Papersbysue

In reference to Property Taxes, "basis" or "cost" is - ANSWERPurchase price of prop plus cost of improvements. How is a condominium unit owned? - ANSWERSeparate interest How are common interests in a condo owned? - ANSWEREqually in undivided interest Subdivided Land Laws refer to - ANSWERSubdivisions of 5+ parcels on 160 acres, regulated marketing & financing, and requires disclosures in public report. How long is a disclosure in public report for Subdivided Land Laws good for? -...

A property owner has an easement appurtenant on her property. One day the property is sold to another party who is opposed to the easement. Following the closing, this particular form of easement does what? - ANSWERtransfers with the owner to a new property. A property owner is precluded by deed restriction from developing a thirty foot boat dock. The limitation prompts the owner to sell to another party. The new owner takes? - ANSWERtakes title subject to the same restriction. Which of th...

Purpose of CalBRE - ANSWERThe 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 - ANSWERThe 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 license. Original Real Estate Salespe...

Land - ANSWERThe physical property and any natural objects on it - like trees and bodies of water, often referred to as a "lot', "site", or "parcel". Real estate - ANSWERgenerally refers to land with permanent manmade improvements. Real property - ANSWERrefers not only to the land and its improvements, but also the bundle of rights, powers, and privileges ("bundle of rights") that are legally connected to ownership of that land. Transferred by deed. Tangible rights - ANSWERbased...

An appraiser's definition of "Value" would be: a. present worth of all rights to future benefits arising out of ownership. b. the ability of one commodity to command other commodities in exchange. c. relationship between the thing desired and the potential purchaser. d. all of the above. - ANSWERd. all of the above. These are elements of value. Which of the following abbreviations is associated with the FHA? a. NAR b. CPM c. MIP/MMI d. MBA - ANSWERc. MIP/MMI MIP - Mortgage...

How many baseline and meridian systems in CA? - ANSWER3 A resident of Nebraska who owns property in CA dies while in Vermont. The probate procedures for this property are in? - ANSWERCA In the order in which they are to occur, the three steps of agency discosure are? - ANSWERdisclose, elect, confirm The value of a residential property is best measured by which of the following groups of characteristics? - ANSWERDemand, utility, scarcity, and transferability Collateralized loan - ANSW...

When agent Andy took a listing, he promised the seller that he would advertise the property in a magazine until it was sold. Andy told the seller he submitted the ad, but the magazine said Andy never contacted them or submitted the ad. Andy is guilty of: - ANSWERActual Fraud A fee simple estate is: - ANSWERan estate of inheritance If an appraiser is appraising a special purpose property he would probably use the: - ANSWERCost Approach The main purpose of "RESPA" (Real Estate Settlemen...

Which of the following is most vital or important in planning a subdivision: -Answer Market Analysis When rent is computed on the gross sales of a business occupying real property, the lease is correctly termed: -Answer Percentage Lease What is not an adequate method of transferring property? -Answer Executive Sale What is considered personal property? -Answer Existing Mortgage If an income property is valued at $100,000 based on an 8% capitalization rate, what would be the value of ...

What are the two types of freehold estates? - ANSWER1) an estate in fee (simple absolute) 2) a life estate. What is the most complete, largest type of estate that includes all rights associated with the estate? - ANSWERAn estate in fee simple absolute What type of estate do you own if someone grants you real property for you to own only during your lifetime? When you die, the property reverts back to original estate owner. - ANSWERa life estate The rights of tenants who rent or lease ...

Which of the following is an example of one-way communication? - ANSWER The instructor says, "Good morning everyone! Welcome to HIIT! I hope you're all ready for some serious hard work!" Which of the following are sensory receptors responsible for sensing position in body tissues and are located in muscles, tendons, ligaments, and joint capsules of the human body? - ANSWER Mechanoreceptors A participant in your class exhibits dyspnea. What is the best recommendation for this participant...