PSI NATIONAL REAL ESTATE BUNDLED EXAMS-Questions with Correct Answers/ Verified/ 100% Pass

What's the major difference between freehold estate and leasehold estate? A. Have an ownership interest B. Terminate upon the death of the person on whose life they are based C. Are estates of inheritance D. Are estates for a fixed term -️️A. Have an ownership interest What deed provide at...

A legal description in land that includes language like "the old oak tree" or "the big rock" would be - ️️Metes and bounds As a licensee is showing a property contiguous to a lake, the licensee notices that the lake has a large amount of algae. The buyer wishes to make an offer. What shou...

Real property -️️The land and anything permanently affixed to it Fixture -️️An item of personal property that has been converted to real estate by being permanently affixed to the land or building A Fixture -️️Personal property attached to real property. It becomes "real" once annex...

Bilateral -️️What is a type of contract in which two parties are legally bound to act? Functional Obsolence -️️What is one kind of real property depreciation caused by poor design? Grantee -️️What is the name of the party who aquires the title to real property in a deed? Biennial -️...

BOOT -️️What is money or property given to make up any difference in value or equity between two properties in exchange? 1031 exchange -️️What is a tax deferred exchange of like kind property, where any additional monies are taxable to receiver? ACCELERATION CLAUSE -️️What is the cla...