Pa real estate exam - Study guides, Class notes & Summaries

The economic characteristics of land are - scarcity, location, and durability A major difference between freehold and nonfreehold estates is that all freehold estates - are of indeterminable duration An easement can be terminated by - merger of titles The land description T3N, R4W Principal Meridian refers to what method of property description? - Rectangular survey Tenants are still in their rental property even though their lease has expired. The landlord has given them written not...

PSI PA Real Estate Practice Exam Complete Questions And Answers

Which of the following describes the term "appreciation"? A. Kind words expressed to someone about something they did B. An increase in the value of property C. An item of value owned by an individual D. None of the above - Answer- B. Appreciation is the increase in the value of a property due to changes in market conditions, inflation, or other causes. When ownership of a mortgage is transferred from one company or individual to another, it is called A. an assumption B. an assig...

The economic characteristics of land are - Answer- scarcity, location, and durability A major difference between freehold and nonfreehold estates is that all freehold estates - Answer- are of indeterminable duration An easement can be terminated by - Answer- merger of titles The land description T3N, R4W Principal Meridian refers to what method of property description? - Answer- Rectangular survey Tenants are still in their rental property even though their lease has expired. The lan...

PA Real Estate Exam Prep Questions (232 Correct Answers) 2024 UpdatePA Real Estate Exam Prep Questions (232 Correct Answers) 2024 Update

2023 PA Real Estate Exam Prep Verified answers latest update

PSI PA Real Estate Exam/ 134 Qs & Ans/ . Terms like: Legal description using the government survey system are not generally used in? - Answer: the original 13 states An owner hired a construction company to build a swimming pool at a new home. The owner failed to pay the bill once the work was completed and the construction company filed a lien to obtain payment of the debt. The encumbrance created is called? - Answer: a mechanic's lien Building codes are? - Answer: ordinances that sp...

PSI PA REAL ESTATE EXAM QUESTIONS AND ANSWERS Severance - ANS the performance of turning real property into personal property What is the main difference between tenancy in common and joint tenancy is that with tenancy in common, when a co-owner dies? - ANS the undivided interest passes to his heirs A tenant rented an apartment signing a 15 month lease. After the lease expired, the tenant paid 1 month's rent and got a receipt. What kind of leasehold does this tenant have? - ANS...

PSI PA REAL ESTATE EXAM QUESTIONS AND ANSWERS 100% PASS Severance the performance of turning real property into personal property What is the main difference between tendency in common and joint tendency is that with tendency in common, when a co-owner dies? the undivided interest passes to his heirs A tenant rented an apartment signing a 15 month lease. After the lease expired, the tenant paid 1 month's rent and got a receipt. What kind of leasehold does this tenant have? Tenancy at will Al...

PSI PA Real Estate Practice Exam Questions and Answers 100% Solved The economic characteristics of land are scarcity, location, and durability A major difference between freehold and nonfreehold estates is that all freehold estates are of indeterminable duration An easement can be terminated by merger of titles The land description T3N, R4W Principal Meridian refers to what method of property description? Rectangular survey Tenants are still in their rental property even though their lease h...