CE Shop Real Estate NEWEST EXAM | COMPLETE
QUESTIONS AND CORRECT ANSWERS | GRADED A+ |
LATEST EXAM | VERIFIED ANSWERS|BRAND NEW!!
A property that is owned by a single individual
Ex. Sole owners have the freedom to do what they
Sole Ownership want with their property; however, there are some
legal exceptions, such as being prohibited from
infringing
on the rights of others, being a public nuisance, and
being required to follow zoning restrictions.
The area under the roof extension
Soffit Ex. The soffit can be the underside of any construction
element, although it is commonly used to mean the
area under the roof extension.
Aka Brownfields Law; protects future landowners of
contaminated properties from liability under certain
Small Business Liability Relief conditions
and Brownfields Ex. The Brownfields Law protects buyers, lenders, and
Revitalization Act insurers from liability from clean-up costs of
contaminated properties provided they were
unaware of the issues, performed a Phase I
environmental assessment prior to the purchase, and
met other conditions.
"A foundation that is a concrete slab, instead of a
foundation wall. Possible only on level terrains.
Slab-on-Grade Construction
Ex. With a slab-on-grade-construction, the concrete is
poured directly onto the ground, eliminating either a
crawl space or basement.
, An important structural element made of a
molded layer of plain or
reinforced concrete and used to
slab create flat surfaces in
construction, such as floors,
roofs, and ceilings
Ex. There are a few different
types of slabs used in
construction, depending on the
building and soil types.
"Allows owners to lease the rights to the air above their property
Ex. Instead of leasing, Donald Trump purchased
Sky Lease
outright the air rights above the historic Tiffany & Co.
store on Fifth Avenue in New York City so he could
build his famous Trump Tower next door.
"The location of a property
situs
Ex. Often the situs of a parcel will determine its value.
The calculation used to determine the periodic
deposit or payment required to accumulate a specific
Sinking Fund Factor amount of money; also known as the amortization of
future value
Ex. The sinking fund factor helps ensure that the
necessary funds are set aside at regular intervals to
meet the target amount by the end of the designated
period.
A depression in the ground
caused by gradual erosion or a
sinkhole
sudden cave-in
Ex. Sinkholes may be man-made
or nature-made, and can cause
damage to nearby improvements
Usually a detached residence
designed for one family
single-family home
, the bottom horizontal member of a wall or
building to which vertical
Sill Plate
members are attached Ex. Think
of the sill as the base, or support,
for the vertical members that
will be attached to it.
The exterior covering of the walls of a house that goes
over the sheathing. It may be metal, wood, vinyl, or a
Siding
combination of fieldstone, brick, or other materials.
Ex. Brick is often used in place of siding in areas where
it is more abundantly available.
A condition where people start getting headaches and
respiratory problems due to being in an environment
sick building syndrome with poor ventilation or other air quality issues
Ex. Some toxins, such as off-gassing of chemicals used
in carpeting and other manufacturing materials, can be
an issue in new construction or when remodeling. But
toxins used in household cleaners can also be
problematic.
"Gains realized from an investment held for less than
one year (taxed as ordinary income)
short-term capital gain Ex. Randy was in the 39% tax bracket. Therefore, his short-term
capital gains from
selling his investment property after only 10 months of
ownership, were taxed at this higher rate.
A lease in which the tenant is
required to pay rent plus taxes,
Triple Net Lease
insurance, and maintenance
costs
A term that, if used in advertising
a loan product, requires the
Trigger Terms
disclosure of all other terms
Term that, when used in
advertising, requires disclosure of
triggering term
other terms so as not to mislead
consumers
, Replaced the HUD-1, Good Faith
Estimate, and Truth in Lending
TRID/TILA-RESPA Integrated
Disclosures disclosures with the Loan Estimate
and Closing Disclosure
Treasury index "An index based on the yield from sales of Treasury bills and
securities.
A tax applied upon the recordation of a transfer of
transfer tax
ownership in real property; sometimes referred to as
revenue stamps or tax stamps
A piece of equipment or other item that is on or
attached to the real estate and is
Trade Fixtures
used in a trade or business
A square that is six miles by six
miles (36 square miles) and
Township
makes up the principal unit of
the
rectangular government survey system
"A single-family home attached to
another on one side; often built
townhome (townhouse) in a two-story design
Ex. Maurice loved his townhome.
He had a small back yard and,
fortunately, the neighbor who
shared one wall with him was rarely home.
Legal wrongs
torts
The physical features and contours of the land
Topography
The theory that a lender owns
the property until the
underlying loan is paid off
Title Theory Ex. Whether a state is a title
theory state or a lien theory
state (in which the lender is
considered to have a lien but
not ownership of the property
QUESTIONS AND CORRECT ANSWERS | GRADED A+ |
LATEST EXAM | VERIFIED ANSWERS|BRAND NEW!!
