Easements Study guides, Class notes & Summaries

A Community Association is generally defined as real or personal property, owned by two or more entities, which share the responsibility for the costs of maintenance and administration - True Purchasers of a timeshare plan have a ten day contract rescission period in which to cancel the purchase - True The Florida Fair Housing Act prohibits discrimination on the basis of handicap - True A valid Declaration of Condominium must contain easements for ingress and egress to all units and the co...

Residential Sales Comparison and Income Approaches Exam - Spring 2024, Answered A mortgage with equal payments for each period over the length of the loan is called a __________ loan. Standardized Equal rate Graduated payment Fixed rate The first step in the Sales comparison approach procedure is to research the market The COMPETENCY RULE of USPAP says an appraiser must have "the _______________________ to complete the assignment competently." Knowledge and experience The Sales Comparison Ap...

Wrongful or criminal deception intended to result in financial or personal gain is called: - Answer- fraud The Buyer and Seller Temporary Residential Lease forms may be used for a lease period not to exceed: - Answer- 90 days __________ extend above the surface without limitation. - Answer- air rights An example(s) of an appurtenance would be: - Answer- easements There is no upper limit on the value of a Texas homestead. - Answer- true A(n) __________ is one that combines some of ...

A broker listed a residential property for 180 days. After the listing expired, the seller asked the broker to rent it out. Which of the following statements BEST describes the broker's obligations? The broker could hire an unlicensed person to rent the property. A licensed Florida broker is doing seminars on Florida property at dinners in various places in Kansas. Some people have asked her if they can purchase the properties. Which is true regarding her need for a Kansas license? She...

Classifying contracts: Express & Implied - ANSWER Express: Bilateral, executed Intentions stated (orally or written) Implied: Unilateral, executory Inferred from conduct or actions Classifying contracts: Bilateral & Unilateral - ANSWER Bilateral - two promises (both parties bound to do something) Unilateral - Only one party is bound Classifying Contracts: Executed & Executory - ANSWER Executed - All tasks performed (After closing) Executory - tasks remaining to be done (befor...

Title Insurance - correct answer -Insured statement of the condition of title or ownership of real property. For a one-time-only premium, the named insured and their heirs are protected against title defects, liens, encumbrances existing as of the date of the policy and not specifically excluded from it. In the event of a claim , the title company provides legal defense from the policyholder and pays any covered losses incurred as a result of such claim. Commitment/Binder 1 - correct answer -...

commercial builder be bound by a residential-use restriction if - ANSWER (1) grantor had common scheme (2) unrestricted lot holders had notice (majority rule) reqs for burden of equitable servitude - ANSWER intent, notice, touch and concern render title unmarketable - ANSWER (1) defects in record chain of title (adverse posession) (2) encumbrances (mortgages, liens, easements, restrictive covenants) (3) zoning violations f the buyer of land determines that the seller's title is unmarke...

property law - Answer ️️ The law of the legal fence that establishes exclusive right in someone called an owner. What rights does property law convey? - Answer ️️ - build on it - exclusive possession - sell it - grow things (crops and animals) - easements - lease/ rent - run a business - privacy - offer as collateral how do you acquire property? - Answer ️️ - accession - buy it - inheritance - trade - gift - law of "finds" - establish a trust Law of Finders - Answ...

Texas-Principles of Real Estate=1 Exam Practice Questions and Answers Verified 2023 - Champions School of Real Estate Texas - Principles 1 Exam Practice Questions and Answers Verified 2023 - Champions School of RealEstate Texas Principles 1 Exam Practice Questions - Champions School of Real Estate 1. a: Townhomes and single-family homes differ in that a common wall. (a) townhomes share (b) single-family homes are sold as distinct living units within (c) owners of townhomes do not o...

LEGL Test #3 Chapters 7,10,11,13 Questions and Answers property law - Answer ️️ The law of the legal fence that establishes exclusive right in someone called an owner. What rights does property law convey? - Answer ️️ - build on it - exclusive possession - sell it - grow things (crops and animals) - easements - lease/ rent - run a business - privacy - offer as collateral how do you acquire property? - Answer ️️ - accession - buy it - inheritance - trade - gift - law ...