RE LAW SAE aceable final exam Question and answers correctly solved

RE LAW SAE aceable final exam Question and answers correctly solved Which of these is a bilateral contract? - correct answer Richard signs a contract to buy James's house. What does severalty mean? - correct answer sole ownership What agency is responsible for enforcing TRELA? - correct answer TREC What is the difference between a subdivider and a developer? - correct answer A subdivider parcels out the land; a developer builds things on it. If a landlord has the power to retake the property after the lease term has expired, this means they have a: - correct answer A landlord has a reversionary right; this means that the landlord has the power to retake the property after the lease term has expired. Therefore, the landlord's interest in the property is known as a leased fee estate plus reversionary right. Alex defaulted on his loan and lost his house to foreclosure. This is an example of: - correct answer Involuntary Alienation The concept of escheat means that property: - correct answer `reverts to the state when a person dies without a will, an heir, or a creditor Which of the following has a long lease term and is often used in the development of commercial property? - correct answer Ground lease What is adverse possession? - correct answer A method of gaining legal title to real property by the actual, open, hostile, and continuous possession of it. What is a contour map used for?