Easements and covenants - Study guides, Class notes & Summaries

California Real Estate Exam: Questions & Answers Latest Update 2023/2024 100% Verified. Reed vs. King Case (Ans- Must disclose death (and manner of death) on a property if occurs within 3 years, except AIDS Jones vs. Mayer Supreme Court Decision (1968) (Ans- Racial discrimination not allowed (whether selling or buying) in all PRIVATE property transactions (based on Civil Rights Act of 1968) Easton vs Strassburgar (Ans- Seller disclosures to third parties AND agent visual inspection of all...

Which of the following would create legally binding acceptance of a written offer? -The seller's agent emails the buyer's agent that the seller signed the offer as written. A broker is preparing a comparative market analysis (CMA) for a subject property with 3200 square feet. A comparable property has 2750 square feet. The estimated value of 450 additional square feet is $22,500. The broker should... -Add $22,500 to the sales price of the comparable property. An option to purchase has bee...

Easements and Covenants Question and answers verified to pass 2024/2025 Easements and Covenants What is an Easement? - correct answer The right to use another's property for a specific use. Dominant vs. Servient Estates - correct answer Dominant - Land benefited by the easement Servient - Land burdened by the easement, easement runs through) Impertinent Easement - correct answer Any type of easement where the dominant estate is benefited by the servient estate. Can only be ...

PSI PA State Real Estate Practice Exam Questions and Answers 100% Pass Requires the seller to provide notice to a purchaser about whether a structure on the land is entitled to support from the underlying coal. Coal Notice Three conditions that must be met for a mobile home to be considered real estate 1. Mobile home is transferred in conjunction with and as a part of an assignment of a land lease or the transfer of an interest in land on which the mobile home is situated; or 2. Mobile home is...

Created to serve as a complete, comprehensive code regulating the construction of single-family, two-family and buildings consisting of three or more townhouse units. - Answer IRC (International Residential Code) Administrative - Answer First 2 chapters of code book are True - Answer Plans or supporting documents are almost always required by the controlling authority prior to issuing a permit. T or F Yes - Answer Does the building official have the authority to render interpretations o...

Co ownership types: - - Condominium - Cooperative - Timeshare Land - may include more than the earth, may also include improvements to the land personal property - things that are movable & not permanently affixed to the land Ownership rights - Real estate provides people with this "bundle of rights" - Rights to: Use/Occupy Sell Lease Give away Do all or none "real property" vs. real estate security privacy location User markets - characterized by competition among users for ...

ad valorem - Answer- According to Value The basic responsibilities of an Appraiser to all taxable property. - Answer- 1. Discovery 2. Listing 3. Valuation The taxable location of personal property is referred to as its' - Answer- Situs The type of value usually estimated by an Appraiser is the - Answer- Market Value The effective tax rate reflects the ratio between what - Answer- The current tax bill and the property value Assessment level times the tax rate equals - Answer- Th...

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

Superior School of Real Estate Exam| Questions and Verified Answers| 100% Correct| Grade A (Latest 2024/ 2025 Update) Q: Which of the following scenarios best illustrates first substantial contact? Answer: Seller states that she must relocate by the end of the year. Q: Liens, restrictive covenants, easements, and encroachments are all examples of... Answer: Encumbrances. Q: A detached workshop extends over the property line onto the neighboring lot by six inches. T...