Easements and covenants - Study guides, Class notes & Summaries

Superior School of Real Estate Guide (Latest 2024/ 2025 Update) Questions and Verified Answers| 100% Correct| Grade A Q: What gets recorded Answer: DREAM OIL - deeds, restricted covenants, easements, assignments options, Installment land contracts, leases longer 3 yrs Q: Nc enabling act Answer: - Confers zoning power on municipality - zones outside the incorporated limits but subject to zoning restrictions are .... ETJ Extra-terrorial jurisdiction Q: NC zonin...

commercial builder be bound by a residential-use restriction if - ANSWER (1) grantor had common scheme (2) unrestricted lot holders had notice (majority rule) reqs for burden of equitable servitude - ANSWER intent, notice, touch and concern render title unmarketable - ANSWER (1) defects in record chain of title (adverse posession) (2) encumbrances (mortgages, liens, easements, restrictive covenants) (3) zoning violations f the buyer of land determines that the seller's title is unmarke...

What key information should a salesperson gather and verify regarding a development land? - Answer - Key documentation such as existing zoning verification - Restrictive covenants or title restrictions that apply to the property - Favourable or unfavourable environmental conditions - Transportation services - Other available services - List of expenses to plan for the effort involved in extending these services - Current economic climate for this type of investment - Physical features of...

Classifying contracts: Express & Implied - ANSWERSExpress: Bilateral, executed Intentions stated (orally or written) Implied: Unilateral, executory Inferred from conduct or actions Classifying contracts: Bilateral & Unilateral - ANSWERSBilateral - two promises (both parties bound to do something) Unilateral - Only one party is bound Classifying Contracts: Executed & Executory - ANSWERSExecuted - All tasks performed (After closing) Executory - tasks remaining to be done (befor...

Certified Pennsylvania Evaluator Exam (CPE) Questions And Answers 2023 Assessor - Correct Answer-Any person responsible for the valuation of real property for ad valorum taxation purposes Duties and Responsibilities of an Assessor - Correct Answer-Discovering, Listing, Valuing Clean & Green - Act 319 - Correct Answer-Has two values, Value in Use and Value in Exchange An Assessor is accountable to whom? - Correct Answer-Himself, taxpayers and all taxing authorities In order for an asses...

MIE 305 Exam 3 Latest Update with Verified Solutions Bundle of Rights sticks metaphor owner = entire bundle of sticks renter = only a few sticks possession, use, control, exclusion, transfer Property Rights the legal rights that a person has over a piece of real property Real Property The legal interests in land and things attached to or growing on land ex: part of the earth’s surface, buildings, fences, and trees used to describe the legal rights that a person can have i...

These statements regarding restrictive covenants on real property are all true, EXCEPT: A) They run with the land B) They are enforceable in a court of equity unless contrary to public opinion C) They are limited to a specific time period D) They may be removed from the record without legal action - C) They are limited to a specific time period Restrictive covenants are usually not limited to a time period and runs with the life of the land. The MOST important factor in determining whethe...

Real Estate Contract Forms and Addenda Exam 2 (2023/2024) 100% Pass What is Paragraph 5 in the promulgated contract address? Earnest Money What does Earnest Money Serve? As liquidated damages in the event of default Is earnest money required? NO Failure to Deliver Earnest Money in a timely manner constitutes what? Default and gives the seller the right to exercise the default remedies established by agreement of the parties in Paragraph 15. What does Paragraph 23 of the One to Four Family Re...

certificate of occupancy ~ A document issued by the governing authority stating that a building complies with applicable laws and permitting occupancy for its designated use. subdivider ~ A person who buys undeveloped average and divides it into smaller lots for sale to individuals or developers, or for the person's own use. developer ~ May also be a subdivider; improves the land, constructs homes or other buildings on the lots, and sells them. impact fees ~ Charges made in adv...

Provides for the rehabilitation or recycling of brownfields by providing a mechanism to enforce hazard mitigation controls and ease concerns about the future liability associated with contaminated properties - ️️Uniform Environmental Covenants Act (UEAC), which took effect in February 2008 Created when the person claiming the easement has made use of another's land for 21 years in PA. The claimant's use must have been continuous, exclusive, and without the owner's approval. Th...