax bracket - 15% carbon monoxide poisoning - Prevents blood is ability to transfer oxygen, symptoms are dizziness and nausea Cheating on the licensure and of course to examination is grounds for license denial or suspension? - Denial code of ethics - a formal statement of ethical principles and rules of conduct Dominant Tenement - The tract that benefits from an easement.