Real estate law exam 2 - Study guides, Class notes & Summaries

Real Estate Law Exam 2 Cowhen is does the servient estate have to repair damages to an easement - ANSWER If they damage the right of way easement they must repair it easement may not hinder servient estate by.... - ANSWER making it impossible to get to both sides of his property Reyna C Ayco. Case with the cities powerstation on top of Reyna's building. Little girl gets electrocuted.... who is liable - ANSWER Court said city is liable and the appt aompex is not liable at all Easements ...

Real Estate Law Exam 2 Correct QuestionLiens - ANSWER - Claims against property to enforce payment - Liens are always encumbrances - Encumbrances aren't always liens - Liens attach to property once recorded, run with the land Types of Liens - ANSWER - Voluntary - Involuntary - Statutory - Equitable Voluntary Lien - ANSWER -Intentionally by owner (mortgage) Involuntary Lien - ANSWER -Not by action of owner -(statutory or equitable) Statutory Lien - ANSWER -Pungent to statute, ...

when is does the servient estate have to repair damages to an easement - ANSWER If they damage the right of way easement they must repair it easement may not hinder servient estate by.... - ANSWER making it impossible to get to both sides of his property Reyna C Ayco. Case with the cities powerstation on top of Reyna's building. Little girl gets electrocuted.... who is liable - ANSWER Court said city is liable and the appt aompex is not liable at all Easements can be terminated in 12 w...

Do you need a real estate license to sell a mobile home on a rented space? - correct answer -No! Does the real estate agent with a lapsed license need to have an active license when lease-optioning personally-owned real estate? - correct answer -No - but they must do all other duties as if they WERE being supervised, IE keep finacial records, hold funds in neutral escrow, etc. Which situation requires a property manager to comply with license law and administrative rules? rental or lease-o...

Liens - ANSWER - Claims against property to enforce payment - Liens are always encumbrances - Encumbrances aren't always liens - Liens attach to property once recorded, run with the land Types of Liens - ANSWER - Voluntary - Involuntary - Statutory - Equitable Voluntary Lien - ANSWER -Intentionally by owner (mortgage) Involuntary Lien - ANSWER -Not by action of owner -(statutory or equitable) Statutory Lien - ANSWER -Pungent to statute, exists without any action by the proper...

15 days - correct answerAREC must give __?____ days notice of the hearing? 30 days - correct answerHow many days does AREC have to give before their decision is stated? 30 days - correct answerHow many days does the licensee have to decide if they will accept the decision of AREC or appeal it? conversion - correct answerspending earnest money = theft misuse of trust accounts - correct answerWhat is the #1 violation that would cause a license to be revoked or suspended? detailed cl...

Texas Auctioneer License Part 1 Exam With Verified Solutions 2023/2024. Does an auc*oneer need a federal firearms license? Yes AND No; if estate sale then no, consignment sale then yes If an auc*oneer sales a firearm away from their business loca*on, how do they transfer to buyer? It must be returned to their business loca*on before transferring. Who determines the auc*oneers fee in federal bankruptcy court? The court sets the fee. Who must obtain a firearms license? Persons in the busi...

312. Florida has established three authorized brokerage relationships. Unless otherwise established by agreement, what is the broker's relationship with the public? a. Nonrepresentation b. Single agency c. Dual agency d. Transaction brokerage - Answer- D. Transaction brokerage 242. A broker has been found guilty of mail fraud by a court and sent to jail. The broker's license will: a. Automatically be revoked b. Automatically be suspended c. Probably be revoked because of the con...

15 days - correct answerAREC must give __?____ days notice of the hearing? 30 days - correct answerHow many days does AREC have to give before their decision is stated? 30 days - correct answerFollowing a hearing, How many days does the licensee have to decide if they will accept the decision of AREC or appeal it? Estimated closing statement - correct answerNet sheet--must be provided to the principal the licensee represents/assists with each offer or counteroffer Immediately - corre...

PA Exam 3 with 100% Correct Answers 2023 Which of the following are NOT grounds in Pennsylvania for revoking a broker's license? A Being convicted of a felony B Agreeing with the seller to accept a commission that is more than the standard rate C Depositing an earnest money check into the broker's personal account D Advertising as a member of the Pennsylvania Association of Real Estate Professionals when the broker is not really a member - Correct Answer-B It is perfectly legal to agr...