Legal pur - Study guides, Class notes & Summaries

FCCM Exam Questions With Correct Answers How long after an employee leaves a position with the state can they be employed by a business that had a contract the agency employee managed at their former agency? - answer2 Years Agency employees with the power to make purchases exceeding $35k are required to file a Limited Financial Disclosure (FORM 1) by what date to the Commission on Ethics? - answerJuly 1 The Code of Ethics has standards that apply to agency employees and their families whi...

MIE 305 Final Exam Questions And Answers 100% Verified What are the "bundle of rights" associated with property ownership? - answer1) Control; 2) Possession; 3) Enjoyment; 4) Exclusion; 5) Disposition Possession - answerThe property is legally owned by whoever owns the title. Control - answerThe titled owner (freeholder) controls the use of the property. Enjoyment - answerRights-holder can enjoy the property in any legal or contractually agreed manner. Exclusion - answerOwner can ex...

homestead estate - Answer-A legal life estate, family home, protected from creditors, not ad valorem/mortgage. littoral rights - Answer-unrestricted use of navigable waters, own land adjacent to and up to mean high water mark of tides. foreshore - Answer-strip of land between high and low water mark/tides. riparian rights - Answer-unrestricted right to use water attached to land provided it does not harm owners up or down stream, non-navigable water way own halfway across/divided betwee...

The word "Ownership" means the same thing as the word A.Freehold B.Leasehold C.Possession D.Both A & C - Answer D. Both A & C The highest interest in real estate recognized by law is: A.Fee Simple Defeasible B.Legal Life Estate C.Fee Simple Absolute D.Fee Simple Determinable - Answer C.Fee Simple Absolute The highest interest in real estate recognized by law is: A.Fee Simple Defeasible B.Legal Life Estate C.Fee Simple Absolute D.Fee Simple Determinable - Answer C.Fee Simple A...

MIE 305 Final Exam Questions And Answers 100% Verified What are the "bundle of rights" associated with property ownership? - answer1) Control; 2) Possession; 3) Enjoyment; 4) Exclusion; 5) Disposition Possession - answerThe property is legally owned by whoever owns the title. Control - answerThe titled owner (freeholder) controls the use of the property. Enjoyment - answerRights-holder can enjoy the property in any legal or contractually agreed manner. Exclusion - answerOwner can ex...

Manufactured vs. modular home - Manufactured: A home that is built according to HUD construction standards. Updated term for a mobile home or house trailer. Modular: Units that are constructed in factories off-site according to state building codes. Once assembled on the home site, considered to be real property. Land - Property that includes the surface of the earth, down to the center of the earth, and upward infinitely into space. It also includes any items permanently attached to the l...

Indiana Real Estate Exam Prep Review, Verified Solution Land Surface and all natural things attached to it, subsurface and air above the surface Zoning Administration Zoning Board of Adjustment oversees rule administration and appeals Real estate land plus manmade permanent attachments Real property real estate plus bundle of rights Bundle of Rights Possess Use Transfer Exclude Encumber Physical Characteristics Immobility; indestructibilit; hetoerogeneity Immobility Land cannot m...

Words of purchase - Answer-Describe who takes the real property by grant, gift, inheritance or bequest Words of limitation - Answer-Describe the type and duration of the estate taken by the transferee FEE SIMPLE ABSOLUTE - Answer-"To Grantee and their heirs" FEE SIMPLE DETERMINABLE - Answer-"To Grantee and their heirs for so long as" or "while" or "during" or "until" (the occurrence of an event). Automotically terminates upon the happening of stated event FEE SIMPLE SUBJECT TO A C...

California Real Estate Exam All Answers Correct Purpose of CalBRE The California Bureau of Real Estate (CalBRE) protects the public through the enforcement of laws and requirements for salespersons' and brokers' real estate licenses. The California Real Estate Commissioner The California Real Estate Commissioner has the authority to investigate the actions of any person engaged in the business of a licensee in California, and has the power to deny, suspend or revoke the real estate l...

Superior School of Real Estate Exam Problem Areas Questions and Answers tenements -Answer-all of the rights and interests that go with the land hereditaments -Answer-land and all of the tenements that can be inherited appurtenance -Answer-a right interest of privilege that goes with the land (item in the bundle) accretion -Answer-a gradual process in which the boundary of riparian land is extended by natural forces reliction -Answer-the permanent receding of the water which leaves the gro...