Tenants improvements Study guides, Class notes & Summaries

National Real Estate Exam Practice Questions and Answers A property owner has decided to do some landscaping work on his yard. He has planted a tree surrounded by some flowering shrubs. The tree and shrubs are an example of... - Answer- improvements A property owner has a waterfront lot on a stream. He has the right to use the water from the stream. What is this right called? - Answer- riparian A tenant is aware that his lease will expire at the end of the month. He has begun to disassem...

The term "fee simple estate" refers to which of the following? A. An estate that is leased; with no percentage rents. B. An estate that is leased at a set fee. C. An estate that is not subject to any leases. D. An estate that is owned by only one person. - C. An estate that is not subject to any leases. In _______ the tenants holds a leasehold interest in the land and owns the improvements until the land lease expires. - land lease ______ can be valued as the present value of the lea...

Accession - Answer The acquisition of title by the owner of real property to those things attached to the property by others, such as tenants, trespassers, or by nature. Acre - Answer A measure of land area equal to 43560 square feet. 43560 - Answer The number of squarefeet in one acre. Active License - Answer Status of an individual who has met all qualifications to practice real estate as a broker, associate broker, or salesperson; and such license is held by a broker, rather ...

Lenders require a borrower to establish and maintain a reserve fund to ______. - ANSWER Pay any property taxes in case the borrower misses a payment Brandon recently purchased an old warehouse building. This building will serve as a hub for local deliveries of fruits and vegetables within the state. During its first week in operation, one of the delivery drivers was involved in an accident that spilled coconuts all over the road and shut down the interstate for hours. What type of risk is th...

Accession - ANSWER The acquisition of title by the owner of real property to those things attached to the property by others, such as tenants, trespassers, or by nature. Acre - ANSWER A measure of land area equal to 43560 square feet. 43560 - ANSWER The number of squarefeet in one acre. Active License - ANSWER Status of an individual who has met all qualifications to practice real estate as a broker, associate broker, or salesperson; and such license is held by a broker, rather than by ...

REE 3433 Exam 2 Questions with Correct Answers A life tenant who makes improvements on leased property which are considered fixtures generally (under common law) has a right to remove them within a reasonable period of time after terminating the life estate. - Answer true Which of the following has "double" taxation? - Answer a "C" corporation. A real estate contract can successfully be avoided when: a. there is a mutual mistake by seller and buyer. court rules that the seller w...

Scheduled Coverage refers to policy on which coverage is provided only on that property which is specifically identified or scheduled All Property refers to policy used to insure building, equipment and stock under a single limit of Insurance Tenants Improvement building improvements, alteration and betterments made at expense of or purchased by the insured to a building occupied by the insured and which are not otherwise insured, provided the insured is not actual owner of such building ...

An appraiser is comparing income from a multi-tenant office building to comparable properties, so he converts the income for each property to ______. Annual dollars per room Annual dollars per square foot Annual dollars per tenant Tenants per square foot Annual dollars per square foot Appraisers compare rents from similar properties by converting to a common unit of measurement. For commercial properties, this is typically by annual dollars per square foot. Which of the followin...

What is the money in the Recovery Trust Account used for? A) To pay an aggrieved party who has won a judgment against a licensee for damages from a real estate transaction B) To pay commission that agents were wrongfully deprived of C) For taxes for the state of Texas D) For TREC to recover the funds to keep their computer systems up to date - A) To pay an aggrieved party who has won a judgment against a licensee for damages from a real estate transaction Wesley just bought a house with...

What are the two types of freehold estates? - ANSWER-1) 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? - ANSWER-An 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. - ANSWER-a life estate The rights of tenants who rent or lea...