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Gold Coast Final Exam Questions And 100% Correct Answers A+ Graded
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Gold Coast Final Exam Questions And 100% Correct Answers A+ Graded...
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Gold Coast Final Exam Questions And 100%Correct Answers A+ Graded
actual notice - ANSWER own it
Constructive notice - ANSWER record something in public records
How Is Real Estate Recovery Funded ? - ANSWER by fees & fines
Eminent Domain - ANSWER government has right to take away public use citizens can't
refuse to sell)
immune properties - ANSWER government owned
lot & block - ANSWER residential sub-division surgery system
Metes and Bounds - ANSWER oldest method of land description & provides the most
accurate type of legal descriptions
What does the Real estate recovery fund do ? - ANSWER reimburse members of the
public
what is a township. - ANSWER a township is 6 miles square contains 36 square miles
Each township contains ____ acres - ANSWER 640 acres
, How many square feet are in an acre? - ANSWER 43,560
kickbacks are illegal unless. - ANSWER someone has a licensed
Offer and Acceptance - ANSWER Meeting of the minds or mutual agreement- all parties
concerned understand and agree to all the terms of the contract
Overimprovement - ANSWER An addition or change to property not in line with its
highest and best use
statute of frauds - ANSWER protects against fraud in the sale of real property. requires
contract for the transfer of a right or interest in land
statute of limitations (oral contracts) - ANSWER if contract is entirely oral, action must
be brought within 4 years
statue of limitations (written contracts) - ANSWER if contract is entirely written, action
must be brought within five years
Sufficient Consideration - ANSWER either valuable or good consideration may be
sufficient
WILD CARD - ANSWER Withdrawal, insanity, lapse of time, death of either party
,counteroffer, acceptance,rejection,destruction of property
option contract define - ANSWER right to buy a property during a specified
period-of-time, at a specified price.
Contract for deed define - ANSWER aka an agreement between a property owner &
potential buyer in which the owner agrees to deliver a deed to the purchaser after
certain conditions been met
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