Deed restrictions Study guides, Class notes & Summaries

PSI BROKER EXAM PREP EXAM REVIEW QUESTIONS AND ANSWERS, GRADED A+/ VERIFIED. A buyer has the right to buy a property at an agreed-upon price within the next six months. This is a(n) - -an option A leasehold estate that does NOT require notice to terminate is called a(n) - -an estate for years The broker and the seller both know that the foundation of the seller's house is unsafe. If they do not inform the buyer of this condition, then the contract is - -voidable A contract that has bee...

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...

Colorado Real Estate Exam Prep (2023/2024) (Certified Solutions) 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 t...

Mckissock Basic Appraisal Principles Exam Questions and Answers Latest Update 2024/2025 Graded A+. grant deed - ANSWER deed containing, or having implied by law, some but not all of the usual covenants of title Appraiser - ANSWER One who is expected to perform valuation services competently and in a manner that is independent, impartial, and objective. report - ANSWER any communication, written or oral, of an appraisal or appraisal review that is transmitted to the client or a party authori...

Syndication - ANSWER Two or more forms joining together as an entity to own real estate Estate in severalty - ANSWER Ownership by one individual Concurrent ownership - ANSWER Two or more persons share ownership with undivided interests Tenancy in common - ANSWER Co-ownership without right of survivorship to other owners Police power - ANSWER The broad right of the government to place reasonable restrictions on the use of privately held land Easement - ANSWER A right of use or enjo...

Texas Principles of Real Estate 1 (2024 / 2025) Exam | Guide with Questions and Verified Answers | 100% Correct Q: curtsey rights Answer: right a husband has to his wifes estate upon her death Q: fee simple defeasable Answer: a gift of land by a person or GRANTOR Q: Life Estate Answer: an estate in land for the duration of someones life (always a gift of land/ real estate) Q: Homestead Answer: Texas is a Homestead State. The property that you own and live in. It is a constitutional right that ca...

An undivided share of the whole, plus "survivorship" rights (restricts inheritance to heirs of the last surviving owner)• Not available in every state - joint tenancy -Mortgage-Leases-Mechanics Liens-Private Deed Restrictions. are all known as - title encumbrances -Name grantor and grantee -Dated and signed -Consideration -Words of conveyance -Delivery -Receipt of delivery - requirements of a deed -Pay for specific improvements - a new alley, new utilities to the home, new sidewal...

When developing an appraisal, you calculate the following GRMs for comparable properties: 94.3, 90.1, 95.6, 109.2, 84.5, 100.7, 99.9. What is the mean of the GRMs? (Ans- 96.3 "The process of valuing a universe of properties as of a given date using standard methodology, employing common data, and allowing for statistical testing" is the definition of (Ans- mass appraisal What is the most common type of framing currently being used in new homes? (Ans- platform frame Fannie Mae re...

Illinois Real Estate Exam Questions and Answers 100% CorrectIllinois Real Estate Exam Questions and Answers 100% CorrectIllinois Real Estate Exam Questions and Answers 100% CorrectIllinois Real Estate Exam Questions and Answers 100% Correct When private property become ownerless due to the death of the owner, the state or county government may exercise its reversionary claim to that property under the right of: - ANSWER-Escheat A developer divided 5 acres into 20 equal lots all having depth ...

Dubai RERA Broker Final Certification Exam Questions and Answers 2024 Of the following, which are NOT classified as real property? A. Fixtures B. Emblements C. Shrubs planted in the ground D. Air rights - CORRECT ANSWER-Emblements The use of the property could be changed without changing the zoning by using a: A. Restriction B. Variance C. Taking D. Buffer - CORRECT ANSWER-Variance The basic authority for zoning laws is derived from a state's: A. Powers of eminent domain B. Right...