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Colorado Real Estate Exam Prep Questions With 100% Correct Answers!!
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Colorado Real Estate Exam Prep Questions With 100% Correct Answers!!
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Name: Score:140 Multiple choice questions
Term 1 of 140
plottage
exaggeration
legal as long as not lying or fraudulent
amount that value is increased through successful assemblage
amount of money needed to reconstruct improvement plus the value of the land
amount of money needed to reconstruct improvement plus the value of the land
Term 2 of 140
general warranty deed
greatest protection to buyer including 6 covenants
greatest protection to buyer including 5 covenants
greatest protection to buyer including 2 covenants
period of time after tax sale to redeem property by paying delinquent taxes
Term 3 of 140
intestate
trustee back to trustor
created by law for dower, curtesy, or homestead giving 1/2 or 1/3 for their lifetime even if
willed to others
to die without will and testament
to die having left a will and testament
,Term 4 of 140
Judicial foreclosure
done through courts in *Title Theory states
pmt by terms taxes insurance Good repair
improvements cost more than max value of home
owners right to retain possession after present possession is terminated.
Term 5 of 140
treble damages
tax benefits of partnership but limited liability of a corporation with flexible management
structures
enticing homeowners to sell based on perspective entry of a different race
individual who has suffered a loss due to Sherman Anti-trust Law violation may sue for 3x
damages
period of time after tax sale to redeem property by paying delinquent taxes
Term 6 of 140
brokerage
payments made at the end of a period
to die having left a will and testament
private restrictions against use of land that run with the land
the business of bringing parties together
,Term 7 of 140
promissory note
secured by specific property
EX. vendors lien, mechanics lien, mortgage, real estate tax
highest interest in real estate that lasts life/forever and may be passed down
no defects
not dependent on doubtful questions
will not expose purchaser to litigation
able to sell/mortage
contract between borrower and lender
details terms, pmt, interest, maturity date
negotiable instrument- can be sold
Term 8 of 140
township tiers
1 mi wide strips running east and west parallel to base lines
6 mi wide strips running east and west parallel to base lines
5 mi wide strips running east and west parallel to base lines
30 mi wide strips running east and west parallel to base lines
Definition 9 of 140
secured by specific property
EX. vendors lien, mechanics lien, mortgage, real estate tax
general lien
specific lien
encumbrance
lis pendens
, Definition 10 of 140
person who acquired form will of another
mortgagor
intestate
testate
testator
Definition 11 of 140
process of acquiring private property for public use with just compensation through judicial
proceedings
encumbrance
escheat
adverse possession
condemnation
Term 12 of 140
Tennancy at Sufference
Police power
eminent domain
taxation
escheat
tenant has remained past lease terms
can be evicted
max income on a property including all sources
legal presumption that information can be obtained through due diligence
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