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ASREB Exam prep A-1 (gray packet) Questions and Answers 2024
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ASREB Exam prep A-1 (gray packet)
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ASREB Exam prep A-1 (gray packet)The sale of personal property would include: - answer Bill of sale
What governmental right requires compensation to private property owners? - answer
Eminent domain
If property is obtained by the state after a person dies, this is called: - answer Escheat
Transfer of real property requires a: - answer Deed
This is an economic characteristic of real property: - answer Frozen asset
A promissory note is considered: - answer Personal property
These are included in the bundle of rights ownership: - answer1. Usage
2. Possession
3. Sell property at any time
Discount points: - answer1. INCREASE the lenders yield
2. Usually 1 % of loan amount
3. Decrease the loan term
A storage shed attached to a slab would be considered a: - answerFixture
If an HOA had additional expenses how would they be handled? - answerEach property
owner would pay a pro rata share.
An owner sells a property on which a farmer lives and works as a tenant. When the
property is sold who gets the crops? - answerThe farmer
The tenant's right to harvest crops after a lease is expired is called: -
answerEmblements
A lesser puts in a bookcase for commercial use, at the end of the lease, the bookcase is
removed. The bookcase would be considered: - answerTrade fixture
A lease is considered: - answerPersonal property
Ad valorem property taxes are based on: - answerAssessed value
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