Encumbrance - Study guides, Class notes & Summaries

Every person who makes a false sworn statement to a Notary Public, with knowledge that the statement is false, to induce the Notary Public to perform an improper notarial act on an instrument or document affecting title to, or placing an encumbrance on, real property consisting of a single-family residence containing not more than four dwelling units is guilty of a _________. A. Infraction B. Felony C. Misdemeanor - B. Felony A commissioned Notary Public embezzled funds from their employe...

National - Real Estate Exam Practice Questions (Set One) Latest Update Graded A+ Which of the following is a lien on real estate? a. recorded easement b. recorded mortgage c. encroachment d. dead restriction b. recorded mortgage Which approach to value would MOST likely be useful to real estate brokers estimating the value of a single-family residence for sale in a subdivision? a. cost approach b. income approach c. market comparison approach d. gross rent multiplier c. ...

Encumbrance CORRECT ANSWER Any interest or right to land held by third persons which affects the title and possibly the value of the property Effects of Encumbrance CORRECT ANSWER 1. Physical condition of the property, or use of property (deed restrictions, easements, and encroachments) 2. Financial, like liens. Lien CORRECT ANSWER Charge against property, making that property security for payment of a debt Nonmonetary Encumbrances CORRECT ANSWER Deed restrictions/several types of ease...

Encumbrance correct answers Any interest or right to land held by third persons which affects the title and possibly the value of the property Effects of Encumbrance correct answers 1. Physical condition of the property, or use of property (deed restrictions, easements, and encroachments) 2. Financial, like liens. Lien correct answers Charge against property, making that property security for payment of a debt Nonmonetary Encumbrances correct answers Deed restrictions/several types of ...

North Carolina Real Estate Exam Prep Basic, Ownership Interests, Encumbrances, Property Description Exam with Correct Answers Qualified Fee - Answer-aka FEE SIMPLE DEFEASIBLE This term was on practice test and didn't recognize! (you have to qualify to keep title) Estates NOT of Inheritance - 2 categories - Answer-1. Covnentional Life Estate (Life Tenant's ownership ends at his/her death). Then reverts back to grantor or grantor's heirs. 2. Martial Life Estate (abolished in NC - N...

Which of the following would NOT be considered Real Property? 1. Mineral Rights 2. A Leasehold Estate 3. Fixtures 4. Air - correct answer 2. A Leasehold Estate The servient estate in an easement appurtenant is the property 1. owned by the landlord 2. on which the easement is placed 3. owned by the tenant 4. that benefits from the easement - correct answer 2. on which the easement is placed Which of the following statements concerning encumbrances is NOT true 1. All encumbran...

Lien - Answer a monetary encumbrance that asserts the lienholder has a creditor's claim to a specific monetary interest in the property's value. Priority of liens - Answer for payment after a voluntary or forced property sale typically goes by date of recordation from first to the most recent. Property Tax Liens - Answer Which lien is ALWAYS superior to other liens?

An easement could be created for what length of time: correct answers Any of the above (perpetuity; the lifetime of a person; a term of years) The land that is benefited by an easement is called the: correct answers Dominant tenement Land that is subject to an easement is said to be: correct answers Encumbered Mr. and Mrs. Winters hired the superb construction company to install a swimming pool on their residential premises. In the event the construction company was unpaid and it was ne...

Champions Real Estate Finance Exam (Latest 2024/ 2025 Update) 100% Correct Questions and Verified Answers| Grade A Q: All residential mortgage loan originators must register with Answer: NMLSR National Mortgage Licensing System & Registry Q: Who is responsible for affordable housing Answer: TDHCA Texas Department of Housing & Community Affairs Q: Who is applicable to all federally related mortgage loans Answer: RESPA Real Estate Settlement Procedure Act ...

MD Real Estate Salesperson Exam Review with Certified Solutions Which of the following would NOT be considered real property? 1. mineral rights 2. a leasehold estate 3. fixtures 4. air 2. a leasehold estate - a leasehold estate is a non-freehold estate involving the tenant's right to occupy the real estate during the term of the lease The servient estate in an easement appurtenant is the property 1. owned by the landlord 2. on which the easement is placed 3. owned by the...