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Modern Real Estate Test answers
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Modern Real Estate Test answers
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Modern RealEstate Test
, A.
1. walk-throu
gh A codification of commercial law, adopted in
most states, attempts to make uniform all
laws relating to commercial transactions,
2. tax-deferred financing statement must be recorded, Article
exchange 6 regulates bulk transfers the sale of a
business as a whole.
3. Tax B.
lien
exaggerated comments or opinions; "This
house has the best view in town!"
4. negotiable
instrument C.
a test that measures the soil's ability to
5. exclusive-agen
absorb and drain water; usually paid for by
cy listing
the buyer.
6. Subrogation D.
Clause One broker is specifically authorized to act as
the exclusive agent of the principal; broker
7. open-end receives a commission if any broker is
mortgage procuring cause; seller can sell w/o
obligation.
8. soil suitability E.
test
an IRS sanctioned method for real estate
investors to defer taxation of capital gains by
9. when a lease making a property exchange rather than by
is sublet, the selling the investment property
original tenant
retains primary F.
liability for
sandwich lease
paying the
rent; this G.
interest in the
real estate is Any rights the insured had to sue the person
known as who caused the damage are assigned to the
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