Constructive receipt - Study guides, Class notes & Summaries

CTFA - Practice Exam #1 Questions & Answers 2024 "Constructive Receipt" is normally applicable to the tax treatment of... - ANSWER-Non-Qualified Deferred Compensation Plans Non-Qualified Deferred Compensation - ANSWER-TCHRA: Compensation that is not immediately taxable. It does not qualify under ERISA for tax exemption. Taxation occurs once the individual receives the compensation or "property" A 1035 exchange refers to a tax free exchange of... - ANSWER-Annuities 1035 Exchange...

The original 13 states - Legal descriptions using the government survey system are NOT generally used in Prior appropriation - Although states make specific laws governing water rights and the rights in land that borders water, most states generally follow one of two basic doctrines regarding water rights. In many states, the common law doctrine of riparian and littoral rights dictates that water rights are automatically conveyed with property. In others, all water rights are controlled by the ...

The original 13 states - Legal descriptions using the government survey system are NOT generally used in Prior appropriation - Although states make specific laws governing water rights and the rights in land that borders water, most states generally follow one of two basic doctrines regarding water rights. In many states, the common law doctrine of riparian and littoral rights dictates that water rights are automatically conveyed with property. In others, all water rights are controlled by the ...

The doctrine of prior appropriation - Most likely used in states where water is scarce. Water rights are determined by priority of beneficial use. This means that the first person to use water or divert water for a beneficial use or purpose can acquire individual rights to the water. Indeterminable Duration - Major difference between freehold and nonfreehold estates is that freehold estates are Tenancy at will - Tenant rented an apartment signing a 15 month lease, after the lease expired the t...

National Real Estate Exam – Hawaii Questions and Answers 100% Pass In MOST states, when a first mortgage is foreclosed and the property has been sold, junior liens - Correct Answer ️️ -no longer have any claim on the property. A judgment has been properly recorded. Any subsequent purchasers, whether they have actually examined the record or not, have been given - Correct Answer ️️ - constructive notice. A salesperson lists a property with a contract that allows for sub agency an...

1. A will is an instrument for the ordered disposition of real and personal property that is to take effect upon death. Which of the following is a requirement for a will to take effect? - ️️a. The will has a codicil. 2. The Funeral Rule, which is enforced by the Federal Trade Commission (FTC), has many provisions. These include mandated disclosures and restrictive actions. At the very start of a face- to-face discussion with the public regarding the selection of funeral goods or services...

TN Timeshare Salesperson – 1010 Latest Update Graded A Appurtenant A homeowner has negotiated with a neighbor to obtain the permanent right to pass over the northern part of the neighbor's land to gain access to the river. He pays the neighbor $9,000 for the right of access and receives a deed. This is an easement A legal easement can be created by any of the following EXCEPT definition within a deed. A license. A homeowner is willing to let his neighbor park an RV in his backyard. He does ...

CTFA - Practice Exam #1 Questions and Answers 100% Pass "Constructive Receipt" is normally applicable to the tax treatment of... Non-Qualified Deferred Compensation Plans Non-Qualified Deferred Compensation TCHRA: Compensation that is not immediately taxable. It does not qualify under ERISA for tax exemption. Taxation occurs once the individual receives the compensation or "property" A 1035 exchange refers to a tax free exchange of... Annuities 1035 Exchange IRS allows tax-...

Entire Contract Provision - ANSWER found at the beginning of the policy, saying that the policy cannot refer to any outside documents as being part of the contract and prohibiting the insurer from making any changes to the policy after it has been issued. (can only make good changes not bad) Insuring Clause - ANSWER sets forth the company's basic promise to pay benefits upon the insured's death. Free-Look Provision - ANSWER gives policyowners the right to return the policy for a full pre...

In MOST states, when a first mortgage is foreclosed and the property has been sold, junior liens -:- no longer have any claim on the property. A judgment has been properly recorded. Any subsequent purchasers, whether they have actually examined the record or not, have been given -:- constructive notice. A salesperson lists a property with a contract that allows for sub agency and dual agency. The salesperson is -:- an agent to the broker and subagent to the principal. What is the ...