Pennsylvania real estate - Study guides, Class notes & Summaries

Quincy is a Pennsylvania broker acting as a transaction licensee. Which of these, if performed, would violate duties Quincy owes in the transaction licensee capacity? - Disclosing that the seller would accept an offer below list price A/an ______ is the person responsible for supervising associate brokers and/or salespersons in Pennsylvania. - Broker of record What are Pennsylvania brokers required to place outside of their licensed place of business? - A sign showing the licensed brokerag...

The economic characteristics of land are - scarcity, location, and durability A major difference between freehold and nonfreehold estates is that all freehold estates - are of indeterminable duration An easement can be terminated by - merger of titles The land description T3N, R4W Principal Meridian refers to what method of property description? - Rectangular survey Tenants are still in their rental property even though their lease has expired. The landlord has given them written notice t...

Quincy is a Pennsylvania broker acting as a transaction licensee. Which of these, if performed, would violate duties Quincy owes in the transaction licensee capacity? - Disclosing that the seller would accept an offer below list price A/an ______ is the person responsible for supervising associate brokers and/or salespersons in Pennsylvania. - Broker of record What are Pennsylvania brokers required to place outside of their licensed place of business? - A sign showing the licensed brokerag...

POLLEY PENNSYLVANIA REAL ESTATE PRACTICE 2020 WITH COMPLETE SOLUTIONS 100%

Harrisburg resident Joseph Bell has worked full-time for Larry Keen, who is the builder-owner of dozens of homes just outside of Harrisburg. Joseph is Larry's "right-hand man," and Larry has given him permission and the authority to take on many of Larry's tasks. Joseph routinely lists homes for sale, as well as actually selling the real estate on Larry's behalf, which of the following best describes Joseph? - Answer-He's a building-owner salesperson Springfield broker, Sam Hovis, has s...

Abandonment - Answer-the relinquishment of all rights and title to a property with no intention of reclaiming ownership Abutting Owner - Answer-An owner whose land touches a highway or other public place. Acceleration Clause - Answer-A clause in a mortgage or installment contract stating that upon default of payment due, immediate and full payment of the balance of the obligation becomes due and payable Access Right - Answer-The right of property owner to have ingress and egress to and from h...

multiperil policies - Answer-Insurance policies that offer protection from a range of potential perils, such as those of a fire, hazard, public liability, and casualty risk management - Answer-Evaluation and selection of appropriate courses of action to minimize legal liability; also the selection of appropriate insurance coverage tenant improvements - Answer-Alterations to the interior of a building to meet the functional demands of the tenant. life-cycle costing - Answer-In property m...

Pennsylvania Real Estate Questions and Answers 2023 multiperil policies Insurance policies that offer protection from a range of potential perils, such as those of a fire, hazard, public liability, and casualty risk management Evaluation and selection of appropriate courses of action to minimize legal liability; also the selection of appropriate insurance coverage tenant improvements Alterations to the interior of a building to meet the functional demands of the tenant. ...

Harrisburg resident Joseph Bell has worked full-time for Larry Keen, who is the builder-owner of dozens of homes just outside of Harrisburg. Joseph is Larry's "right-hand man," and Larry has given him permission and the authority to take on many of Larry's tasks. Joseph routinely lists homes for sale, as well as actually selling the real estate on Larry's behalf, which of the following best describes Joseph? - He's a building-owner salesperson Springfield broker, Sam Hovis, has surpri...