REAL ESTATE U FINAL EXAM AND FINAL PRACTICE EXAM LATEST ACTUAL EXAM 335 QUESTIONS AND CORRECT DETAILED ANSWERS /ALREADY GRADED A+.
9 views 0 purchase
Course
REAL ESTATE U
Institution
REAL ESTATE U
REAL ESTATE U FINAL EXAM AND FINAL PRACTICE EXAM LATEST
ACTUAL EXAM 335 QUESTIONS AND CORRECT DETAILED ANSWERS /ALREADY
GRADED A+.
REAL ESTATE U FINAL EXAM AND FINAL PRACTICE EXAM LATEST
ACTUAL EXAM 335 QUESTIONS AND CORRECT DETAILED ANSWERS /ALREADY
GRADED A+.
REAL ESTATE U FINAL E...
REAL ESTATE U FINAL EXAM AND FINAL PRACTICE EXAM LATEST 2024-2025
ACTUAL EXAM 335 QUESTIONS AND CORRECT DETAILED ANSWERS /ALREADY
GRADED A+.
Article 12 A - ANSWER-NYS Real Estate Property Law (1) Protect the
public (2) Salesperson at least 18 (3) broker at least 20 years .
Sponsor - ANSWER-Broker that holds salesperson license
Summary of Submission - ANSWER-Paper you get after registering
for NYS test. Bring to tes with you
Misedemanor - ANSWER-Crime with no more than 1 year prison or
$1,000 fine
Listing Agreement - ANSWER-Agreement between salesperson and
property owner, allowing salesperson to provide services to the
owner involving their porperty
Pocket Card - ANSWER-Has salesperson photo, name, and business
address of broker. Carry at all times
Fiduciary - ANSWER-Person responsible for other people's property
and/or funds
OLD CAR - ANSWER-Obedience, Loyalty, Diclosure, Confidentiality,
,Accountability, and Reasonable Care
Disclosure Regarding Real Estate Agency Relationship Form -
ANSWER-First form given to clien that establishes the business
relationship and understandings
Exclsive Agency - ANSWER-When client agees that only one broker is
going to sell a property. Even if someone else sells, the exclusive
agent is entitled to commisions.
Principal - ANSWER-Client / Propert owner or buyer
Price Fixing - ANSWER-When multiple agents/brokers work together
to determine the price of a service so that noone can get a better of
worse deal. Illegal
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
Affirmtive Easment Appurtenant - ANSWER-A forced easment
because of the fact that someoen would not be able to get to their
property without it.
Full Covenant and Warranty Deed - ANSWER-Best kind. States that
seller has clear title
Quitclaim Deed - ANSWER-Deed that states what the owner owns and
what he/she has thr right to.
, Habednum Clause - ANSWER-To have and to hold . Descirbes what a
person has if the person hold the deed
Deliver and Acceptance - ANSWER-After deed is deliverd and
accepted, it has to be properly recorded
Chain of Title - ANSWER-History of who has owned a speciifc title
Title - ANSWER-Legal Term for ownership f the budle of rights in real
estate
Closing Statement - ANSWER-Document detailing fees, commisions,
insurance, etc tha makes a transaction vaid
Essential Elements of a Contract - ANSWER-(1) in writing (2)
consideration (3) competant parties
Estate for years - ANSWER-Non automaticlly reneable lease for a
specific period of time
Express Contract - ANSWER-Contract the expresses all essential
elements of a contract.
Attorney Review Clause - ANSWER-Clause that allowsa buyer to back
out of a deal at any point in time during the transaction.
Mortgage Contingency Clause - ANSWER-Clause that states a
contract is only vald if the buyers can get a mortgage
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller nyagajoseph539. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $25.99. You're not tied to anything after your purchase.
