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Exam (elaborations)

PA Real Estate Exam (Salesperson) Questions and Answers (100% Pass)

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  • Course
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  • Real Estate

Easement A limited right to make use of a property owned by another. Appurtenant Runs with the land Easement Appurtenant An easement allowing the use of a neighboring property Which type of ownership includes the right of survivorship? Joint Tenancy Fully Executed A contract that ha...

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  • October 12, 2024
  • 16
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers
  • Real Estate
  • Real Estate
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MASTER01
1 | P a g e | © copyright 2024/2025 | Grade A+




PA Real Estate Exam (Salesperson)
Questions and Answers (100% Pass)
Easement


✓ A limited right to make use of a property owned by another.




Appurtenant


✓ Runs with the land




Easement Appurtenant


✓ An easement allowing the use of a neighboring property




Which type of ownership includes the right of survivorship?


✓ Joint Tenancy









Fully Executed


✓ A contract that has all of its terms and conditions met.



Master01 | October, 2024/2025 | Latest update

, 1 | P a g e | © copyright 2024/2025 | Grade A+

Severable Rights


✓ surface, air, subsurface can be sold separately




resort timeshare


✓ the exclusive use of a property for a specified number of days each

year




Fee simple Absolute


✓ The highest level of property ownership giving the owner(s) the right of

possession, control, exclusion, enjoyment, & disposition




Tennancy in common


✓ An ownership of realty by two or more persons, each of whom has an

undivided interest, without the "right of survivorship".




TENNANCY IN SEVERALTY


✓ one property owner




4 Land Use Controls


✓ police power, escheat, eminent domain, and taxation.



Master01 | October, 2024/2025 | Latest update

, 1 | P a g e | © copyright 2024/2025 | Grade A+

Why do cities require building permits?


✓ To require a minimum level of construction standards




A Variance


✓ Allows the property owner to deviate from the regular zoning

requirements set forth by the zoning board.




eminent domain


✓ the right of government to take private property for public use




Escheat


✓ The state takes property upon an owners death if there is no will & no

heirs exist.




Comparative Market Analysis (CMA)


✓ Price comparison for seller's use when listing




Highest and Best Use


✓ The use that will give the owners the greatest actual return on their

investment



Master01 | October, 2024/2025 | Latest update

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