Nyrei Study guides, Class notes & Summaries

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...

NYREI Exam With 100% Correct Answers 2023 employee - Correct Answer-someone who works under the direction and control of another independent contractor - Correct Answer-individual who is self employed statutory employee - Correct Answer-independent contractors specifically classified as employees by statute for social security and medicare taxes statutory non-employees - Correct Answer-direct sellers and licenses real estate agents; treated as independent contracts for all tax purposes...

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

NYREI Terms Exam Questions and Answers Accession - CORRECT ️️ Gives property owners the right to everything produced by their land Accessory Apartment - CORRECT ️️ an apartment within a single family dwelling Accord and Satisfaction - CORRECT ️️ an agreement to accept something different (usually less) from what the original contract required Accretion - CORRECT ️️ the gradual addition of land by the forces of nature actionable fraud - CORRECT ️️ fraud meeting certain...

NYREI PREP EXAM 2024

NYREI STATE EXAM GROUP TUTORING According to the New York State Real Property Law, a real estate salesperson's license is issued for a term of how many years? - CORRECT ️️ Two What type of residential real property transfer would require a property condition disclosure statement? - CORRECT ️️ Re-sales What happens to the licenses of salespersons if their sponsoring broker's license is revoked or suspended? - CORRECT ️️ They are suspended A listing broker for the seller has a...

NYREI EXAM QUESTIONS AND VERIFIED SOLUTIONS RATED A.

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" ...