Exam (elaborations)
New York Real Estate 4. Questions and Answers
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New York Real Estate 4.
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New York Real Estate 4According to New York State real property law, a real estate salesperson's license is
issued for a term for how many years? - answer Two
Chris has not renewed his real estate salesperson's license. It has been expired for one
year. To be active again, Chris must - answer Complete the 75-hour pre-licensing
course and pass the NYS sales person licensure exam
A seller agreed to pay Christina directly from the proceeds of a sale. Christina can't
except the commission herself provided she - answer Is a real estate broker
A real estate sales person is usually what type of agent - answer Special
Who must sign a deed? - answer Grantor
Which type of lease provides for step-by-step increment in rent in at regular intervals? -
answer Graduated
In order for a contract for the sale of real estate to be legally enforceable it must be -
answerIn writing and signed by the parties
A gross lease provides that the - answerLandlord pays for all of the expenses of the
rental
What document(s) validate the conveyance of a Proprietary least of a cooperative unit?
- answerShares of stock
In order to create the right of survivorship in New York State a deed must be expressly
to be taken in - answerJoint tenancy
What is the name of an individual who requires title to real property by deed? -
answerGrantee
What type of deed contains no warranties? - answerQuickclaim
Who must sign a deed? - answerGrantor
Which is true when real estate under lease is sold? - answerRemains binding upon the
new owner
Clauses in a lease that calls for increased costs to the tenant over a specified time
during the lease term are known as - answerSubordination clauses
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