Maine real estate final - Study guides, Class notes & Summaries

Maine Real Estate FinalAn adequate legal description of real estate is one: - by which a reasonable person can determine what property is described - the legal description is legally "adequate" if a reasonable person could identify the property based on the description. Ownership of real estate includes: a.) Rights to use the surface, subsurface and airspace over the land b.) Fixtures c.) Naturally growing tree growing on the land d.) All of the above - D.) All of the above Subsurfa...

Maine Real Estate Final Exam Questions and Answers

Maine Real Estate Final Exam Study Guide Test 2024. Two fiduciary duties that never expire - correct answer confidentiality and accounting when must a client give consent to a disclosed dual agency? - correct answer at the time the client signs a listing agreement or buyer representation agreement with the brokerage agency A maine real estate licensee must present the real estate brokerage relationships form to a consumer when engaged in a substantive communication regarding a - correct a...

Maine Real Estate Final Exam Quiz 2024. Truth in Lending - correct answer Truth in Lending (otherwise known as Regulation Z) is intended to do away with deceptive financing tactics, especially those involving hidden costs- for example, advertising a $250 car lease as zero-down and then tacking a $1,200 upfront payment at the time of contract disguised as an "incidental" acquisition fee. Freehold estates include: - correct answer The distinctive characteristic of freehold estates is that ...

Maine Real Estate Final Exam Questions and Answers

An adequate legal description of real estate is one: - ANSWER-by which a reasonable person can determine what property is described - the legal description is legally "adequate" if a reasonable person could identify the property based on the description. Ownership of real estate includes: a.) Rights to use the surface, subsurface and airspace over the land b.) Fixtures c.) Naturally growing tree growing on the land d.) All of the above - ANSWER-D.) All of the above Subsurface rights...

Maine Real Estate Final Exam Questions and Answers- Graded A

Maine Real Estate Final Exam Prediction Questions 2024. What is a branch office? - correct answer A location where business is regularly conducted or that is advertised as where the public may contact the agency. How old must you be to apply for a real estate license in Maine? - correct answer 18 What is the maximum fine that LUPC can impose for a violation? - correct answer $10k per day Shoreland areas include area within how many feet of the normal high-water line of great pond? - co...

Maine Real Estate Final Exam Questions and Answers

An adequate legal description of real estate is one: - by which a reasonable person can determine what property is described - the legal description is legally "adequate" if a reasonable person could identify the property based on the description. Ownership of real estate includes: a.) Rights to use the surface, subsurface and airspace over the land b.) Fixtures c.) Naturally growing tree growing on the land d.) All of the above - D.) All of the above Subsurface rights in real estate i...