Habendum clause - Study guides, Class notes & Summaries

Colibri Practice Test question and answers rated A+ 2023 already passed3. In real estate, which of the following is correct about the term "title?" - correct answer Taxes and insurance are often prepaid at closing to establish the escrow account. On which page of the Closing Disclosure form will the buyer see an accounting of the escrow account set up? - correct answer Page two, under other costs On page two of the form, other costs are itemized for buyers and sellers. Taxes, prepaids, ...

ASREB National Test A-3 Questions and Answers Already Passed A buyer sees a worn path across the property he is interested in buying. The buyer should be concerned about: Easement in gross Easement by prescription Condemnation Police Power Easement by prescription A chronological summary of title is called Deed report Abstract of title ATLA policy Title insurance report Abstract of title A clause in a deed which specifies the degree of property conveyed is called: Defeasa...

At a closing Buyer Betsy and George were provided a deed to transfer the property to them from the seller. What type of deed would Buyer Betsy and George most likely receive from the seller at closing if there were no issues at all with the title of the property? - Answer- General Warranty Deed When transferring the property to Buyer Betsy and George the seller would need to sign the deed as the ______ and Buyer Betsy and George would need to sign the deed as ________? A. Grantor/Grantee ...

All of the following acts on the part of a real estate broker would constitute steering and thus be prohibited under the Fair Housing Act EXCEPT: A) directing a prospective buyer of one minority group to work only with a salesperson of the same minority group and to look at areas dominated by that minority group B) directing a member of one minority group away from properties located in areas dominated by other races C) referring a member of one minority group to properties located only i...

Colibri Practice Test/ 120+ Questions & Answers/ Terms like: Also known as the "to have and to hold" the Habendum Clause. This is the clause that describes the rights being transferred. Exceptions and reservations are included in this clause. When a cap rate used with income capitalization is high, the following relationship with sales price exists-Answer risk and cap rate are higher, the sales price is usually lower. Cap rate is likened to the risk factor when purchasing an investm...

Rockwell Exam Real Estate Classes WA Final Exam 1 Questions and Answers Already Passed A $4,500 earnest money check bounces because of insufficient funds. The first thing the broker should do is: A. notify escrow to charge this amount, plus the bounced check fee, to the buyer B. notify the borrower C. notify the principals D. write a personal check for $4,500 to cover the shortage C. notify the principals Both principals (the buyer and the seller) are parties to the escrow instr...

3. In real estate, which of the following is correct about the term "title?" Taxes and insurance are often prepaid at closing to establish the escrow account. On which page of the Closing Disclosure form will the buyer see an accounting of the escrow account set up? Page two, under other costs On page two of the form, other costs are itemized for buyers and sellers. Taxes, prepaids, and initial escrow payment at closing - usually two months' worth, are paid by the buyer and shown on pa...

A "Rule" that says an informed buyer will not pay more for one home than a comparable one is - Substitution A borrower pays off his loan. However, the lender refuses to cancel the mortgage. Which of the following clauses of a mortgage has the lender violated? - Defeasance clause (A defeasance clause states that when the loan is paid, the mortgage is void. The bank's failure to cancel the mortgage of record is a violation of this clause. The habendum clause is the "to have and to hold" ...

** Chapter 9 - Gold Coast Real Estate HomeworkWhich instrument transfers title from one individual to another? (a) Contract (b) Deed (c) Warranty (d) Covenant - correct answer (b) Deed What does the term "title" refer to in real estate? (a) Any instrument that guarantees legal rights (b) A legal instrument that transfers property from one party to another (c) Ownership (d) A piece of bond paper - correct answer (c) Ownership What is a warrant in a deed? (a...

Colibri Practice Test Questions and Answers Already Passed 3. In real estate, which of the following is correct about the term "title?" Taxes and insurance are often prepaid at closing to establish the escrow account. On which page of the Closing Disclosure form will the buyer see an accounting of the escrow account set up? Page two, under other costs On page two of the form, other costs are itemized for buyers and sellers. Taxes, prepaids, and initial escrow payment at closing - ...