Reversionary interest - Study guides, Class notes & Summaries

Superior Real Estate School Exam with correct Answers All of the following are physical characteristics of land except: A. Indestructibility B. Uniqueness C. Immobility D. Scarcity -Answer-D. Scarcity Under the doctrine of specific performance, the party harmed by breach of a real estate contract can ask a judge to force the breaching party to carry out the terms of the contract rather than order the breaching party to pay monetary damages. Which physical characteristic of land is the b...

Rockwell Exam Real Estate Classes WA Final Exam 1 A buyer purchases a rental home that is fully furnished. The document used to transfer title to the furniture is: a. quitclaim deed b. bill of sale c. special warranty deed d. general warranty deed - answerb. bill of sale Deeds transfer title to real estate, a bill of sale is generally needed to transfer title to personal property. Ben receives a life estate in a property, with his nephew Will designated as the remainderman. When Ben d...

Georgia Real Estate Exam Already Rated A Deed Document used to transfer title. Title Land+ deed, (who are the owners and what are their rights?) Real Estate Land+appurtenances (right or improvement attached to the land) Two types of characteristics of land: Physical & economic What are the physical characteristics of land? Immovable, indestructible,unique(non-homogenous) What are the economic characteristics of land? Scarcity, improvable, permanence of investment; situs Situs Prope...

covenants, conditions, and restrictions (CC&Rs) may limit all of the following except? 1. Length of time a garage door may be left open 2. The type and amount of owner Mortgages 3. The maximum height of new home construction 4. Types of pet allowed correct answers 2. The type and amount of owner mortgages Which of the following would be considered a fixture? 1. A car in the garage 2. Keys to the front door 3. Table decoration 4. Painting hanging on a wall correct answers 2. Keys to the front ...

Rockwell Exam Real Estate Classes WA Final Exam 1 Questions and Answers 100% Correct A buyer purchases a rental home that is fully furnished. The document used to transfer title to the furniture is: a. quitclaim deed b. bill of sale c. special warranty deed d. general warranty deed b. bill of sale Deeds transfer title to real estate, a bill of sale is generally needed to transfer title to personal property. Ben receives a life estate in a property, with his nephew Will designated...

A brother and sister bought a commercial building and took title as joint tenants with right of survivorship. The brother died. The sister now owns the building: A. as a joint tenant with right of survivorship with her brother's heirs B. in severalty C. as a tenant in common with her brother's heirs D. as a life tenant with her brother's heirs having remainder interests - Answer-B. in severalty A building is valued at $215,000 and contains four apartments that rent for $470 each per mon...

Rockwell Exam Real Estate Classes WA Final Exam 1 Questions and Answers 100% Correct A buyer purchases a rental home that is fully furnished. The document used to transfer title to the furniture is: a. quitclaim deed b. bill of sale c. special warranty deed d. general warranty deed b. bill of sale Deeds transfer title to real estate, a bill of sale is generally needed to transfer title to personal property. Ben receives a life estate in a property, with his nephew Will designated...

All of the following are associated with a 1031 tax exchange except 1. Like kind 2. Boot 3. Qualified intermediary 4. The elimination capital gains taxes - ️️4 On March 7 a buyer and a seller execute a contract for the purchase of the sellers property. Closing is set for June 10. On April 15 the property is struck by lightning and destroyed by the resulting fire. If the uniform vendor and purchase or risk act has been adopted by the state in which the property is located, which party...

The interaction of buyers and sellers who trade long-term or intermediate-term money instruments" is the definition of the _____________ market. market study - correct answer-An analysis of the market conditions of supply, demand, and pricing for a specific property type in a specific area" is the definition of market - correct answer-A gathering of people for the buying and selling of things" is the definition of real estate - correct answer-Which of the following types of investmen...

GA MLS midterm review Exam Study Guide With Verified Solutions. Conditions of terminating a contract - answerREEP SAD -Revocation (client) or Renunciation (agent) -Expiration -Extinction -Performance (BEST WAY TO TERMINATE CONTRACT!!) -Supervening Illegality (eminent domain) -Agreement -Death Bundle of Legal rights - answerOwnership rights to real property DEEP-C disposition enjoyment exclusion Possession control Economic Characteristics of Real Estate - answerSLIP: Scarcity, ...