REAL ESTATE EXPRESS PA 30 HOUR FINAL EXAM PREP QUESTIONS AND CORRECT DETAILED ANSWERS A+ GRADED
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Course
COLIBRI REAL ESTATE 30 HOUR PA
Institution
COLIBRI REAL ESTATE 30 HOUR PA
Under the _______ of recording, title passes when the conveyance is registered on the title certificate. - ANS Torrens System
Ownership of a property reverted to the grantor of the estate when its usage failed to conform to a stated condition in the grant. What type of estate existed? - ANS ...
FINAL EXAM PREP QUESTIONS AND
CORRECT DETAILED ANSWERS A+
GRADED
, Under the _______ of recording, title passes when the conveyance is registered on the title
certificate. - ANS Torrens System
Ownership of a property reverted to the grantor of the estate when its usage failed to conform to
a stated condition in the grant. What type of estate existed? - ANS Fee Simple Defeasable
How does Planned Unit Development zoning differ from ordinary zoning? - ANS It requires
that multiple tracts of land be developed according to a single design for efficient use of space.
K
Seller Monica is selling her property to Harriet. What is Monica's primary responsibility at
closing? - ANS To deliver marketable title
C
Unlike buyer/seller agency agreements that create _________, the management agreement
creates ________. - ANS Special agency, General agency
LO
A cooperative is a type of - ANS Residential property
What is a forecast of income and expenses that can be projected over five years? - ANS
Stabilized Budget
YC
What is another common name for the lot and block system of legal descriptions? - ANS
Recorded Plat Method
Which of the following types of property sales typically requires a property condition disclosure?
- ANS A three unit, multi-family dewlling
D
Mary abandoned her property by failing to pay its property taxes, and the property reverted to
the state. This is an example of - ANS Escheat
U
A(n) ________ is one that conflicts with the ordinances that were enacted after the use
commenced. - ANS Legal nonconforming use
ST
Which of the following would be found in a management proposal? - ANS Schedule of
maintenance requirements
The size of jurisdiction's tax base is derived by - ANS subtracting exemptions from assessed
values
Which of the following would be considered community property in a community property state?
- ANS A car the spouses bought together after the marriage
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