Michigan Real Estate Exam , L/icense Exam , Michigan Real Estate Exam Practice Questions & Answers 100% Correct(GRADED A+)Michigan Real Estate Exam Practice Questions & Answers 100% Correct(GRADED A+)Michigan Real Estate Exam Practice Questions & Answers 100% Correct(GRADED A+)
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When land is conveyed to a trustee, what may a trustee do? - ANSWER-Whatever is permitted under the trust agreement. What is true of both special assessments an ad valorem taxes? - ANSWER-Delinquent payment is grounds for sale of the property. At the time of harvest, crops that require annual ...
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Add to cartWhen land is conveyed to a trustee, what may a trustee do? - ANSWER-Whatever is permitted under the trust agreement. What is true of both special assessments an ad valorem taxes? - ANSWER-Delinquent payment is grounds for sale of the property. At the time of harvest, crops that require annual ...
owners (they only own the condo, not the land below or air above. Allodial System - ANSWER-Current system employed in Accretion - ANSWER-The addition to real estate by accumulation of soil and land through nature. Accrued Depreciation - ANSWER-Loss in value of a property due to time. Differenc...
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Add to cartowners (they only own the condo, not the land below or air above. Allodial System - ANSWER-Current system employed in Accretion - ANSWER-The addition to real estate by accumulation of soil and land through nature. Accrued Depreciation - ANSWER-Loss in value of a property due to time. Differenc...
A landlord must place security deposits into a regulated financial institution unless the - ANSWER-a. landlord deposits a bond with the Secretary of State. REASONING: The security deposit must be deposited in a regulated financial institution. A landlord may use the security deposit if the landlord ...
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Add to cartA landlord must place security deposits into a regulated financial institution unless the - ANSWER-a. landlord deposits a bond with the Secretary of State. REASONING: The security deposit must be deposited in a regulated financial institution. A landlord may use the security deposit if the landlord ...
All of the following include a real estate interest except: A. Apple trees B. Farm equipment C. Air rights D. Barns - ANSWER-B. Farm equipment An owner of a 90 acre parcel of land wishes to split the land without platting. Under the michigan land devision act, how many parcels may this owner ...
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Add to cartAll of the following include a real estate interest except: A. Apple trees B. Farm equipment C. Air rights D. Barns - ANSWER-B. Farm equipment An owner of a 90 acre parcel of land wishes to split the land without platting. Under the michigan land devision act, how many parcels may this owner ...
vendee - ANSWER-a buyer or purchaser particularly someone buying property under a deed vendor - ANSWER-seller ,particularly someone selling property by means of a contract for deed escalation clause - ANSWER-increase or decrease interest rate based on annual percent deed - ANSWER-written do...
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Add to cartvendee - ANSWER-a buyer or purchaser particularly someone buying property under a deed vendor - ANSWER-seller ,particularly someone selling property by means of a contract for deed escalation clause - ANSWER-increase or decrease interest rate based on annual percent deed - ANSWER-written do...
Ownership in Severalty - ANSWER-Undivided ownership of an estate. Right to quiet enjoyment - ANSWER-A lessee's right to possess a property without interference from lessor, previous owner, or anyone else about the claim to the title. Joint tenancy - ANSWER-Requires all four unities: time, tit...
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Add to cartOwnership in Severalty - ANSWER-Undivided ownership of an estate. Right to quiet enjoyment - ANSWER-A lessee's right to possess a property without interference from lessor, previous owner, or anyone else about the claim to the title. Joint tenancy - ANSWER-Requires all four unities: time, tit...
Special Assessment - ANSWER-A category of property tax levied upon a property according to specific benefits that it receives. Special assessments are levied for those improvements that only benefit a limited number of properties such as street paving, water & sewer lines, sidewalks and lighting. ...
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Add to cartSpecial Assessment - ANSWER-A category of property tax levied upon a property according to specific benefits that it receives. Special assessments are levied for those improvements that only benefit a limited number of properties such as street paving, water & sewer lines, sidewalks and lighting. ...
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