Real Estate Principles- 2024| Questions & Answers

Real Estate Principles- 2024| Questions & Answers The Transfer Disclosure Statement (TDS) is required in which type of transaction? A) Sales involving co-owners B) Sales involving federally regulated lenders C) Sales involving one-to-four-family dwellings, except for specified exempt transactions D) Only in "as-is" sales - ️️ - C) Sales involving one-to four-family dwellings, except for specified exempt transactions To qualify for a real estate broker's license, a person must complete A) eight college-level courses. B) a two-year AA degree. C) two college-level courses within 18 months D) a four-year college degree. - ️️ - D) a four-year college degree The appraisal principle of regression provides that a property of higher value tends to decrease in value when surrounded by properties of A) lower value B) Higher income C) lower capitalization D) different character - ️️ - A) lower value An easement by prescription terminates after nonuse for A) 1 year. B) 3 months. C) 5 years. D) 180 days. - ️️ - C) 5 years. The second property tax installment becomes delinquent