Exam (elaborations)
PROPERTY MANAGER LICENSE EXAM | 123 QUESTIONS | WITH ACTUAL ANSWERS!!
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PROPERTY MANAGER LICENSE EXAM | 123 QUESTIONS | WITH ACTUAL ANSWERS!!
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PROPERTY MANAGER LICENSE EXAM |123 QUESTIONS | WITH ACTUAL
ANSWERS!!
1 of 123
Term
When must the property manager must deliver a copy of the signed
property management agreement to the property owner?
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180 days following the foreclosure
Every year. (Annually)
sale.
, No recourse. At the time it is signed.
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2 of 123
Definition
A decree that a parcel of private property is to be taken for public
use under the power of eminent domain.
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Condemnation ECOA?
Hypothecation A Contract is
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3 of 123
Definition
Is means of acquiring title by the occupant where the occupant
has been in open, continuous, exclusive, actual, notorious, and
hostile
occupancy of property under claim of right for the statutory period.
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, remainder interest Constructive Eviction
Adverse Posssession Easment by Prescription
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4 of 123
Term
In Oregon a valid deed must be/have.
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Similar to adverse possession (e.g. extended use of by one neighbor of another
neighbors driveway with the first neighbor openly claiming the right to such
use or a shed built on your neighbors property)
-in writing
-signed by the grantor
-have an identifiable grantee (buyer)
-show acceptance of conveyance by the grantee
-have an adequate property description
-contains words of conveyance
-list the consideration
-be delivered to the grantee.
Any document, claim, unreleased lien, or encumbrance that may impair the title
to real property or make the title doubtful; usually revealed by a title search and
removed by either a quitclaim deed or suit to quiet title.
, Involves...
1) The bank statement balance, adjusted for outstanding checks and
other reconciling items
2)The balance of record of receipts and disbursement or the check register as of
the date of the bank statement
3)The sum or all positive owners' ledgers as of the date of the bank statement.
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Definition
A clients' trust account labeled as "Clients' Trust Account
Security Deposits" on all bank records and checks that is
established and
maintained by a property manager acting in a fiduciary capacity on
behalf of an owner under a property management agreement.
The account is used exclusively for depositing, holding and
disbursing security deposit funds.
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Easment Appurtenant Business name registration
Security Deposits Account Tenants by the entirety
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