Escrow Study guides, Class notes & Summaries

Colibri Real Estate (Real Estate Express) Final Exam Review (UPDATED) Fully Solved Assured A+. Broker Jane has been accused of a law violation regarding commissions. Which of the following might result in her being found guilty? A) Jane paid a commission to her licensed personal assistant. B) Jane paid a commission to the wife of one of her licensees who was recently killed in an auto accident. The deceased licensee had earned the commission prior to his death. C) Jane paid a commission p...

Nevada Real Estate Exam Questions and Answers (Graded A)Nevada Real Estate Exam Questions and Answers (Graded A)Nevada Real Estate Exam Questions and Answers (Graded A)Nevada Real Estate Exam Questions and Answers (Graded A)What is the minimum balance of the real estate education, research, and recovery fund? A) $300,000. B) $100,000. C) $250,000. D) $500,000. - ANSWER-a 2. How long after the signing of a contract for the purchase of a lot in NV or anywhere else may the purchaser cancel t...

Promulgated Contract Forms: Final Exam 2024 Questions and Answers 100% VerifiedPromulgated Contract Forms: Final Exam 2024 Questions and Answers 100% VerifiedPromulgated Contract Forms: Final Exam 2024 Questions and Answers 100% Verified When earnest money is deposited with an escrow agent, the escrow agent: - ANSWER-A) Is not responsible for the performance of any signatory B) Has the right to secure written release of all signatories C) Is not liable for interest on the money How does th...

Principle meridian - Answer-The north-south lines separating townships 5 ways to acquire property - Answer-Occupancy Accession Transfer Will Succession Escrow agent - Answer-any person engaged in the business of receiving escrows for deposit or delivery Metes and bounds - Answer-A method of land description which involves identifying distances and directions and makes use of both the physical boundaries and measurements of the land. Occupancy - Answer-Openly and hostile for more than 5 ...

Escrow Sample Test – Utah 100% Correct Score An Escow is an arrangement that: (Select all that apply) (A) holds documents (B) holds funds (C) creates documents to affect a transfer of interest in a property (D) acts as an attorney (E) is responsible for guaranteeing funds - Correct Answer ️️ -(A) holds documents (B) holds funds (C) creates documents to affect a transfer of interest in a property (E) is responsible for guaranteeing funds When is it necessary to have closing docum...

Escrow Exam Questions and Answers 100% Pass Principle meridian - Correct Answer ️️ -The north-south lines separating townships 5 ways to acquire property - Correct Answer ️️ -Occupancy Accession Transfer Will Succession Escrow agent - Correct Answer ️️ -any person engaged in the business of receiving escrows for deposit or delivery Metes and bounds - Correct Answer ️️ -A method of land description which involves identifying distances and directions and makes use of both...

PSI TN (State) Exam Questions & Answers 2023/2024 What is the purpose of an escrow account? - ANSWER-Keep money that doesn't belong to you SEPARATE from personal account/money Who is responsible for looking after Escrow Accounts for property? - ANSWER-Broker Another name for Escrow Money (earnest money, security deposits) is_________? - ANSWER-Trust Money When a Broker gets Escrow/Trust money and deposit into the Escrow Account they MUST do what as well? - ANSWER-The Broker must w...

Title & Escrow Questions with 100% Correct Answers Title & Escrow - Correct Answer ️️ -Escrow and title insurance typically go hand-in- hand together in real estate sales or financing types of transactions. Many times, a title insurance company will offer escrow services as well, or escrow can be offered by a separate company dedicated solely to escrow functions. Escrow is a designated and neutral third party firm that collects money and paperwork from all sides in the real estate tran...

Which law applies to Designated Areas (Freehold vs Leasehold for non GCC) Regulation No. 3 of 2006 Which law applies to Regulation of Real Estate Brokers Law No. 85/2006 Which law applies to Land Registration & Ownership (Role of DLD) Law No. 7/2006 Which law applies to Establishment of RERA Law No. 16/2007 Which law applies to Escrow Accounts Law No. 8/2007 Which law applies to Tenancy Law Law No. 26/2007 Law No. 33/2008 (amendment) Which ...

1. The lease contract stated that the renters would bring in the security deposit within five days. It is now the sixth day and the renters have not brought in the money. This is legally referred to as: - Answer- Breach 2. In dealing with the public, a licensee: - Answer- may keep silent about a material fact concerning the property if the client is the owner. d) may negotiate different commissions with different owners. 3. Escrow monies: - Answer- could include security deposits as well a...