Deed restriction - Study guides, Class notes & Summaries

Real Estate U Test Which of the following leasehold estates is open-ended, as it does not have a termination date? - CORRECT ANSWER Estate at will Which of the following types of easements is obtained by a squatter who uses another's property without the owner's permission - CORRECT ANSWER Easement by prescription In order to obtain an easement by prescription, for how many years must the property by used by the dominant tenement - CORRECT ANSWER 10 years Which of the follo...

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...

Texas Real Estate Exam (National) Latest Update Graded A+ real property the tangible real estate and intangible rights associated with the ownership of real estate -transfers by deed or will personal property a right or interest in things of a temporary or movable nature; anything not classed as real property (chattel, personalty) -transfers by a bill of state fixture personal property that has been attached in such a way as to make it real property -"installed" often indicate...

1 OHIO REAL ESTATE EXAM REVIEW QUESTIONS AND ANSWERS, 100% ACCURATE. VERIFIED/ What type of land use does NOT comply with the zoning restriction for its location, but is permitted because it benefits the public? - -Conditional Use Conditional uses (hospitals, schools, etc.) usually do not comply with zoning limitations. loan amount - -The amount the lender is risking is the loan amount, which is: Purchase Price - Down Payment = Loan Amount. What is NOT a feature of an FHA-insured loan?...

PSI Real Estate Salesperson Exam (Latest 2023/ 2024) 100% Correct| Questions and Verified Answers| Grade A Q: Which of the following statements does NOT correctly describe a legal life estate? 1. During his or her life estate the life tenant is generally answerable to the holder of the future interest. 2. The life tenant may not commit any acts that would permanently injure the property. 3. There may be a reversionary interest. 4. There may be a remainder interest. Answer: 1. Duri...

PRINCIPLES & PRACTICES OF HAWAIIAN REAL ESTATE CHAPTER 23 QUESTIONS AND ANSWERS GOVERNMENT RESTRICTIONS ON LAND INCLUDE ALL BUT ONE OF THE FOLLOWING A. TITLE CLOSURE B. TAXATION C. EMINENT DOMAIN D. ZONING - Correct Answer ️️ -A. TITLE CLOSURE ZONING ORDINANCES USUALLY COVER SUCH MATTERS AS A. BASE LINES B. SETBACK LINES C. DEED RESTRICTIONS D. PRESCRIPTION - Correct Answer ️️ -B. SETBACK LINES THERE ARE SEVERAL WAYS IN WHICH THE USE OF LAND IS REGULATED OR CONTROLLED WHICH...

DEED - Answer The legal written document that conveys the intangible ownership rights (title) of a real estate property to another property. DEED OF TRUST - Answer A security instrument that places the deed to the property in a trust held by the lender until a mortgage is paid off, when the trustee will transfer the deed to the borrower. TRUSTEE VS TRUSTOR - Answer A trustee is an individual person given control of property in trust with a legal obligation to administer it solely for...

An appraiser recommended tearing down a $28,000 house. There was a shopping center across the street. Which of the following appraisal principles BEST describes this situation? A. deterioration B. highest and best use C. capitalization D. substitution - B. highest and best use What could guarantee no encroachments and good title? A. assumption package B. title insurance policy C. survey D. termite inspection - B. title insurance policy Which of the following statements is true of a pr...

An appraiser recommended tearing down a $28,000 house. There was a shopping center across the street. Which of the following appraisal principles BEST describes this situation? A. deterioration B. highest and best use C. capitalization D. substitution - ANSWER B. highest and best use What could guarantee no encroachments and good title? A. assumption package B. title insurance policy C. survey D. termite inspection - ANSWER B. title insurance policy Which of the following state...

National Real Estate Exam - Guide to Pearson Vue Book Latest Update Graded A+ The phrase definite duration refers to: An estate for years A lease that automatically renews itself, in the absence of notice, is: A periodic tenancy A man just sold a condo for $80,000. This gave him a 20% profit on what he paid. What did the man pay? $80,000/1.20 $66,666 A requirement of a valid deed is that the deed be: Signed by the grantor To locate buyers for other properties, a broker advert...