Colibri Real Estate Final Exam.pdf file:///C:/Users/HP/Desktop/TYPA%20NEW/Colibri%20Real%20Es
Colibri Real Estate Final Exam
1. land contract
ANS buyer pays seller to occupy and use property
2. net lease
ANS buyer pays rent and other expenses
3. gross lease
ANS buyer pays only rent
4. goes to heirs
ANS Tenants in common, 2 of 3 people die. Who gets the property ofthose who died?
5. Tenant owns it in severality
ANS Joint Tenancy, 3 of 4 people die.Who gets propertyof those who died?
6. Client
ANS Another word for principal
7. race, nat. origin, sex, color, religion, disability, familial status
ANS Protected byFair Housing Act
8. marital status
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,Colibri Real Estate Final Exam.pdf file:///C:/Users/HP/Desktop/TYPA%20NEW/Colibri%20Real%20Es
ANS Not protected by Fair Housing Act
9. Blockbusting
ANS telling homeowners that property values will be declining becauseof ethical/racial makeup is
changing
10. flat, paved parking lot
ANS real estate put to its highest use
11. puffing
ANS "This is the most prestigious street in town"
12. $5,000
ANS maximum fine for first offense
13. name and broker
ANS an individual advertisement needs...
14. statement that they are licensed
ANS a brokerage advertisement needs...
15. 48 hours
ANS if listing is submitted to MLS, must notify customer within...
16. at their next meeting
ANS Licensee must deliver Consumer Info Statement when...
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