Asreb national - Study guides, Class notes & Summaries

ASREB National Test A-1 Q & A 2024

ASREB National Test B-6...

The sale of personal property would include a: - correct answer Bill of Sale What governmental right requires compensation to private property owners? - correct answer Eminent Domain If property is obtained by the state after a person dies, this is called: - correct answer Escheat Transfer of real property requires a - correct answer Deed Which of the following would be an economic characteristic of real property? Non homogeneous Frozen Asset Alienation Governmental right...

When a person receives real estate through a will, this is called: Demise Bequest Devise Legacy - ️️Devise A quit claim deed would do which of the following: Remove a cloud on a title Deny the spouse an interest Verify the tax liability Establish a homestead - ️️Remove the cloud on title Which type of deed would have three promises and two warranties: Special warranty General warranty Bargain and sale Quit claim - ️️General warranty When a lessee is promised "qu...

Recording easements do which of the following? Place an encroachment on the property Place an encumbrance on the property Place a lien on the property Places a deed restriction on the property - ️️Place an encumbrance on the property To pledge real property as collateral is called: Hypothecate Devise Demise Descent - ️️Hypothecate Which of the following is an encumbrance? Assignment License Note Mechanics lien - ️️Mechanics lien All of the following would be a li...

An option to purchase is what kind of contract? Unilateral Bilateral Void Unenforceable - ️️Unilateral X made an offer to buy B's property. B accepts the offer under the condition that X moves in four days after close of escrow. What is the status of the contract? Valid Unilateral Counter offer Binding upon X when B signed the offer - ️️Counter offer When a party breaches a contract, they could be responsible for: Criminal damages Class 6 Felony Adverse possession Spec...

ASREB EXAM 2023 (Arizona school of Real Estate, Teachers: Randy H. workshop and other collaborators) Passed!! Wetlands = Police Power Confidentiality = Loyalty and last forever Brownfields = Land with hazardous substance Friable = Asbestos Compensatory Damages Actual damage Type 2 water rights can be.... Sold with the land Sub division 6 or more lots less than 36 acres Nominee To remain anonymous in a contract Future Lien possibly.... Mechanics Lien Written words in a contra...