NYREI Exam Prep questions with correct answers

A leasehold estate that continues for a successive periods of equal length until terminated by proper notice from either party is a CORRECT ANSWER Periodic tenancy Physical land and everything attached to it is called CORRECT ANSWER Real Estate Equipment a tenant installs for use in his or her business is called CORRECT ANSWER Trade fixture The illegal practice of inducing homeowners to sell their homes (Usually at a deflated price) by suggesting the ethinic or racial composition of the neighborhood Is changing, with the implication that property values will decline is called CORRECT ANSWER Blockbusting Loans that follow the criteria set by secondary markets are called CORRECT ANSWER Conforming loans A "Rule" that says an informed buyer will not pay more for one home than a comparable one is CORRECT ANSWER Substitution Funds offered as an indication of good faith regarding a future performance of a purchase agreement is called CORRECT ANSWER Earnest money Possession of property by a holdover tenant is CORRECT ANSWER Tenancy at sufferance