Massachusetts Real Estate Exam CORRECT QUESTIONS & ANSWERS|| 2024 LATEST UPDATE|| VERIFIED EXAM BUNDLE

Severence - ANSWER When real property is converted to personal property. Merge of titles - ANSWER Cannot create a legal easement Government surveys - ANSWER Cannot be used in 13 origins Water is scarce - ANSWER The doctrine of prior appropriation most applys

Real Estate - ANSWER Aka real property or realty, is land and certain items attached to the land. The owner of real property has certain rights of ownership: ability transfer ownership, administer, loan against and lease. Most importantly an owner enjoys: possession, control, quiet enjoyment and dis...

Blockbusting causes: A Trust busting B Panic peddling C Blind advertising D Redlining - ANSWER B. Panic Peddling Blockbusting causes panic peddling (also known as panic selling), where homeowners quickly sell their homes for fear of a drop in home values due to the entry of a protected class...

Estoppel - ANSWER one promises to do something and another relies on that promise and is harmed by them not following through Encroachment - ANSWER illegal intrusion or trespass into or over the property of another. such as a wall or fence Nuisance - ANSWER Interferes with quiet enjoyment and ...

Bundle of Rights - ANSWER An ownership concept describing all the legal rights that attach to the ownership of real property. ( posession, control, enjoyment, exclusion, disposition) Personal Property - ANSWER Chattel; movable/ portable; everything that "falls out" of a house that is turned...

Types of Interest - ANSWER Simple- Paid only on the unpaid balance owing. Compound- Paid on the balance plus the accrued interest. Add On- Interest is determined for the life of the loan, and then added to the principal. Discount- Borrower signs a note for the principal and interest combined ...

Sandy, a 16-year old, enters into a contract to buy a condo from Sue, an adult. Which statement is TRUE? - ANSWER Sandy can void the entire contract any time before the transaction is closed. Explanation: It is true that Sandy, a 16-year old minor, can void the entire contract any time before the...

In which type of financing agreement could an original mortgager become a mortgagee? - ANSWER Purchase Money Mortgage The major difference between a license and an easement in gross is that: - ANSWER a license is revocable A developer of a 10 home subdivision would likely benefit most from whi...

RE Salesperson License requirements? - ANSWER 18 years old, 40 hour class, pass the exam, must affiliate with a broker to practice and may not accept direct client payments Broker's License requirements? - ANSWER 3 years salesperson experience, 40 hour class, pass the exam, $5,000 bond and pay...

Emma, a Massachusetts licensed salesperson, wants to place an advertisement in Brookline's local real estate magazine. What must she be sure to include? A. A fair housing statement B. Her broker's complete information C. Her email address D. Her license number - ANSWER B Evan boug...

When done for others and for compensation, which of the following may be done by someone who does NOT hold a real estate license in Massachusetts? - ANSWER Researching school districts and crime statistics for various neighborhoods. Negotiating, selling, or offering to sell real estate all requi...