***INSTANT DOWNLOAD***Law Of Contracts Champion Real Estate Exam Questions With All Answers

Law Of Contracts:Champion Real Estate Exam n n n n n n n




Questions With All Answers n n n n




1. What vtypically vhappens vwith vNotices?: Many vagents vfail vor vrefuse vto vfill vin
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vthe vcontact vinformation vfor vtheir vclient vwhen vit vis vcalled vfor vin vparagraph v21 vOR
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vthey vput vtheir vown vcontact vinformation vin vthat vprovision vso vthey vcan vstay vin
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vcontrol vof vthe
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information vthat vis vgoing vto vtheir vclients. vAgents vmake vthemselves vand vtheir
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vbrokers vlegally vresponsible vfor vthe vreceipt vof vnotices vwhen vthey vuse vtheir vaddress
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vand vemail vVS vthat vof vtheir vclient
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2. What vdoes va vSubrogation vClause vdo?: vEnables vthe vtitle vcompany vto
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vassume vthe vrights vof va vbuyer vwith vrespect vto vany vclaim vagainst va vseller vif vthe
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vtitle vcompany vhas vmade vpayments vto vthat vbuyer vto vsatisfy vthat vclaim.vIn vthis
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vmanner, vthe vproperty vowner vcannot vcollect vfrom vboth vthe vtitle vcompany vor vthe
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vseller
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3. What vis vlandlocked vproperty?:vThe vcourts vmay vaward vand veasement vto
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va vproperty vowner vwho vhas vno vlegal vaccess vto vhis vor vher vland
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4. What vis vEnvironmental vSite vAssessment vused vfor?: vIf va vbuyer vhas
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vconcerns vaboutvthevpossiblevcontaminationvofvavpotentialvproperty,vhevorvshevorvthe
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vlendervmay vcall vthe venvironmental vsite vassessment vto vbe vpreformed von vthe vproperty
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vto vdetermine vif vit vis venvironmentally vchallenged
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5. Can van voral vlease vbe vvalid?:vIf vthe vlease vhas vbeen vopen vfor vone vyear vor vless
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vis vvalid vand venforceable
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6. WhatvisvavQuitclaimvDeed?:vItvisvonevwithvnovguarantees,vwarrantiesvorvcovenants
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7. What vis vblanket vmortgage?: vCan vcover vmore vthan vone vpiece vof vproperty
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8. What vis va vDevise?:vIf vreal vproperty vis vconveyed vby vwill
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9. What vis vthe vmost vcommon vtype vof vfinancing?: vIs vobtained vfrom va vthird
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, nparty, vsuch vas vmortgage vcompany vor vbank
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10. Owners vwithin va vcooperative-: vdo vnot vactually vown va vspecific vunit
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11. In vthe vretail venvironment-:va vpercentage vlease vobligates vthe vsenate vto vpay
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va vbase vrent vand va vpercentage vof vthe vgross vsales
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12. What vis vSale vof vother vProperty vContingency?: vThe vseller vand vbuyer
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vagree vthat vthe vpurchase vof vthe vproperty vis vcontingent von vthe vsale vand vclosing vof vthe
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vbuyers vexisting vproperty
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13. Estatevinvseveralty?:vIfvonlyvONEvsignaturevisvrequiredvonvavdeedvconvertingvfull
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vownership vof vthe vproperty vto vanother, vthe vseller vowns va v-
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14. Encumbrance?: vA vclaim, vlien, vcharge vor vliability vattached vto vand vbinding n n n n n n n n n n




vreal vproperty
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15. What vis va vpromissory vnote?: valso vknown vas va vreal vestate vlien vnote, vis vthe
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vborrows vunconditional vpromise vto vrepay vand vincludes vamount vborrowed,
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vpayment vamount, vdue vdate vand vrate vof vinterest, vwhich vthe vnot vis vnot vgenerally
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vrecorded
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16. When vis va vcontract vexecuted?:vWhen vthe vsale vis vclosed vthe vcontract vwill
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vbe vfully vexecuted
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