Exam (elaborations)
Leasing agent Exam/130 Questions with Solutions
- Institution
- Leasing Agent Exam/130 Questions With Solutions
Leasing agent Exam/130 Questions with Solutions
[Show more]
Content preview
Leasing agent Exam/130 Questions withSolutions
Voidable Contract - -A contract that seems to be valid on the surface but
may be rejected or disaffirmed by one or both parties. Ex:17 year old leasing
an apartment.lessor can deny leasing to 17 year old
-Voidable Contract - -A contract that seems to be valid on the surface but
may be rejected or disaffirmed by one or both parties. Ex:17 year old leasing
an apartment.lessor can deny leasing to 17 year old
-Tenancy in common - -Co-ownership in which each owner holds an
undivided fractional interest in real property like sole owner
-Tenancy in common - -Co-ownership in which each owner holds an
undivided fractional interest in real property like sole owner
-Supply and demand - -Appraisal principle of Real property subject to
influences of marketplace
-Trade Fixture - -Article installed by tenant under lease and removable by
tenant before lease expires
-Unilateral contract - -One sided contract wherein one party makes promise
to induce second party to do something.
-Land - -Earths surface to center of earth and airspace above the land
-Real estate - -
-Real property - -Real estate plus bundle of legal rights
-Improvement - -Artificial addition to land such as a building or fence
-Bundle of legal rights - -Possession, control, enjoyment, exclusion( others
can be excluded from using or entering the property) disposition(title holder
can sell, rent or transfer ownership or use of the property at will)
-Real Estate Settlement Procedures Act - RESPA - -
-Real Estate Settlement Procedures Act - - -RESPA
-Voidable Contract - -illegitimate and unenforceable from the moment it is
created.
, -Appraisal - -Estimating property's market value based on professional
judgment
-Property manager - -Person or company hired to maintain and manage
property for owner
-Subdivision - -Splitting a single property into smaller parcels (bundels)
-Development - -Improvements to land (onsite ex:roads,new buildings or
offsite:water lines, or storm sewers.
-Residential - -Single family or multi family housing
-Commercial - -Business property, including office space, shopping centers,
stores, theaters, hotels, and parking facilities
-Industrial - -Warehouses, factories, land in industrial districts, and power
plants
-Agricultural - -farms, timberland, ranches, and orchards
-Speacial purpose - -Churches,schools,cemeteries, government held land
-Sales market - -Involves transfer of title and ownership rights
-Rental market - -Space is temporarily leased
-Supply and demand - -Determine how prices for goods and services are
set.
-Uniqueness - -Parcels of land are never the same.
-Immobility - -Property cannot be relocated to satisfy demand where supply
is low
-What affects supply and demand? - -Labor force,construction,material
costs, government controls, and financial policies.
-Labor force,construction,material costs, government controls, and financial
policies. - -What affects supply and demand?
-The federal reserve board keeps - -Rates that keep Market moving without
inflation
-Inflation - -increase in prices and fall in purchasing value of money.
The benefits of buying summaries with Stuvia:
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
You can quickly pay through credit card for the summaries. There is no membership needed.
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 Victorious23. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for £8.52. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
75323 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy revision notes and other study material for 14 years now