Restrictive covenants - Study guides, Revision notes & Summaries

These statements regarding restrictive covenants on real property are all true, EXCEPT: A) They run with the land B) They are enforceable in a court of equity unless contrary to public opinion C) They are limited to a specific time period D) They may be removed from the record without legal action - C) They are limited to a specific time period Restrictive covenants are usually not limited to a time period and runs with the life of the land. The MOST important factor in determining whethe...

AZ Real Estate, Questions and answers/ VERIFIED/ What is not a specific lien? - judgment Lien What is not an encumbrance on real property? - homestead right the physical characteristics of land include: - indestructibility what restrictive covenants is most likely to be enforceable? - prohibits use for anything other than single-family dwelling. What would a landlocked property owner most likely ask the court for? - easement by necessity restrictive covenants are enforced by - legal ac...

Classifying contracts: Express & Implied - ANSWERSExpress: Bilateral, executed Intentions stated (orally or written) Implied: Unilateral, executory Inferred from conduct or actions Classifying contracts: Bilateral & Unilateral - ANSWERSBilateral - two promises (both parties bound to do something) Unilateral - Only one party is bound Classifying Contracts: Executed & Executory - ANSWERSExecuted - All tasks performed (After closing) Executory - tasks remaining to be done (befor...

A married couple have prequalified for a $240,000 conventional mortgage. If they put 20% down, they can buy a house for - correct answer $300,000 What facts need not be disclosed in a real estate transaction? - correct answer The property was the site of a homicide. What is a good graphic to show a seller that there will be more activity if the property is competitively priced? - correct answer The pricing pyramid A home sells for $310,500. Expenses of the sale are $4,800. The brokerage...

Arizona Real Estate State Exam Questions and answers, rated A+ Which of the following is NOT a specific lien? a. an unrecorded mortgage b. a mechanic's lien c. a judgement lien d. a blanket mortgage - -c. a judgement lien Which of the following is NOT an encumbrance on real property? a. lease b. easement c. homestead right d. restrictive convenant - -c. homestead right Which of the following is NOT an appurtenance? a. easement right b. mineral right c. water rights d. trade fixt...

RECA Unit 4 Quiz Latest Update 100% Pass Which of the following is an example of an encumbrance on the title? 1. An easement 2. A caveat 3. An encroachment agreement 4. A discharge of registration A) Statements I, II, and IV B) Statements I, II, and III C) Statements II, III, and IV D) All statements apply B The municipal Land Use Bylaw outlines which of the following items? A) Details regarding the various land use classifications B) Permitted land uses and guidelines for...

ways financial intermediaries can reduce transactions costs correct answers - economies of scale - expertise - liquidity services lemons problem correct answers lender is unable to tell good borrowers from bad borrowers solutions to eliminate information asymmetry correct answers - private production & sale of information - gov't regulation - financial intermediation - collateral - net worth ways to solve moral hazard problems correct answers - monitoring - gov't regulation -...

FL CAM License Exam Questions And Answers 1. Condominium form of ownership consists of units owned by one or more persons and joint ownership of ________ share in the common elements. A. a percentage B. an undivided C. a proportional D. a complete - ANS B. an undivided Condominium means individual ownership of a unit coupled with joint ownership of an undivided share of the common elements as well as mandatory membership in the association. 2. Under the General Corporate Law _____...

Define a 'Dwelling Unit' - Answer-A self-contained housing unit with one or more habitable rooms containing at minimum a kitchen, bathroom facilities and an exit from the building. What is the difference between a semi-detached structure and a vertically divided duplex? - Answer-- A duplex is under single ownership (under 1 title) ... the dwelling units can then be lived in or rented out - The 2 dwelling units in a semi-detached structure are each owned separately (under 2 titles) Define ...

"Psychological stigmas," which involve violent or catastrophic events on a property, fall under which category of disclosure? a. Required disclosures b. Prohibited disclosures c. Permitted disclosures d. None of these - Answer c. Permitted disclosures If there is a field in a promulgated form for which you have no information to include, your safest option is which of the following? a. Run a line through it b. Place "N/A" (not applicable) so it is clear that the buyer/buyer's agent...