Real Estate Investments / Champions Questions and Answers Already Passed

Real Estate Investments / Champions Questions and Answers Already Passed if you are holding undeveloped land, your goal as an investment is: appreciation land is referred to as _____ because it can be seen touched tangible Formaldehyde gas is: Colorless Local governments can use which of the following to enforce subdivision requirements? Police Power The time limitation on deed restrictions is typically __________ due to changes that render the original restriction irrelevant. 25-35 years Which of the following is a rating used for investment opportunities? All of these are ratings used for investment opportunities Which phase assessment defines the steps needed to clean up contaminated areas of a property? Phase III Assessment The ________, authorized in 1954, was the first program of Urban Planning Assistance Subdivision Act Which of the following are potentially responsible parties for clean-up costs of an environmental problem? The party who transported the waste The right of ___________ includes the right to sell or mortgage property and the right to determine the duration of the ownership term. Disposition from which country's laws did community property stem? Spain A ______ is a written instrument by which a grantor conveys an ownership interest in real property to a grantee Deed Which of the following would be considered a trade fixture? Dentist Chair In a lease, the landlord is referred to as the __________. Lessor The lessee in a lease agreement is also known as the ________ Tenant _____________ compensates a seller for taking a property off the market for an extended period of time Earnest Money _________ is typically stated as a monthly charge to be paid by the tenant at the beginning of each month Rent A(n) ________ is the legally designated person who would be entitled to receive a deceased person's property in absence of a will. Heir Profit realized in the sale, exchange or disposition of a capital asset is considered ___________. Capital Gain Income In determining capital gains on inherited property, the basis of value generally becomes market value as of ______________. The date of the decedent's death In terms of qualifying for low-income housing tax credits, __________ means the initial lease term extends to 6 months or more. Nontransient