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Wisconsin Real Estate Sales Exam Questions 100% Correct
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Wisconsin Real Estate Sales Exam Questions 100% Correct
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Wisconsin Real Estate Sales ExamQuestions 100% Correct
WB-11 - -Residential Offer to purchase
-WB-13 - -Vacant Land Offer to purchase
-WB-46 - -Multiple Counter Proposal
-Wb-44 - -Counter offer
-WB-41 - -Notice relating to offer to purchase
-WB-40 - -Amendment to offer to purchase
-Wb-14 - -Residential Condominium offer to purchase
-Dick and Tracy buy a house, and as such, they have to right to live in he
house. This would best represent which of the following rights? - -Right of
Posssesion
-Rugs in a house are an example of - -Personal Property
-The three requirements for a mobile home to be considered real property
include - -connected to utilities, set on a foundation and is set on land
owned by the mobile home owner
-To determine if personal property has become a fixture, a court would
consider - -the intent of the parties, how the item has been adapted to the
real estate and how the item is addressed in the offer
-If a bathroom is remodeled in a home, this would be and example of - -
Improvement
-If a county takes part of your land to build a road, this is an example of - -
Eminent Domain
-Dick's mother wants to five the family home and surround land to the
township to be used as a park. If at any time the land ceases to be used as a
park, it will go to Dick and/ or his heirs. - -A fee simple defeasible estate
-Tracy wants to open a beauty shop; as part of her lease, she has to pay the
property taxes, the building insurance, and maintenance costs. What type of
lease is this? - -Triple net Lease
, -Dick and tracy are buying a home together. When Dick dies, he wants his
share of the house to go to his brother and sister, and Tracy wants her share
to go to her mother. What types of of tenancy is this? - -Tenancy in common
-You just bought a condominium. Your group of condominiums has a
swimming pool. This would be a - -Common element
-Cooperative - -A form of real estate ownership where a group of people join
to own and control the buildings where they live
-Eminent Domain - -the right of the government to obtain private property
for public use with the payment of just compensation
-Escheat - -When an owner dies and leaves no heirs and now will, the
property goes back to the state
-Estate for years - -a lease of any length that has a specific beginning and
end date
-Fee simple absolute - -and interest in land that includes the entire bundles
of rights that pass with a property; inheritable interest
-Fee simple defeasible - -an estate in land that continues until the
happening or non-happening of an event
-Fixture - -anything that has in some way become permanently attached to
real estate
-Freehold estate - -and interest in land that deals with possession. it is a
real property interest
-Graduated Lease - -a tenant pays a specified rent at set future Times/date
-Gross lease - -the tenant pays a fixed amount of rent, and the landlord
pays all of the other expenses
-Homestead - -a dwelling, and so much of the land that surrounds it, not
less than 1/4 acre and not exceeding 40 acres
-Joint Tenancy - -real property ownership where there are survivorship
rights between the owners
-leasehold estate - -and interest in land that involves a landlord and a
tenant. It is a personal property interest
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