REE 3043 TEST 2 QUESTIONS WITH VERIFIED ANSWERS – UPDATED!!!
8 views 0 purchase
Course
REE 3043
Institution
REE 3043
REE 3043 TEST 2 QUESTIONS WITH VERIFIED ANSWERS – UPDATED!!!
Property taxes are the principal source of revenue for: - Answer-Local governments and school districts
Zoning is an exercise of which type of general limitation on property rights? - Answer-zoning police
Which of the following s...
REE 3043 TEST 2 QUESTIONS WITH
VERIFIED ANSWERS – UPDATED!!!
Property taxes are the principal source of revenue for: - Answer-Local governments and
school districts
Zoning is an exercise of which type of general limitation on property rights? - Answer-
zoning police
Which of the following statements is (are) correct regarding the June 2005 ruling of the
US Supreme Court on the Kelo vs. New London, Connecticut Eminent Domain Case. -
Answer-all of these answers are correct
The Federal government has the greatest influence on real estate through its
__________ policy - Answer-income tax
Real estate property taxes generate approximately _______ of local government
revenue - Answer-70%
As a result of growth management laws, municipalities may impose a number of
requirements, but not: - Answer-Employee benefit statement
Three students, John, Kathryn and Michelle, upon graduation from UCF, plan to invest
in Real Estate. John is going to buy shares in an Exchange-Traded, Equity, Real Estate
Investment Trust (REIT). Kathryn is going to purchase shares in Home Properties, Inc.
a leading Equity, REIT. Michelle is going to purchase a four-unit apartment building near
UCF, to rent to college students. In light of this, which of the following statements is
most correct? - Answer-John and Kathryn will be indirect equity investors in real estate
and Michelle will be a direct equity, real estate investor.
Which of the following statements is (are) correct about Real Estate Investment Trusts
(REITs): - Answer-All of these answers are correct. (Mortgage REITs lend money to
owners and developers of real estate, or invest in financial instruments secured by
mortgages on real estate; To qualify as a REIT, The Internal Revenue Service requires
that a company pay out 90% of its taxable income to shareholders every year; Hybrid
REITs are a combination of Equity REITs and Mortgage REIT; REIT shares trade on
national stock exchanges or in the over-the-counter markets (OTC); Equity REITs invest
in, or own, real estate and make money from the rents they collect.)
A market where tenants negotiate rent and other terms with property owners or their
managers is referred to as a: - Answer-user market
Which of these is a titled estate? - Answer-all of these answers are correct
, The city of Grand Rapids installed a new water main on Oak Street. The city then
decided to charge the property owners along Oak Street a proportional cost of the new
water main. If a property owner refuses to pay their proportional share of the cost, the
city may file: - Answer-an assessment lien
Which of these forms of co-ownership could best be described as "normal ownership,"
except that multiple owners share identically in one bundle of rights? - Answer-Tenancy
in common
Which of these liens has the highest priority? - Answer-property tax lien
The term "real estate" is used in three fundamental ways. These include all of the
following EXCEPT - Answer-to identify all types of property.
The single largest asset category of U. S. households, relative to their total assets, is: -
Answer-housing
Items that are not naturally-occurring on land, such as a building, sidewalk or swimming
pool are called the ____________ the land. - Answer-improvements on
Real Estate as an industry or profession includes which of the following: - Answer-All of
these answers are correct. (Government Regulation and Taxation, Property
Management, Mortgage Finance, Development)
Housing alone represents approximately ______ percent of U.S. household wealth. -
Answer-22
In Florida, designating a principal residence as a homestead: - Answer-protects the
residence from bankruptcy sale.
Rules used by the courts to determine whether something is a fixture include all
EXCEPT : - Answer-Law of Capture.
Which of these marriage-related forms of co-ownership gives the surviving spouse
about one-third of all the decedent's personal property and in-state real property? -
Answer-dower/curtesy
Which of the following is not a non-possessory interest in real property? - Answer-patent
The city of Grand Rapids installed a new water main on Oak Street. The city then
decided to charge the property owners along Oak Street a proportional cost of the new
water main. If a property owner refuses to pay their proportional share of the cost, the
city may file - Answer-an assessment lien
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 Perfectscorer. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $12.99. You're not tied to anything after your purchase.
