Leasehold policy - Study guides, Class notes & Summaries

1 . Which of the following sources would be the least satisfactory for obtaining a legal description of a parcel of real property? A. Deeds B. Preliminary title reports C. Escrow instructions D. Real property tax bills - ANSWER1 . D Explanation: A real property tax bill usually identifies the property by the tax assessor's parcel number. While the bill may also include a legal description of the property, that's often an abbreviated description instead of the complete legal descriptio...

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 measuring 110 feet wide by 140 feet deep has a required setback of 30 feet in front, 2...

NEW JERSEY TITLE PRODUCER 2024 Final Exam Q & A 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-lende...

Title insurance exam questions Which of the following statements is true? A domestic company is one chartered in this country. B. a foreign company is one chartered in another country C. an alien company is one chartered in another state D. a certificate of authority is used to companies authorized to transact business in the state D Which of the following statements is not true? A. A single insurance risk can include two or more policies on the same real property. B. A single insuran...

NJ Title insurance exam questions with Correctly Answered Solutions Which of the following statements is true? A domestic company is one chartered in this country. B. a foreign company is one chartered in another country C. an alien company is one chartered in another state D. a certificate of authority is used to companies authorized to transact business in the state - CORRECT ANSWER-D Which of the following statements is not true? A. A single insurance risk can include two or more ...

An insured who owns a large business has been comparing the different types of commercial insurance policies. The insured would likely choose a Commercial Package Policy (CPP) because it will provide The option to add lines of insurance for most coverages that are needed. (It will provide the option to add lines of insurance for most coverages that are needed.) The risk manager of a midsize manufacturing company would like several specific property coverage enhancements and a seamless appr...

ASREB Test Question Review 2024 Questions and Answers 100% Pass Within the Arizona Groundwater Code all of the following rights were created EXCEPT? - Correct Answer ️️ -Subdivision grandfather right What is required to give someone the right to sign your name? - Correct Answer ️️ - Power of Attorney The buyer has an investment that has a feature of "a pass through certificate" this investment is most likely a: - Correct Answer ️️ -Ginnie Mae Security When an occupant holds...

Means having importance, relevance or consequence to a person making a decision regarding the purchase, sale or lease of real estate. - Interest in the transaction You must have a trust account for - 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: - Aggregate Limit The Wyoming Real Estate Recovery Fund - Was created to help pro...

CA Real Estate Exam 2024 Guaranteed Success A rectangular lot contained 17,550 square feet. It measured 150 feet deep. A man wanted to build a store and needed more land. He could buy one lot on each side of this lot. Each of the side lots was the same size and the same shape. Each was 150 feet deep. Each contained 6,000 square feet. If he purchased all three lots, what would be the front footage: 197; When rent is computed on the gross sales of a business occupying real property, th...

1. A standard policy of title insurance protects the purchaser for title problems relating to (page 52) A. forgery in the chain of title. B. zoning changes. C. matters not of public record. D. rights of parties in possession. - A (C and D are covered by extended coverage policies.) 2. A purchaser paid $138,000 for an investment property. He spent $24,000 on improvements, took $32,000 in depreciation and sold the property for $138,000. What is the taxable gain? (page 81) A. $0 B....