Beneficiary deed - Study guides, Class notes & Summaries

Tennessee National Portion REAL ESTATE EXAM Latest 2024 Graded A+ A corporation is - Answer ️️ -a legal entity that can buy and sell real estate as set out in its charter. Ownership in severalty is - Answer ️️ -property owned by one individual or corporation. A house is owned by three joint tenants, and one of the owners, as permitted by state law, sells that interest to a new owner. The result is a - Answer ️️ -tenancy in common between the new owner and the remaining joint t...

Superior NC Real Estate Important Final Exam Questions and Answers RESPA -Answer--Real Estate Settlement Procedures Act: applies ONLY to 1-4 family residential transactions, transactions involving a "federally related" mortgage (conventional, FHA, VA) Which party's signature is required on a deed of trust? A. the trustee B. the beneficiary C. the trustor(s) D. the grantee(s) -Answer-C. the trustor(s) The trustor is the borrower in a lending situation using a trust deed. The borrower is...

Which of the following is most vital or important in planning a subdivision: - ANSWER-Market Analysis When rent is computed on the gross sales of a business occupying real property, the lease is correctly termed: - ANSWER-Percentage Lease What is not an adequate method of transferring property? - ANSWER-Executive Sale What is considered personal property? - ANSWER-Existing Mortgage If an income property is valued at $100,000 based on an 8% capitalization rate, what would be the value...

Superior Real Estate Highlighted Points in Class Exam Questions And Answers Alienation means what referring to a title -Answer-Transfer or means -Answer-Gives ee means -Answer-Receives SC ______ theory state -Answer-Lien Mortgagor. ....... Buyer Mortgagee.........Bank Petition the court to foreclose NC _________ theory state -Answer-Title Deed of trust is the mortgage Trustee...... law firm Trustor.......Buyer Beneficiary. ..... Bank Foreclosure go through probate NC OTPC -Answer-...

AZ Real Estate Exam Study Guide With Accurate Solutions. Descent, law of - answerA system whereby title to property passes by operation of law to the heir of one who dies owning property without a will Adminstrator - answerCourt-appointed personal representatives of an estate for someone who dies intestate May be called adminstratrix if female Beneficiary deed - answerIn AZ, a deed that is used to transfer title of real property to a beneficiary upon the death of the property O to avoid ...

CA Insurance License Exam Questions and Answers 100% Correct As used in this code the word "shall" is - Correct Answer ️️ -Mandatory (unless otherwise apparent) As used in this code the word "may" is - Correct Answer ️️ -permissive (unless otherwise apparent) "Oath" includes - Correct Answer ️️ -affirmation "Person" means - Correct Answer ️️ -person, association, organization, partnership, business trust, limited liability company, or corporation Definition of In...

When the county assessor evaluates real estate for the purpose of taxation, this is called: - Assessed value What lien has priority first: - Property taxes Property taxes become a lien the first day of: - January If a property is not bid at a tax foreclosure sale: - Anyone can later buy the tax lien from the Treasurer Rank the following in order: IRS lien, Property Taxes, Special Assessments - Property Taxes, Special Assessments, IRS Liens When a broker misappropriates funds, this is cal...

A commercial property was in foreclosure and after the sale, the mortgagee did not receive enough money to satisfy the note. Which of the following statements is true? - The lender can sue for a deficiency judgment against the borrower A borrower can be relieved of primary responsibility for a mortgage by finding a buyer who is willing to: - Assume the loan A broker and an owner discussed several types of listing agreements and decided upon an exclusive right to sell. The broker drafted th...

After a trustee's sale, there is money left over after paying the beneficiary of the first trust deed. This money would go first to the: Ans Beneficiary of the second (the second in line to receive what they are owed) The owner of the property encumbered with a first and second trust deed wants to refinance the first trust deed. What should the second trust deed contain? Ans A subordination clause (a clause where the holder of a mortgage/trust deed permits an additional (NEW) lien to t...

Exam Real Estate Version A Questions and Answers 100% Pass Which of the following are required of deeds to be enforceable: D. Grantors Signature Personal property could be: D. Emblements Real property is: B. Transferred by a deed What is it called when the government gives a parcel of real property back to a private citizen: B. Vacation A chain of title: D. Lists all the grantors and grantees since the beginning A grantor is: A. Person transferring real property Consider...