Is it an easement - Study guides, Revision notes & Summaries

Trec Commision Membership Correct Answers9 Members (6 brokers, 3 public) appointed by governor. They serve 6 year staggered term. Texas Real Estate Borker Lawyer Committee Correct Answers13 Members (6 brokers, 6 lawyers, 1 public) General Eligibility Requirements to be Licensed by TREC Correct Answers18 years old a US citizen or lawfully admitted alien resident of the state A certificate is required seperate of the license when Correct Answersbuying, selling or leasing an easement per...

Scott's Michigan Real Estate Brokers Test Prep. Exam Questions And Correct Answer New Update A neighbor had encroached on a property but the owner did not complain within the legally specified time period. The neighbor would obtain rights to the land by: A » license B » easement by necessity C » easement by prescription D » easement in gross - Answer -(C) An encroachment (fence, tree limb, etc.) that remains for a lengthy period can become an easement by prescription (continuous, ope...

Escrow Sample Test Questions and Answers Rated A An escrow is an arrangement that: a) Holds documents, b) Holds funds, c) Creates documents to affect a transfer of interest in property, d) is responsible for guaranteeing funds. A, B, C, E When is it necessary to have closing documents recorded prior to disbursement of escrow funds? a) it is not necessary, b) in almost all situations, c) when instructed by one of the parties to the escrow, d) only when the written instructions require recording...

An example of an appurtenance to land is: A. An easement in gross B. A bill of sale C. An assignment D. A sublet - ANSWERSRationale: A is the correct answer. Appurtenances are those rights, privileges, and improvements that belong to and pass with the transfer of real property but are not necessarily a part of the property, such as rights-of-way, easements, water rights, and property improvements. An easement that is not created for the benefit of the land owned by the owner of the easement....

Real Estate Principles 2 Questions and Answers 100% Pass What is the primary purpose of an appraisal in real estate? To determine the market value of a property. What is a key factor that affects property value? Location of the property. What is the difference between a lien and a mortgage? A lien is a legal claim on a property for the payment of a debt, while a mortgage is a specific type of lien used to secure a loan for purchasing property. What is an easement in real es...

Objectives of Federal Reserve System - To counteract inflationary and deflationary trends, to create a favorable economic climate, to maintain sound credit conditions but NOT to control the secondary mortgage market Remainder Interest - A fee simple holder of a parcel of real estate grants a life estate to her daughter and stipulates that upon the daughters death, the property will pass to her grandson. The second estate is called A property buyer obtains a term loan to finance a home purc...

A lien is an example of a/an...? - Encumbrance - Entitlement - Estoppel - Escheatment Encumbrance If a property has both a tax lien and a mortgage lien against it, which lien has priority (generally speaking)? - Tax lien - Mortgage lien - They have equal priority - Whichever lien was filed first Tax lien A lien that is not tied to a specific piece of real estate is called a...? - General lien - Non-specific lien - Statutory lien - Tax lien General lien T...

API 1169 Exam Quizzes Completed with A+ Graded Answers Class Soil Rock Class 1 30 (762) 18 (457) Class 2, 3, 4 36 (914) 24 (610) Drainage ditches of public roads and railroad crossings 36 (914) 24 (610) Class Soil Rock Class 1 Class 2, 3, 4 Drainage ditches of public roads and railroad crossings RT Examination Which non-destructive testing method is specified in API 1104 30 Calc the top width of a bell hole exc that is 8 ft deep and 6 ft wide. Soil C. Phase III EPA...

NEW JERSEY TITLE PRODUCER 2024 Final Exam Q & A ALTA 1 - CORRECT ANSWER-Street Assessments ALTA 2 - CORRECT ANSWER-Truth in lending owners policy - CORRECT ANSWER-insures estates of ownership, remains constant over the life of the property. Covers property line disputes. A type of title insurance issued in the name of the property owner. Coverage runs from the time of purchase for as long as the policyholder owns the property. mortgage lender policy (loan policy) - CORRECT ANSWER-lende...

MIE 305 Exam 3 Latest Update with Verified Solutions Bundle of Rights sticks metaphor owner = entire bundle of sticks renter = only a few sticks possession, use, control, exclusion, transfer Property Rights the legal rights that a person has over a piece of real property Real Property The legal interests in land and things attached to or growing on land ex: part of the earth’s surface, buildings, fences, and trees used to describe the legal rights that a person can have i...