CA DRE Exam Bundle updated 20239Graded A)

1031 tax-deferred exchange - ANSWER-Section 1031 of the Internal Revenue Code allows the owner of real property to sell that property and then reinvest in a "like-kind" property and defer paying any capital gains taxes; strict IRS rules regulate this type of exchange 1031 tax-deferred exchange ...

OR rule - ANSWER-Implying Giving EE rule - ANSWER-implying receiving Bundle of Rights - ANSWER-The rights of an owner to possess, control, enjoy, sell, lease, mortgage, and dispose of the property. Real Property - ANSWER-physical property such as land and buildings, generally immovable P...

How many baseline and meridian systems in CA? - ANSWER-3 A resident of Nebraska who owns property in CA dies while in Vermont. The probate procedures for this property are in? - ANSWER-CA In the order in which they are to occur, the three steps of agency discosure are? - ANSWER-disclose, elect...

What are the two types of freehold estates? - ANSWER-1) an estate in fee (simple absolute) 2) a life estate. What is the most complete, largest type of estate that includes all rights associated with the estate? - ANSWER-An estate in fee simple absolute What type of estate do you own if some...

There are three main areas within this subject: Listing of real property Sales contracts Marketing - ANSWER-There are three main areas within this subject: Listing of real property Sales contracts Marketing Real Estate Practices describes government regulation of brokerage transactions,...

The term "property" refers to - ANSWER-The rights or interests in the thing owed Which of the following is considered real property? - ANSWER-Airspace above the land Which of the following is considered personal property? - ANSWER-Leasehold estate which of the following is considered pers...

a running stream is considered - ANSWER-real property water found on the land in watercourses, such as natural springs, streams, or rivers and in bodies of water, such as ponds or lakes is called - ANSWER-surface water What is riparian rights - ANSWER--riparian property owners have reasonable ...

Which of the following is most vital or important in planning a subdivision: - ANSWER-Market Analysis When rent is computed on the gross sales of a business occupying real property, the lease is correctly termed: - ANSWER-Percentage Lease What is not an adequate method of transferring property...

Acceleration Clause - ANSWER-a clause in your mortgage which allows the lender to demand payment of the outstanding loan balance for various reasons. The most common reasons for accelerating a loan are if the borrower defaults on the loan or transfer title to another individual without informing the...