100% satisfaction guarantee Immediately available after payment Both online and in PDF No strings attached
logo-home
Previously searched by you
Previously searched by you
logo
Real Estate - The CE Shop exams questions and answers. $12.49   Add to cart
Quickly navigate to
Preview
  2.  
  3. CE Shop
  4.  
  5. CE Shop

Exam (elaborations)

Real Estate - The CE Shop exams questions and answers.
 8 views  0 purchase
  • Course
  • CE Shop
  • Institution
  • CE Shop

Real Estate - The CE Shop exams questions and answers. Real Estate - The CE Shop exams questions and answers. Real Estate - The CE Shop exams questions and answers. Real Estate - The CE Shop exams questions and answers. Real Estate - The CE Shop exams questions and answers.

Preview 4 out of 159  pages

Document information

  • August 24, 2024
  • 159
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

Subjects

  • real estate the ce shop exams questions and answ

Written for

  • CE Shop
  • CE Shop

Seller

avatar-seller
Wisdoms

Reviews received

Content preview

Real Estate - The CE Shop exams
questions and answers




1031 .tax-deferred .exchange
"Section .1031 .of .the .Internal .Revenue .Code .allows .the .owner .of .real .property .to .sell .that .p
roperty .and .then .reinvest .the .proceeds .in .a ."like-
kind" .property .and .defer .paying .any .capital .gains .taxes.

Ex. .Real .estate .investors .can .take .advantage .of .the .1031 .tax-
deferred .exchange .to .defer .capital .gains .taxes .when .selling .a .property .provided .the .money .is .rolled
.into .another .""""like"""" .purchase




"

abutting "Land .sharing .a .common .border

Ex. .Many .neighbors .find .that .fences .make .abutting .properties .more .tolerable.



"

acceleration .clause "Allows .a .lender .to .demand .immediate .and .full .payment .of .all .debt .owed .if .
a .buyer .defaults

Ex. .When .Wendy .stopped .making .home .loan .payments, .her .lender .told .her .she .must .pay .off .her .en
tire .balance .or .risk .foreclosure.



"

accession "The .addition .of .value .to .property .through .labor .or .the .addition .of .new .materials, .in
cluding .an .increase .in .land .through .natural .processes

,Ex. .Jonathan's .property .borders .a .bay. .The .bay .receded, .and .Jonathan .gained .an .extra .10 .feet .of .pr
operty .to .his .land .through .accession.



"

accessory .use "An .incidental .or .subordinate .use .to .the .primary .use .of .the .property

Ex. .Andy's .military .bunker .in .his .back .yard .constituted .an .accessory .use .of .the .property.



"

accounting "One .of .the .fiduciary .duties, .accounting .means .an .agent .is .accountable .for .any .fund
s .or .properties .entrusted .to .the .agent. .This .is .a .duty .that .survives .termination .of .an .agency .agreem
ent.

Ex. .Cameron .accepted .an .earnest .money .deposit .from .his .buyer. .His .duty .of .accounting .means .that
.he .must .safeguard .the .funds .and .handle .them .according .to .the .agreement .with .his .client .and .the .
policies .of .his .firm.



"

accretion "Land .build .up .over .water .by .sand, .silt, .or .gravel

Ex. .Jillian's .property .grew .through .accretion .when .a .landslide .wiped .out .an .adjacent .creek.



"

accrued .items "Expenses .that .are .accruing .but .are .not .yet .payable .(e.g., .property .taxes)

Ex. .At .closing, .accrued .items .must .be .accounted .for .on .the .settlement .statement. .If .the .seller .has .a
ccrued .expenses .not .yet .payable, .the .amount .accrued .will .be .a .seller .debit .and .buyer .credit.



"

acknowledgment "A .requirement .for .deed .transfer; .a .public .official .must .acknowledge .the .gra
ntor's .signature

Ex. .Gary .purchased .a .duplex. .The .grantor .signed .the .deed; .a .notary .public .acknowledged .his .signatu
re.