A property that is owned by a single individual
Ex. Sole owners have the freedom to do what they
Sole Ownership want with their property; however, there are some
legal exceptions, such as being prohibited from
infringing
on the rights of others, being a public nuisance, and
being required to follow zoning restrictions.
The area under the roof extension
Soffit Ex. The soffit can be the underside of any construction
element, although it is commonly used to mean the
area under the roof extension.
Aka Brownfields Law; protects future landowners of
contaminated properties from liability under certain
Small Business Liability Relief conditions
and Brownfields Ex. The Brownfields Law protects buyers, lenders, and
Revitalization Act insurers from liability from clean-up costs of
contaminated properties provided they were
unaware of the issues, performed a Phase I
environmental assessment prior to the purchase, and
met other conditions.
"A foundation that is a concrete slab, instead of a
foundation wall. Possible only on level terrains.
Slab-on-Grade Construction
Ex. With a slab-on-grade-construction, the concrete is
poured directly onto the ground, eliminating either a
crawl space or basement.
, An important structural element made of a
molded layer of plain or
reinforced concrete and used to
slab create flat surfaces in
construction, such as floors,
roofs, and ceilings
Ex. There are a few different
types of slabs used in
construction, depending on the
building and soil types.
"Allows owners to lease the rights to the air above their property
Ex. Instead of leasing, Donald Trump purchased
Sky Lease
outright the air rights above the historic Tiffany & Co.
store on Fifth Avenue in New York City so he could
build his famous Trump Tower next door.
"The location of a property
situs
Ex. Often the situs of a parcel will determine its value.
The calculation used to determine the periodic
deposit or payment required to accumulate a specific
Sinking Fund Factor amount of money; also known as the amortization of
future value
Ex. The sinking fund factor helps ensure that the
necessary funds are set aside at regular intervals to
meet the target amount by the end of the designated
period.
A depression in the ground
caused by gradual erosion or a
sinkhole
sudden cave-in
Ex. Sinkholes may be man-made
or nature-made, and can cause
damage to nearby improvements
Usually a detached residence
designed for one family
single-family home
, the bottom horizontal member of a wall or
building to which vertical
Sill Plate
members are attached Ex. Think
of the sill as the base, or support,
for the vertical members that
will be attached to it.
The exterior covering of the walls of a house that goes
over the sheathing. It may be metal, wood, vinyl, or a
Siding
combination of fieldstone, brick, or other materials.
Ex. Brick is often used in place of siding in areas where
it is more abundantly available.
A condition where people start getting headaches and
respiratory problems due to being in an environment
sick building syndrome with poor ventilation or other air quality issues
Ex. Some toxins, such as off-gassing of chemicals used
in carpeting and other manufacturing materials, can be
an issue in new construction or when remodeling. But
toxins used in household cleaners can also be
problematic.
"Gains realized from an investment held for less than
one year (taxed as ordinary income)
short-term capital gain Ex. Randy was in the 39% tax bracket. Therefore, his short-term
capital gains from
selling his investment property after only 10 months of
ownership, were taxed at this higher rate.
A lease in which the tenant is
required to pay rent plus taxes,
Triple Net Lease
insurance, and maintenance
costs
A term that, if used in advertising
a loan product, requires the
Trigger Terms
disclosure of all other terms
Term that, when used in
advertising, requires disclosure of
triggering term
other terms so as not to mislead
consumers
, Replaced the HUD-1, Good Faith
Estimate, and Truth in Lending
TRID/TILA-RESPA Integrated
Disclosures disclosures with the Loan Estimate
and Closing Disclosure
Treasury index "An index based on the yield from sales of Treasury bills and
securities.
A tax applied upon the recordation of a transfer of
transfer tax
ownership in real property; sometimes referred to as
revenue stamps or tax stamps
A piece of equipment or other item that is on or
attached to the real estate and is
Trade Fixtures
used in a trade or business
A square that is six miles by six
miles (36 square miles) and
Township
makes up the principal unit of
the
rectangular government survey system
"A single-family home attached to
another on one side; often built
townhome (townhouse) in a two-story design
Ex. Maurice loved his townhome.
He had a small back yard and,
fortunately, the neighbor who
shared one wall with him was rarely home.
Legal wrongs
torts
The physical features and contours of the land
Topography
The theory that a lender owns
the property until the
underlying loan is paid off
Title Theory Ex. Whether a state is a title
theory state or a lien theory
state (in which the lender is
considered to have a lien but
not ownership of the property
