REAL ESTATE U FINAL EXAM AND FINAL PRACTICE EXAM LATEST ACTUAL EXAM 120 QUESTIONS AND CORRECT DETAILED ANSWERS
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Course
2024/2025
Institution
2024/2025
REAL ESTATE U FINAL EXAM AND FINAL PRACTICE EXAM
LATEST ACTUAL EXAM 120 QUESTIONS AND
CORRECT DETAILED ANSWERS
Article 12 A - Answer️️ -NYS Real Estate Property Law (1) Protect the public (2)
Salesperson at least 18 (3) broker at least 20 years .
Sponsor - Answer️️ -Broker that holds ...
Independent Contractor - Answer✔️✔️-Not an employee. Agrees to do something for
someon else based on a contract. Does not have to work anywhere specifically and
broker cannot control the person's activities
Bundle of Rights - Answer✔️✔️-Ownership comes with an array of rights including livign,
leasing, selling (in part or whole). Includes quiet enjoyment
Littoral Rights - Answer✔️✔️-Rights to water along a property
Riparian Rights - Answer✔️✔️-Rights to running water along a property
Specifc Lien - Answer✔️✔️-Lient against a specific asset, like a mortgage
Voluntary lien - Answer✔️✔️-Voluntary lien against an asset, like a mortgage
tax Lien - Answer✔️✔️-Involuntary lien against asset so that the asset owner has to pay
taxes
Easment - Answer✔️✔️-A right to cross someone elses propoerty to get to yours
Encumberance - Answer✔️✔️-Something that is in the way of clear title to a propoerty
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