Real Estate Utah (100% Accurate)

Dennis and Sarah are the listing agent and principal broker for a Utah transaction scheduled for settlement next week. Which closing document tells the title insurance company the commission amounts they'll each receive when the sale closes? a. Closing Disclosure b. Closing instructions c. Closi...

b. be afforded a hearing before the Utah Real Estate Commission correct answers Before a licensee's license may be suspended or revoked for prohibited discriminatory practices, the licensee must:b. be afforded a hearing before the Utah Real Estate Commission b. 90 days correct answers After b...

The word "Ownership" means the same thing as the word A.Freehold B.Leasehold C.Possession D.Both A & C correct answers D. Both A & C The highest interest in real estate recognized by law is: A.Fee Simple Defeasible B.Legal Life Estate C.Fee Simple Absolute D.Fee Simple Determinable corr...

Trust accounts are designed for other people's money correct answers True The Real Estate Trust Account can draw interest not to exceed..... correct answers 0% According to Utah Law, the earnest money must be deposited within ---- business/banking/working days correct answers 3 In the real...

State approved forms: correct answers 1. Purchasing property 2. Seller financing NOT Agency agreements or lease agreements Responsibilities of an associate broker correct answers Negotiate leases, take listings, and prepare closing documents. Not: Pay commissions Who owns the supportin...

Habendum Clause correct answers That part of a deed beginning with the words "to have and to hold," following the granting clause and defining the extent of ownership the grantor is conveying. Bargain and Sale Deed correct answers A deed that carries with it no warranties against liens or other...

Purchase contracts correct answers Which types of contracts are state approved in Utah? Prior to the sale, under the equitable right of redemption correct answers In Utah, if an owner defaults on his or her mortgage loan and the property is ordered sold at a foreclosure sale, the owner may redeem...

Trust Deed correct answers An instrument used to create a mortgage lien by which the borrower conveys title to a trustee, who holds it as security for the benefit of the note holder (the lender); also called a deed of trust. To avoid judicial foreclosures. Economic Characteristics of Real Propert...