Escheat - Study guides, Class notes & Summaries

ASREB National Test A-1 Questions and Answers 100% Verified The sale of personal property would include a: Answer-Bill of Sale What governmental right requires compensation to private property owners? AnswerEminent Domain If property is obtained by the state after a person dies, this is called: Answer-Escheat Transfer of real property requires a Answer-Deed

The government's right to make laws and regulations for the general welfare is known as: A. eminent domain B. police power C. escheat D. the bundle of rights - B. police power The City of Atlanta has condemned Nelson's land in order to extend its rapid transit services. This procedure is made possible because of the city's right of: A. entry B. escheat C. eminent domain D. police power - C. eminent domain A private landowner has the right to: A. reject a claim for taxes B. repudi...

McKissock Liberty University -McKissock Learning - Basic Appraisal Principles fully solved"A document or a clause in a document in which the borrower accepts responsibility for the repayment of a debt" is the definition of: A) CC&R B) bond C) mortgage note D) debt - correct answer mortgage note "The earth's surface, both land and water, and anything that is attached to it whether by the course of nature or human hands" is the definition of: A) land B) site C) water D) real property - cor...

What authority originates from the U.S. Constitution and relates to protection of health and welfare of citizens at local levels? A) Situs B) Community protection power C) Escheat D) Police power - Ans D) Police power Police power - The authority of government to protect the property, life, health, and welfare of its citizens. Situs refers to prospective buyers' preference for a certain area.

All of the following are likely to contain a legal description of a parcel of real property EXCEPT a: Select one: a.Mortgage. b.Tax statement. c.Preliminary title report. d.Deed. CORRECT ANSWER Tax statement. If a person dies intestate, the estate passes to the deceased person's heirs according to the: Select one: a.Federal escheat laws. b.State's statue of descent and distribution. c.Judgment of the executor. d.Deceased person's will. CORRECT ANSWER State's statue of descen...

NJ Title Insurance Producer Final Exam Set with Q&A "A" and "B" bought a house as tenants in common. If "A" dies which of the following statements about ownership of the house is correct? A) It automatically becomes tenancy in severalty. B) It is divided, with B retaining their original interest and the balance going to A's estate. C) B holds fee simple ownership to A's share of the property D) B holds a life estate ownership to A's share of the property - CORRECT ANSWER-B) ...

Texas Principles of Real Estate II (2024 / 2025) Exam | Questions and Verified Answers | 100% Correct Q: According to value a. Police power b. Ad valorem c. Taxation d. Escheat e. Condemnation Answer: B Q: The government retains the following rights in lands, EXCEPT: a. Eminent domain b. Allodial c. Police Power d. Taxation Answer: B Q: If a landowner sues the government in order to force it to buy his or her land, this is called: a. Reverse condemnation b. Forward condemnation c. Inverse condem...

A listing agreement with the seller. 1. A broker places a "For Sale" sign on a seller's property. This would be permitted only if the broker has A. A listing agreement with the seller B. Permission from the local municipality C. A signed agency relationship D. Written permission from the seller Escheat 2. When someone dies without a will and without heirs or creditors, his property reverts to the county through the process of A. Devise B. Eminent domain C. Escheat D. Testate de...

The government's right to make laws and regulations for the general welfare is known as: A. eminent domain B. police power C. escheat D. the bundle of rights - B. police power The City of Atlanta has condemned Nelson's land in order to extend its rapid transit services. This procedure is made possible because of the city's right of: A. entry B. escheat C. eminent domain D. police power - C. eminent domain A private landowner has the right to: A. reject a claim for taxes B. repudi...

Co ownership types: - - Condominium - Cooperative - Timeshare Land - may include more than the earth, may also include improvements to the land personal property - things that are movable & not permanently affixed to the land Ownership rights - Real estate provides people with this "bundle of rights" - Rights to: Use/Occupy Sell Lease Give away Do all or none "real property" vs. real estate security privacy location User markets - characterized by competition among users for ...