Leasehold policy - Study guides, Class notes & Summaries

Missouri Insurance Test Questions 100% aTenants in Common - Passed to surviving heirs - ANSWERTenants do not have right of survivor ship. If a tenant dies, ownership is passed to the surviving heirs. Joint Tenancy - Right of Survivorship - ANSWERA form of concurrent ownership, which occurs when two or more persons own a single estate in land, with right of survivorship. Must have equal shares, right to partition. Warranty Deed - Main, basic deed - ANSWERA deed that guarantees a clear titl...

Pearson Vue Practice Exam Questions and Answers Latest Updated 2024/2025 | Scored A+. In stating a seller's price and terms to a prospective buyer, the seller's broker is required by the law of agency to state ONLY those terms that are a. included in the listing agreement b. based on the brokers evaluation of prevailing prices and terms c. favorable for the seller, as determined by the broker d. attractive to buyers, as determined by the broker a. included in the listing agreement a lot ...

National Real Estate Exam All Answers Correct & Verified Which of the following constitute an estate (tenancy) for years? A month-to-month lease. A tenancy at sufferance. A lease that is set to last six months. A tenancy at will. 67. A federal law that regulates t 1. Which method of legal description uses point of beginning, direction and distance? Metes and bounds. Lot and block. Government rectangular survey. Recorded plat. Metes and bounds. Previous Play Nex...

Means having importance, relevance or consequence to a person making a decision regarding the purchase, sale or lease of real estate. CORRECT ANSWER Interest in the transaction You must have a trust account for CORRECT ANSWER Each area of business must have a separate trust account A provision in an insurance contract limiting the maximum liability of an insurer for a series of losses in a given time period, such as the policy term is: CORRECT ANSWER Aggregate Limit The Wyoming Real Est...

ALTA 1 - CORRECT ANSWER-Street Assessments ALTA 2 - CORRECT ANSWER-Truth in lending owners policy - CORRECT ANSWER-insures estates of ownership, remains constant over the life of the property. Covers property line disputes. A type of title insurance issued in the name of the property owner. Coverage runs from the time of purchase for as long as the policyholder owns the property. mortgage lender policy (loan policy) - CORRECT ANSWER-lender policy insures mortgage company interest (writ...

Tenants in Common - Passed to surviving heirs - correct answer Tenants do not have right of survivor ship. If a tenant dies, ownership is passed to the surviving heirs. Joint Tenancy - Right of Survivorship - correct answer A form of concurrent ownership, which occurs when two or more persons own a single estate in land, with right of survivorship. Must have equal shares, right to partition. Warranty Deed - Main, basic deed - correct answer A deed that guarantees a clear title to the buye...

Pearson Vue Practice Exam Questions and Answers Latest Updated 2024/2025 | Graded A+. In stating a seller's price and terms to a prospective buyer, the seller's broker is required by the law of agency to state ONLY those terms that are a. included in the listing agreement b. based on the brokers evaluation of prevailing prices and terms c. favorable for the seller, as determined by the broker d. attractive to buyers, as determined by the broker a. included in the listing agreement a lot ...

Pearson Vue Practice Exam Questions and Answers Latest Updated 2024/2025 | Rated A+. a lot measuring 110 feet wide by 140 feet deep has a required setback of 30 feet in front, 20 feet in the rear, and 20 feet on each side. if a builder wants to put a one-story building on the lot, the MAXIMUM square footage it can contain is a. 3,300 sq ft b. 3,600 sq ft c. 6,300 sq ft d. 6,600 sq ft c. 6,300 sq ft a house with a market value of $80,000 is located where property is assessed at 70% of mark...

Pearson vue practice exam questions with Correct Answers K and R bought a house as tenants in common. If K dies, which of the following statements about ownership of the house is CORRECT? a. it automatically becomes tenancy in severalty b. it is divided, with R retaining R's original interest and the balance going to K's estate C. R holds fee simple ownership in k's share of the property d. R holds life estate ownership in K's share of the property - Answer-B. it is divided, with R ...

Owners Policy - Answer Policy of Title Insurance issued to the fee simple owner of a property, which provides the insured coverage over risks described on the policy. ALTA form - Answer American Land Title Association - created and distributed several uniform forms for use across the entire industry, which title insurers can choose to use. Each form must be submitted by the individual insurer to the Department for approval. These forms include Policies and Endorsements. Loan Policy -...