New jersey real estate - Study guides, Class notes & Summaries

Which of the following is a permitted free offering? oA. A complimentary home warranty with every listing B. A coupon for a discounted commission on listing services C. A free dinner for attendees at a homebuyers' evening seminar D. Free use of a local moving van for all listings - C. A Free dinner for attendees at a homebuyers' evening seminar Depreciation usually applies to . A. the building only. B. the land only. C. both the land and the building. D. income obtained from the build...

New Jersey's real estate license law is known as A) The Statue of Frauds B) Title VII C) Title 45 D) The Law of Agency - C - Title 45 An unlicensed New Jersey Resident may A) Help a neighbor sell his or her house in return for a used car B) Negotiate the purchase of vacant land on behalf of a developer in return for one lot C) Draw up a binding lease for a new tenant in a property the resident owns D) Charge a fee for selling someone else's pizza business, including name, ovens, truck...

NEW JERSEY REAL ESTATE EXAM- KEY TERMS EXAM | QUESTIONS & ANSWERS (VERIFIED) | LATEST UPDATE | GRADED A+NEW JERSEY REAL ESTATE EXAM- KEY TERMS EXAM | QUESTIONS & ANSWERS (VERIFIED) | LATEST UPDATE | GRADED A+

New Jersey Real Estate Exam #2 Questions with Complete Solutions (Graded A+) 19. Ginny owns 50 acres of land with 500 feet of frontage on a desirable recreational lake. She wishes to subdivide the parcel into salable lots, but she wants to retain control over the lake frontage while allowing lot owners to have access to the lake. Which of the following types of access rights would provide the greatest protection for a prospective purchaser? A. an easement in gross B. an appurtenant eas...

1. Many states determine the order of water rights according to which users of the water hold a recorded beneficial use permit. This allocation of water rights is determined by: A. accretion. B. riparian theory. C. littoral theory. D. the doctrine of prior appropriation. - D. All terms relate to water rights, with "riparian" -- the right to use water adjacent to one's property -- being the most common in sections of the U.S. where water is abundant. However, in states where wate...

Who appoints the 8 members of the New Jersey Real Estate Commission? - Answer Governor Who makes the payments to a claimant from the Guaranty Fund? - Answer The state treasurer Agent Louis Lee is working with several people from his home town in Hong Kong. They sought him out because he speaks their native language. The Chans are anxious to purchase a house before the school year starts. Agent Lee listens to their needs and tells them, "I know exactly where you will be comfortable...

According to fair housing, which of these is not a protected class? A. muslim B. arab C. homosexual D. single mother - C. homosexual The front door key to a house is: A. chattel B. fixture C. improvement D. trade fixture - B. fixture The phrase "bundle of legal rights" is properly included in: A. the definition of real property B. a legal description C. real estate transactions D. leases for less than one year - A. the definition of real property An estate at will:

1. A real estate licensee has a buyer agency agreement. What is the seller in this situation? A. a customer B. a client C. a fiduciary D. an agent - A. There's an important distinction between client and customer. Unless there is a specific agreement to the contrary, licensees represent only one side in a transaction. In this case, it's the buyer who is the client and it's the licensee's obligation to negotiate a deal that's in that person's best interests, not the one that'...

The type of deed that warrants only that the grantor has not impaired the title during the term in which he held it is referred to as. 1. Quitclaim Deed 2. General Warranty Deed 3. Bargain and Sale Deed 4. Bargain and Sale Deed, CAG - Bargain and Sale Deed, CAG Taxes raised to pay for improvements that benefit real estate are referred to as 1. Special Assessments 2. Facilities Taxes 3. Ad Valorem Taxes 4. Luxury Rates - Special Assessments After Borrowers have indicated an intent to p...

Mark, a licensed broker, procures a ready, willing, and able buyer for his seller-principal. The seller accepts the buyer's offer in writing. Just before the schedule closing, the seller has a change of heart and refuses to sell. Mark - Answer- is entitle to collect a full commission A real estate company has entered into agency agreements with both a seller and a buyer. The buyer is interested in making an offer on the seller's property. Can this occur? - Answer- Yes, if the buyer and sell...