Co-ownership of land Study guides, Class notes & Summaries

NYREI School Exam Questions and Answers Latest Version Graded A+ What is the minimum licensing requirement to sell commercial real estate in New York? a real estate salesperson's license What is the preferred method of creating an agency relationship? expressed agency An amenity purchaser occupies or uses the purchased property Condominium units are considered _____ property and are conveyed by _____. real / deed A salesperson who is an independent contractor is not subject to withholding r...

TESTBANK FOR Corporate Finance, 3rd Edition by Jonathan Berk and Peter DeMarzo Corporate Finance, 3e (Berk/DeMarzo) Chapter 1 The Corporation 1.1 The Four Types of Firms 1) A sole proprietorship is owned by: A) one person. B) two of more persons. C) shareholders. D) bankers. Answer: A Diff: 1 Section: 1.1 The Four Types of Firms Skill: Definition 2) Which of the following organization forms for a business does NOT avoid double taxation? A) Limited partnership B) "C" corpora...

Test Bank For Advanced Accounting 3rd Edition, Jeter & Chaney YOU CAN FIND MORE QUESTIONS AND ANSWERS, just go HERE Chapter 1: Introduction to Business Combinations and the Conceptual Framework Multiple Choice 1. Stock given as consideration for a business combination is valued at a. fair market value b. par value c. historical cost d. None of the above 2. Which of the following situations best describes a business combination to be accounted for as a statutory merger? ...

Syndication - ANSWER Two or more forms joining together as an entity to own real estate Estate in severalty - ANSWER Ownership by one individual Concurrent ownership - ANSWER Two or more persons share ownership with undivided interests Tenancy in common - ANSWER Co-ownership without right of survivorship to other owners Police power - ANSWER The broad right of the government to place reasonable restrictions on the use of privately held land Easement - ANSWER A right of use or enjo...

Fee Simple Defeasible Estate CORRECT ANSWER An estate of inheritance that may be nullified upon the occurrence or non-occurrence of a particular event. Escheat CORRECT ANSWER The reversion of property to the state or county, as provided by state law, in cases where a decedent dies intestate and there are no heirs. Freehold Estate CORRECT ANSWER An estate in land characterized by an interest in something immobile and of an indefinite duration Common Elements CORRECT ANSWER All real prope...

Michigan Real Estate Licensing 100% SOLUTION 2023//2024 Allodial System - ANSWER The type of land ownership existing in the United States whereby individuals may hold title to real property absolutely. Association of Real Estate License Law Official (ARELLO) - ANSWER Founded in 1929, a group of real estate license law officials that regulates more than 2 million real estate licensees. Feudal System - ANSWER A type of land ownership in medieval Europe, whereby only the king could h...

An adequate legal description of real estate is one: - Answer- by which a reasonable person can determine what property is described - the legal description is legally "adequate" if a reasonable person could identify the property based on the description. Ownership of real estate includes: a.) Rights to use the surface, subsurface and airspace over the land b.) Fixtures c.) Naturally growing tree growing on the land d.) All of the above - Answer- D.) All of the above Subsurface righ...

Allodial System The type of land ownership existing in the United States whereby individuals may hold title to real property absolutely. Association of Real Estate License Law Official (ARELLO) Founded in 1929, a group of real estate license law officials that regulates more than 2 million real estate licensees. Feudal System A type of land ownership in medieval Europe, whereby only the king could hold absolute title to real property. Free Market An economic condition in...

Mississippi Real Estate Exam Latest Version Graded A+ Real versus personal property real property: Real estate and the bundle of rights Personal property: all property that is not land or permanently attached to land, excepting trade fixtures and emblements. Physical characteristics of land immobility, indestructibility, and heterogeneity. Metes and Bounds describes property by landmarks, monuments, distances and angles. From point of beginning (POB) and returns to POB Rectan...

FL CAM License Exam 2023 Questions and Answers. 1. Condominium form of ownership is comprised of units owned by one or more persons and joint ownership of ________ share in the common elements. A. a percentage B. an undivided C. a proportional D. a complete - ANSWER-B. an undivided Condominium means individual ownership of a unit coupled with joint ownership of an undivided share of the common elements as well as mandatory membership in the association. 2. Under the General Corporate L...