Nyrei - Study guides, Class notes & Summaries

NYREI EXAM PREP QUESTIONS AND ANSWERS

NYREI QUIZ QUESTIONS AND ANSWERS

A leasehold estate that continues for a successive periods of equal length until terminated by proper notice from either party is a - correct answer Periodic tenancy Physical land and everything attached to it is called - correct answer Real Estate Equipment a tenant installs for use in his or her business is called - correct answer Trade fixture The illegal practice of inducing homeowners to sell their homes (Usually at a deflated price) by suggesting the ethinic or racial compos...

A "Rule" that says an informed buyer will not pay more for one home than a comparable one is - Substitution A borrower pays off his loan. However, the lender refuses to cancel the mortgage. Which of the following clauses of a mortgage has the lender violated? - Defeasance clause (A defeasance clause states that when the loan is paid, the mortgage is void. The bank's failure to cancel the mortgage of record is a violation of this clause. The habendum clause is the "to have and to hold" ...

NYREI PREP EXAM 2024

NY Real Estate Practice Exam Questions and Answers 2023

NYREI State Exam Guide Questions and CORRECT Answers capital gain - Ans profit from a sale, which is taxed Taxpayer Relief Act - Ans $250,000 of profit is tax-free for a single person and $500,000 for a married couple. (If one of them dies, the other can still use the $500,000 tax break for 2 years.). capital gains formula - Ans $400,000 sell price - $50,000 buy price = $350,000 gain $350,000 gain - $500,000 exemption = $0 cap gains tax

NYREI EXAM QUESTIONS AND VERIFIED SOLUTIONS RATED A.

NYREI State Exam (Created after group tutoring session (6/28/23) Graded A+