Escheat - Study guides, Class notes & Summaries

Texas Principles of Real Estate II (2024 / 2025) Exam | Questions and Verified Answers | 100% Correct Q: According to value a. Police power b. Ad valorem c. Taxation d. Escheat e. Condemnation Answer: B Q: The government retains the following rights in lands, EXCEPT: a. Eminent domain b. Allodial c. Police Power d. Taxation Answer: B Q: If a landowner sues the government in order to force it to buy his or her land, this is called: a. Reverse condemnation b. Forward condemnation c. Inverse condem...

Title Theory (Ans- lender owns, borrower has equitable title Hypothecation (Ans- pledging property as collateral for a loan without giving up possession Mortgagee (Ans- Lender Mortgagor (Ans- borrower Non Judicial foreclosure (Ans- *CO: Public trustee has power to foreclose 1.Lender complains 2. Notice given 3. trustee sells after 125 days Strict foreclosure (Ans- No sale. Full legal title given to lender, loss of equity for borrower Judicial foreclosure (Ans-...

2024 LAW AND PRACTICE VAN ED FINAL EXAM Questions and 100% Verified Answers. 1. A loan whose payments do not fully liquidate the loan and thus requires a large final payment, is known as Partially amortized loan Term loan Growing equity mortgage Graduated payment mortgage: 1. Partially amortized loan - Repays partially, the part of the loan that hasn't been repaid yet is called a balloon payment Graduated/Growing - accelerate repayment of their fixed-rate mortgage by sched- uling ...

NJ Title Insurance Producer Final Exam Set with Q&A "A" and "B" bought a house as tenants in common. If "A" 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 B retaining their original interest and the balance going to A's estate. C) B holds fee simple ownership to A's share of the property D) B holds a life estate ownership to A's share of the property - CORRECT ANSWER-B) ...

McKissock Learning - Basic Appraisal Principles Exam Questions and Answers | 100% Verified and Updated 2024 "A document or a clause in a document in which the borrower accepts responsibility for the repayment of a debt" is the definition of: A) CC&R B) bond C) mortgage note D) debt -Answer-mortgage note "The earth's surface, both land and water, and anything that is attached to it whether by the course of nature or human hands" is the definition of: A) land B) site C) water D) real p...

121 Principles of Real Estate Final Exam Review he listing is always taken in the name of the _________ and becomes the property of the ___________. A. Broker—salesperson B. Salesperson—seller C. Broker—broker D. Broker—seller - ANS C. Broker- broker A deed is used to transfer ownership of real estate. A bill of sale would be used to transfer ownership of: A. A mortgage B. Personal property C. A deed of trust D. A house and 2 acres of land - ANS B. Personal property ...

What authority originates from the U.S. Constitution and relates to protection of health and welfare of citizens at local levels? A) Situs B) Community protection power C) Escheat D) Police power - Ans D) Police power Police power - The authority of government to protect the property, life, health, and welfare of its citizens. Situs refers to prospective buyers' preference for a certain area.

All of the following are likely to contain a legal description of a parcel of real property EXCEPT a: Select one: a.Mortgage. b.Tax statement. c.Preliminary title report. d.Deed. CORRECT ANSWER Tax statement. If a person dies intestate, the estate passes to the deceased person's heirs according to the: Select one: a.Federal escheat laws. b.State's statue of descent and distribution. c.Judgment of the executor. d.Deceased person's will. CORRECT ANSWER State's statue of descen...

Indirect methods of measuring depreciation - Answer- -Sales comparison (Market Extraction) -Capitalization of income method Financing - Answer- The first adjustment in the sales comparison approach is Sales Comparison Approach - Answer- A fundamental strength in this approach is that it reflects the actions of the marketplace as well as what by buyers & sellers are actually doing doing and paying. -Consumer tastes/preferences -Consumer income -Price of related commodities -Consumer ...

ASREB National Test A-1 Questions and Answers 100% Verified The sale of personal property would include a: Answer-Bill of Sale What governmental right requires compensation to private property owners? AnswerEminent Domain If property is obtained by the state after a person dies, this is called: Answer-Escheat Transfer of real property requires a Answer-Deed