Deed restrictions Study guides, Class notes & Summaries

Private ownership of real property rights is subject to certain restrictions, known as the four powers of government. Which of the following is NOT one of the four powers of government that restrict real property rights? Correct Answer-Deed Restrictions Items that have been installed or attached to the land or building in a permanent manner are considered which of the following? Correct Answer-Real Property Which of the following is able to perform a formal appraisal of real estate? Correc...

HUD Certification Exam with complete solution 2023Deed Restrictions Legally enforceable terms that govern the use of real estate Redlining The practice of refusing to make residential loans or imposing more onerous terms on any loans made because of the predominant race, color, national origin, religion, sex, disability, or familial status of the area's residents. Civil Rights Act of 1968 Following the assassination of Dr. Martin Luther King Jr., Congress passed what monumental...

Title Theory - lender owns, borrower has equitable title Hypothecation - pledging property as collateral for a loan without giving up possession Mortgagee - Lender Mortgagor - borrower Non Judicial foreclosure - *CO: Public trustee has power to foreclose 1.Lender complains 2. Notice given 3. trustee sells after 125 days Strict foreclosure - No sale. Full legal title given to lender, loss of equity for borrower Judicial foreclosure - done through courts in *Title Theory states Conversion...

What is the 1st offense penalty for engaging in the practice of residential building without a license? - Answer Not less than $5K and not more than $25K and/or 1 year What is the penalty for engaging in the practice of residential building, resulting in a death? - Answer Not less than $5K and not more than $50K and/or 4 years On your individual builder's license application, what should you write as your "business address"? - Answer Your personal address What is the cost of the indi...

Deed Restrictions - Correct answer-Legally enforceable terms that govern the use of real estate Redlining - Correct answer-The practice of refusing to make residential loans or imposing more onerous terms on any loans made because of the predominant race, color, national origin, religion, sex, disability, or familial status of the area's residents. Civil Rights Act of 1968 - Correct answer-Following the assassination of Dr. Martin Luther King Jr., Congress passed what monumental piece of ...

Title Theory (Ans- lender owns, borrower has equitable title Hypothecation (Ans- pledging property as collateral for a loan without giving up possession Mortgagee (Ans- Lender Mortgagor (Ans- borrower Non Judicial foreclosure (Ans- *CO: Public trustee has power to foreclose 1.Lender complains 2. Notice given 3. trustee sells after 125 days Strict foreclosure (Ans- No sale. Full legal title given to lender, loss of equity for borrower Judicial foreclosure (Ans-...

The power of a given commodity to satisfy a need or want is called __________________. - Answer-Utility The development of a vacant land area is _____________ the highest and best use of the land. - Answer-Not Always The Consistent-Use Theory says the _______________ must all be valued considering the same highest and best use of the property - Answer-Land and the Buildings ________________ involves subdividing the larger market into a workable study area. - Answer-Market Identification...

COLORADO REAL ESTATE EXAM PREP EXAM REVIEW QUESTIONS AND ANSWERS. VERIFIED. Title Theory - -lender owns, borrower has equitable title Hypothecation - -pledging property as collateral for a loan without giving up possession Mortgagee - -Lender Mortgagor - -borrower Non Judicial foreclosure - -*CO: Public trustee has power to foreclose 1.Lender complains 2. Notice given 3. trustee sells after 125 days Strict foreclosure - -No sale. Full legal title given to lender, loss of equity for b...

Principle meridian - Answer-The north-south lines separating townships 5 ways to acquire property - Answer-Occupancy Accession Transfer Will Succession Escrow agent - Answer-any person engaged in the business of receiving escrows for deposit or delivery Metes and bounds - Answer-A method of land description which involves identifying distances and directions and makes use of both the physical boundaries and measurements of the land. Occupancy - Answer-Openly and hostile for more than 5 ...

Residential Market Analysis and Highest & Best Use Questions and Answers Already Passed The power of a given commodity to satisfy a need or want is called __________________. Utility The development of a vacant land area is _____________ the highest and best use of the land. Not Always The Consistent-Use Theory says the _______________ must all be valued considering the same highest and best use of the property Land and the Buildings ________________ involves subdividing the l...