Study guides, Class notes & Summaries

In-depth notes for the Real Estate Principles course (excluding ch 1-3). Will help you prepare for the RE Principles final exam and for the Real Estate Licensing Exam (CA).

Included among legal requirements of taking title to real property as tenants in common is that? - ANSWER Each co-owner's interest may be conveyed separately. A homeowner employed a contractor to build a swimming pool. The owner did not pay, what time of lien is NOT represented by this lien? - ANSWER General Lien Legal seizure of property to be held for payment of money pending the outcome of a suit to enforce collections is? - ANSWER Attachment A woman build a fence that intended beyo...

A real estate licensee has a buyer agency agreement. What is the seller in this situation? A customer. A real estate licensee has a buyer agency agreement. What is the seller in this situation? A customer. An optionor and an optionee make a contract for an option on a commercial piece of property. If the optionee decides to exercise his option, when must he perform? He must exercise his option under the terms of the option contract. An optionor and an optionee make a contract for an optio...

Real Estate Final Exam Practice Questions with Correct Answers Graded A+ When a form of real estate sales contract has been agreed to and signed by the purchasers and given to the seller's broker with an earnest money check __________. this transaction is considered an offer. If a seller makes any changes in an offer from a buyer prior to acceptance, the buyer, _____ is relieved of the original offer Who are the parties to a Listing Agreement? Seller and Listing Agent The Buyer sig...

Real Estate Exam AZ Question and Answer 100% Correct Recission - Legal remedy of canceling, terminating or annulling a contract and restoring the parties to their original positions. Encumbrance - A claim against title or a limitation on use. Puffing - Exaggerated statement or opinion by the broker. ADWR - Arizona Department of Water Resources. Agency that oversees Active Management Areas and issues the Certificated of Assured Water Supply. Capitalization - Appraisal method of income pr...

Real Estate Exam: Law of Agency Question and Answer 100% Correct This person hires an agent - The Principal The agent works on behalf of this person - the client (principal) This type of agency allows for the greatest range of authority - Universal This is provided to the agent when there is written documentation that the agency relationship exists. - Express authority This is the most limited of all the agency relationships - Special agency This type of agency is created when a 3rd par...

Bermuda Real Estate Summary paper. Questions and Answers for current student Defect/Cloud in the title - ***Conflicting claims that prevent the absolute legal conveyance of CLEAR TITLE Period to Period is a type of leasehold that: - ***Has no specific expiration but the length is specified (like a month-to-month lease) Net Lease - ***lease in which the tenant pays some or all of the operating expenses of the property in addition to rent. Often commercial. Adverse Possession - ***A pe...

Real Estate Practice Exam Questions 2024 1. Brokerage definition... the business practice of bringing together the parties in a practice. 2. What are two examples of special use property? schools and cemetary 3. What is an example of functional obsolescence? bathroom 4. Principal definition... a consumer of real estate services who has entered into an agency relationship with a broker or another licensee employed by a broker. 5. Capitalization definition... the process of determining...

Real Estate Exam Prep (Champions; Texas) Questions with correct Answers 100% Verified appurtenance - answerterm used to describe rights, privileges or improvements that belong to and pass with the land improvements - answerman's additions to the land such as building and landscaping personal property - answeralso called chattel or personalty; a right or interest in smiting of a temporary or movable nature and includes anything not classed as real property. Real property becomes personal...

REAL ESTATE (AZ SPECIFIC ), Exam Questions and answers/ Arizona property taxes are based on: - -Assessed value The tax rate applied to owner occupied residential property is: - -10 % What lien has priority first: - -Property taxes Property taxes become a lien the first day of: - -January If a property is not bid at a tax foreclosure sale: - -Anyone can later buy the tax lien from the Treasurer Rank the following in order: IRS lien, Property Taxes, Special Assessments - -Property Taxes...