Autre Guides d'étude, Notes de cours & Résumés

Georgia Real Estate Exam Already Rated A Deed Document used to transfer title. Title Land+ deed, (who are the owners and what are their rights?) Real Estate Land+appurtenances (right or improvement attached to the land) Two types of characteristics of land: Physical & economic What are the physical characteristics of land? Immovable, indestructible,unique(non-homogenous) What are the economic characteristics of land? Scarcity, improvable, permanence of investment; situs Situs Prope...

BAR EXAM QUESTIONS AND ANSWERS 100% PASS Fee Simple Absolute The maximum possible estate one can possess in real property, denoting the aggregate of all possible rights that a person may have in that parcel of land Language to convey fee simple absolute: Common law v. Modern law Common law: "to A and his heirs" Modern law: "to A" Defeasible Estate Estate that may terminate before its maximum duration has run. Types of Defeasible Estates (1) Fee Simple Determinable (2) Fee Simple Subject ...

Fiduciary A person, such as an agent, placed in a position of trust; Essentially the same as a trustee. Fiduciary Duties / Agent Responsibilities O.L.D. C.A.R. Obedience Loyalty Disclosure of information Confidentiality Accounting Reasonable Skill, Care, & Diligence Caveat Emptor let the buyer beware An Appraiser Estimates Value Freehold Estates Indicates ownership for an undetermined length of time. Qualified fee estate is a Freehold Estate ...

Fee simple - Also called fee simple absolute or indefeasible fee, this fee estate is the most complete form of ownership without limitations or conditions Life estate - Grants possession and limited ownership of the property to a person for the duration of the recipients life or the life of another person Fee simple qualified estate - Also called fee simple defeasible estate. 3 different types Few simple precedent - Ownership (title) won't pass from one person to another until a partic...

Bundle of rights - correct answer PUTEE - Possession, Use, Transfer, Exclusion, Encumbrance Real property - correct answer Real estate (land + manmade attachments) + bundle of rights Legal Title - correct answer Full ownership of property + bundle of rights Equitable Title - correct answer Interest that gives the buyer the right to acquire legal title to a property if certain contractual conditions occur. Homestead - correct answer Rights to principal residence Fee simple - correc...

GEORGIA REAL ESTATE EXAM STUDY SET QUESTIONS AND ANSWERS, 100% ACCURATE, VERIFIED. Best describes parcel of land - -the surface of the earth extending down to the center and upward to infinity Determining if Fixture, NOT considered - -Value of item Characteristic in difference btwn personal prop. from real property. - -mobility When used in deed or other RE doc., legal description describes only land bc - -buildings/other improvements considered part of the real estate Item was person...

If a broker's branch office is 75 miles from his main office, the person managing this branch office must: - correct answer Have been licensed for 2 years averaging 20 hours per week in the business. Which of the following is NOT true regarding a sale-leaseback? - correct answer The ownership of the property never transfers. Dino owns property rights located on Lake Michigan where he docks his yacht. His water rights are called: - correct answer Littoral rights Which of the following i...

Superior Real Estate School Exam| Questions and Answers, 100% Correct| Newly 2024 Superior Real Estate School Exam| Questions and Answers, 100% Correct| Newly 2024 All of the following are physical characteristics of land except: A. Indestructibility B. Uniqueness C. Immobility D. Scarcity D. Scarcity Under the doctrine of specific performance, the party harmed by breach of a real estate contract can ask a judge to force the breaching party to carry out the terms of the contract ra...

What are the types of fee simple estates? - Fee Simple Absolute Fee Simple Defeasable Fee Simple Absolute - The best type of ownership you can get. Fee Simple Defeasible - Subject to occurrences or non occurrences of specified time. Two types of fee simple defeasible? - Fee simple determinable 2 Condition subsequent Fee Simple Defeasible - Will include: so long as, while, during and includes the term reverter. Reverter - Former owner can take back land with no legal action if ...

Superior Real Estate School Exam Questions and Answers All of the following are physical characteristics of land except: A. Indestructibility B. Uniqueness C. Immobility D. Scarcity - Answer- D. Scarcity Under the doctrine of specific performance, the party harmed by breach of a real estate contract can ask a judge to force the breaching party to carry out the terms of the contract rather than order the breaching party to pay monetary damages. Which physical characteristic of land is t...