Encumbrance - Study guides, Class notes & Summaries

At a closing Buyer Betsy and George were provided a deed to transfer the property to them from the seller. What type of deed would Buyer Betsy and George most likely receive from the seller at closing if there were no issues at all with the title of the property? - Answer- General Warranty Deed When transferring the property to Buyer Betsy and George the seller would need to sign the deed as the ______ and Buyer Betsy and George would need to sign the deed as ________? A. Grantor/Grantee ...

National - Real Estate Exam Practice Questions (Set One) Latest Update Graded A+ Which of the following is a lien on real estate? a. recorded easement b. recorded mortgage c. encroachment d. dead restriction b. recorded mortgage Which approach to value would MOST likely be useful to real estate brokers estimating the value of a single-family residence for sale in a subdivision? a. cost approach b. income approach c. market comparison approach d. gross rent multiplier c. ...

Lien - Answer a monetary encumbrance that asserts the lienholder has a creditor's claim to a specific monetary interest in the property's value. Priority of liens - Answer for payment after a voluntary or forced property sale typically goes by date of recordation from first to the most recent. Property Tax Liens - Answer Which lien is ALWAYS superior to other liens?

Which of the following would NOT be considered Real Property? 1. Mineral Rights 2. A Leasehold Estate 3. Fixtures 4. Air - correct answer 2. A Leasehold Estate The servient estate in an easement appurtenant is the property 1. owned by the landlord 2. on which the easement is placed 3. owned by the tenant 4. that benefits from the easement - correct answer 2. on which the easement is placed Which of the following statements concerning encumbrances is NOT true 1. All encumbran...

North Carolina Real Estate Exam Prep Basic, Ownership Interests, Encumbrances, Property Description Exam with Correct Answers Qualified Fee - Answer-aka FEE SIMPLE DEFEASIBLE This term was on practice test and didn't recognize! (you have to qualify to keep title) Estates NOT of Inheritance - 2 categories - Answer-1. Covnentional Life Estate (Life Tenant's ownership ends at his/her death). Then reverts back to grantor or grantor's heirs. 2. Martial Life Estate (abolished in NC - N...

Encumbrance CORRECT ANSWER Any interest or right to land held by third persons which affects the title and possibly the value of the property Effects of Encumbrance CORRECT ANSWER 1. Physical condition of the property, or use of property (deed restrictions, easements, and encroachments) 2. Financial, like liens. Lien CORRECT ANSWER Charge against property, making that property security for payment of a debt Nonmonetary Encumbrances CORRECT ANSWER Deed restrictions/several types of ease...

ASREB Practice Exam, Sessions 1-18 Study Guide Latest Version Graded A+ 'THE TEST' STUDY GUIDE Which of the following is in the proper order of occurence Lis pendens, judgement, execution 'THE TEST' STUDY GUIDE A closing disclosure would be used in Residential housing 'THE TEST' STUDY GUIDE A contract based on illegal consideration is Void 'THE TEST' STUDY GUIDE A contract of adhesion would refer to Standard 'take it' or 'leave it' contract 'THE TEST' S...

Champions Real Estate Finance Exam (Latest 2024/ 2025 Update) 100% Correct Questions and Verified Answers| Grade A Q: All residential mortgage loan originators must register with Answer: NMLSR National Mortgage Licensing System & Registry Q: Who is responsible for affordable housing Answer: TDHCA Texas Department of Housing & Community Affairs Q: Who is applicable to all federally related mortgage loans Answer: RESPA Real Estate Settlement Procedure Act ...

MD Real Estate Salesperson Exam Review with Certified Solutions Which of the following would NOT be considered real property? 1. mineral rights 2. a leasehold estate 3. fixtures 4. air 2. a leasehold estate - a leasehold estate is a non-freehold estate involving the tenant's right to occupy the real estate during the term of the lease The servient estate in an easement appurtenant is the property 1. owned by the landlord 2. on which the easement is placed 3. owned by the...

MA Real Estate Exam study guide. Notes have been taking directly from book and other recourses. 2024 Types of Property: Personal property -Answer-Refers to land/things that are moveable& tangible. furniture, tv, swings, artificial plants Types of Property: Real property -Answer-Refers to land/things that are permanently attached. plants, building tree, ground minerals Land Characteristics: Physical, Immobility -Answer-Land cannot be moved Land Characteristics: Physical, Indestructibility...