Life estates - Study guides, Class notes & Summaries
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Mississippi Real Estate Exam| 195 Questions With Complete Answers!!
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Fee Simple Estate - ANSWER An estate only limited by government; no other restrictions of ownership 
 
Fee Simple Estate - ANSWER also called indefeasible fee estate 
 
Freehold estates - ANSWER All fee estates are 
 
Qualified fee estate - ANSWER A fee estate that is subject to limitations other than gov't 
 
Qualified Fee estate - ANSWER also called fee simple estate 
 
Fee Simple Determinable - ANSWER Fee estate which will terminate if a condition stated in the deed comes into being or is te...
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WV Real Estate Exam Questions and Answers Already Passed
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WV Real Estate Exam Questions and 
 
Answers Already Passed 
 
What are the types of fee simple estates? Fee Simple Absolute 
Fee Simple Defeasable 
 
Fee Simple Absolute The best type of ownership you can get. 
 
Fee Simple Defeasible Subject to occurrences or non occurrences of specified time. 
 
Two types of fee simple defeasible? Fee simple determinable 
2 Condition subsequent 
 
Fee Simple Defeasible Will include: so long as, while, during and includes the term reverter. 
 
Reverter Former ...
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Xinnix SOAR Final Questions With Verified Answers Graded A+
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Xinnix SOAR Final Questions With Verified Answers Graded A+ 
FNMA and FHLMC are what type of loan? 
conforming 
 
 
the main purpose of the Consumer financial protection bureau (CFPB) is to help consumers understand the terms of their agreements with financial companies 
true 
 
 
conventional loans are not insured by the federal government 
true 
 
 
Agency loans include FHA and VA loans 
true 
 
 
the proceeds of a loan for cash out refinance may be used by the borrower to insure a new pool 
t...
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Basic Appraisal Procedures Exam |Expect Questions and Answers (2024 / 2025) With Verified Answers
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Basic Appraisal Procedures Exam |Expect Questions and 
Answers (2024 / 2025) With Verified Answers 
8 Steps in the Valuation Process 1) Define the problem 
2) Determine scope of work 
3) Gather, record and verify the data 
4) Determine the highest and best use 
5) Estimate the land value 
6) Estimate value by each of the 3 approaches (if applicable) 
7) Reconcile the estimated values into the final opinion of value 
8) Report the final opinion of value 
Defining the Problem: 6 Sub-steps within -...
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CA DRE Salesperson Exam with complete solutions
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What are the two types of freehold estates? - ANSWER-1) an estate in fee (simple absolute) 
2) a life estate. 
 
What is the most complete, largest type of estate that includes all rights associated with the estate? - ANSWER-An estate in fee simple absolute 
 
What type of estate do you own if someone grants you real property for you to own only during your lifetime? When you die, the property reverts back to original estate owner. - ANSWER-a life estate 
 
The rights of tenants who rent or lea...
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Principles of Real Estate 1 – Champions Latest Update 100% Pass
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Principles of Real Estate 1 – Champions 
 
Latest Update 100% Pass 
 
Leasehold Estates possession and use of property without ownership 
 
Estate for years (tenancy for years) any lease with a specific starting and ending date. 
Survives the death or sale of the property 
 
Periodic Tenancy/periodic estate lease that automatically renews itself for like periods. 
example month to month. Requires notice to terminate 
 
Estate at Will Very loose agreement, terminates on death or sale of the pro...
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Georgia Real Estate Exam Already Rated A
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Georgia Real Estate Exam Already Rated A 
Deed Document used to transfer title. 
Title Land+ deed, (who are the owners and what are their rights?) 
Real Estate Land+appurtenances (right or improvement attached to the land) 
Two types of characteristics of land: Physical & economic 
What are the physical characteristics of land? Immovable, indestructible,unique(non-homogenous) 
What are the economic characteristics of land? Scarcity, improvable, permanence of investment; situs 
Situs Prope...
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Mississippi Real Estate Exam| 195 Questions| Complete Answers.
- Exam (elaborations) • 12 pages • 2024
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Fee Simple Estate - ANSWER An estate only limited by government; no other restrictions of ownership 
 
Fee Simple Estate - ANSWER also called indefeasible fee estate 
 
Freehold estates - ANSWER All fee estates are 
 
Qualified fee estate - ANSWER A fee estate that is subject to limitations other than gov't 
 
Qualified Fee estate - ANSWER also called fee simple estate 
 
Fee Simple Determinable - ANSWER Fee estate which will terminate if a condition stated in the deed comes into being or is te...
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REE 3433 Exam 2 Questions with Correct Answers
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REE 3433 Exam 2 Questions with Correct Answers 
A life tenant who makes improvements on leased property which are considered fixtures generally (under common law) has a right to remove them within a reasonable period of time after terminating the life estate. - Answer true 
 
Which of the following has "double" taxation? - Answer a "C" corporation. 
 
A real estate contract can successfully be avoided when: 
a. there is a mutual mistake by seller and buyer. 
 court rules that the seller w...
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CA DRE Salesperson Exam Questions With 100% Verified Answers.
- Exam (elaborations) • 10 pages • 2024
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CA DRE Salesperson Exam Questions With 
100% Verified Answers. 
What are the two types of freehold estates? - answer1) an estate in fee (simple absolute) 
2) a life estate. 
What is the most complete, largest type of estate that includes all rights associated with the 
estate? - answerAn estate in fee simple absolute 
What type of estate do you own if someone grants you real property for you to own only during 
your lifetime? When you die, the property reverts back to original estate owner. - an...
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