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

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What do Datums and Benchmarks measure? - Answer- Elevation Joint Tenancy - Answer- The joint ownership of property by two or more co-owners in which each co-owner owns an undivided portion of the property. On the death of one of the joint tenants, his or her interest automatically passes to the surviving joint tenants. What is a Preliminary Report? - Answer- Issued by title insurance companies - gives buyers an overview of title history and any liens/encumbrances - it outlines what insur...

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Jerry and Simon signed a contract so that Jerry could purchase all of Simon's restaurant equipment for one price after Simon closes his restaurant next month. The contract contains a provision that states Jerry has one year from the purchase date to file a suit relative to the purchase. After the year is up, Jerry forfeits the right. What kind of contract clause is this? A. Specific time B. Statute of limitations C. Time is of the essence D. Time of performance - Statute Of Limitations ...

An action for recovery from the Kentucky Real Estate Education, Research, and Recovery Fund MUST be commenced within how many years from actual knowledge of the cause of action or the time when circumstances would reasonably have put the aggrieved party on notice of the cause of action? 2 Years The Kentucky Real Estate Commission is responsible for what? Protecting the public interest through regulations, examinations and licensing of KY real estate licensees. Broker Any person ...