,"

acre "43,560 .square .feet

Ex. .The .Jones .farmhouse .was .on .10 .acres. .Their .parcel .had .435,600 .square .feet.



"

active .fraud "Intentional .misstatement .of .a .material .fact

Ex. .""Sure, .the .foundation .is .perfectly .safe!"" .Lisa .said, .even .though .she .knew .full .well .that .there .w
as .a .crack .the .size .if .Toledo .in .it.



"

act .of .waste "Abuse .of .a .property .by .a .person .who .holds .possession .through .a .life .estate

Ex. .When .Minerva .inherited .the .historic .mansion .and .turned .it .into .an .illegal .video .gaming .parlor, .t
his .was .an .act .of .waste .that .caused .her .to .lose .title .to .the .property.



"

actual .notice "Express .notice .given .directly .to .a .person

Ex. .Karen .told .her .neighbors .she .would .be .moving; .this .was .actual .notice.



"

addendum "An .addition .to .a .real .estate .contract .that's .added .before .contract .acceptance

Ex. .Steve .decided .to .ask .for .the .washer .and .dryer .after .all, .so .he .asked .his .broker .to .write .up .an .a
ddendum .to .the .sales .contract.



"

adjustable .rate .mortgage .(ARM)
"A .mortgage .with .a .rate .that .adjusts .based .on .changes .in .a .market .index

, Ex. .Caleb .had .a .5/1 .ARM. .His .loan .had .a .fixed .interest .rate .for .the .first .five .years, .and .after .5 .years
, .it .could .change .annually .depending .changes .to .the .market .index.



"

adjusted .basis "The .final .basis .for .taxing .purposes .computed .by .taking .acquisition .costs .plus .capital
.improvements .and .subtracting .depreciation .taken


Ex. .When .Mark .computed .the .adjusted .basis .in .his .property, .he .had .to .subtract .
$10,000 .in .depreciation .he .had .taken .over .the .years.



"

adjustment "The .dollar .value .or .percentage .added .to .or .subtracted .from .the .sales .price .of .a .co
mparable .to .arrive .at .an .indicated .value .for .the .subject

Ex. .Whether .the .adjustment .is .made .for .a ."good" .or .a ."bad" .feature, .it .is .made .to .the .comparable,
.not .to .the .subject.




"

adjustment .date "The .date .on .which .the .interest .rate .changes .on .an .adjustable .rate .mortgag
e.

Ex. .Karey .made .sure .to .refinance .before .her .adjustment .rate. .Rates .had .dropped .and .she .could .get
.a .better .rate .than .the .one .she'd .face .once .her .ARM .adjusted.




"

adjustment .(loan) "A .debit .or .credit .at .closing .to .coincide .with .appropriate .closing .costs

Ex. .When .the .document .preparation .fees .were .more .than .anticipated, .both .sides .received .an .adjust
ment .at .closing.



"

Administrative .Procedure .Act "Helps .to .ensure .that .no .governmental .entity .acts .without .an .opport
unity .for .public .input .by .requiring .public .disclosure .and .discourse .before .rulemaking

The benefits of buying summaries with Stuvia:

Guaranteed quality through customer reviews

Guaranteed quality through customer reviews

Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.

Quick and easy check-out

Quick and easy check-out

You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.

Focus on what matters

Focus on what matters

Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!

Frequently asked questions

What do I get when I buy this document?

You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.

Satisfaction guarantee: how does it work?

Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.

Who am I buying these notes from?

Stuvia is a marketplace, so you are not buying this document from us, but from seller Wisdoms. Stuvia facilitates payment to the seller.

Will I be stuck with a subscription?

No, you only buy these notes for $12.49. You're not tied to anything after your purchase.

Can Stuvia be trusted?

4.6 stars on Google & Trustpilot (+1000 reviews)

79223 documents were sold in the last 30 days

Founded in 2010, the go-to place to buy study notes for 14 years now

Start selling
$12.49
  • (0)
  Add to cart