Nyrei - Study guides, Class notes & Summaries

NYREI Exam With 100% Correct Answers 2023 employee - Correct Answer-someone who works under the direction and control of another independent contractor - Correct Answer-individual who is self employed statutory employee - Correct Answer-independent contractors specifically classified as employees by statute for social security and medicare taxes statutory non-employees - Correct Answer-direct sellers and licenses real estate agents; treated as independent contracts for all tax purposes...

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NYREI Exam Guide Questions and CORRECT Answers easements - Ans -right to use another persons real property for a particular service -ROW -right of way --> an easement that grants access to property easements in gross - Ans -involves a specific parcel of land -benefits a person or company (dominant tenant) -burdened land is called servient

NYREI Exam Prep Exam Questions & Answers A leasehold estate that continues for a successive periods of equal length until terminated by proper notice from either party is a - CORRECT ️️ Periodic tenancy Physical land and everything attached to it is called - CORRECT ️️ Real Estate Equipment a tenant installs for use in his or her business is called - CORRECT ️️ Trade fixture The illegal practice of inducing homeowners to sell their homes (Usually at a deflated price) by sugge...

NYREI SCHOOL EXAM STUDY

NYREI Terms Exam Questions and Answers Accession - CORRECT ️️ Gives property owners the right to everything produced by their land Accessory Apartment - CORRECT ️️ an apartment within a single family dwelling Accord and Satisfaction - CORRECT ️️ an agreement to accept something different (usually less) from what the original contract required Accretion - CORRECT ️️ the gradual addition of land by the forces of nature actionable fraud - CORRECT ️️ fraud meeting certain...

NYREI STATE EXAM GROUP TUTORING According to the New York State Real Property Law, a real estate salesperson's license is issued for a term of how many years? - CORRECT ️️ Two What type of residential real property transfer would require a property condition disclosure statement? - CORRECT ️️ Re-sales What happens to the licenses of salespersons if their sponsoring broker's license is revoked or suspended? - CORRECT ️️ They are suspended A listing broker for the seller has a...

1 acre - 43,560 square feet 100 by 150 - first number is always the front footage / beachfront 3 Approaches to Value - 1. Sales Comparison Approach 2. Cost Approach 3. Income Approach A broker must give: - all offers to the seller, sound advice on mortgages, accurate appraisals, and explanation of contracts A building super must give: - CO Detector and Heat Oct 1 - May 31 A coworker works for everyone except? - Client, Seller, BUYER, Broker A roommate dies + other roommate automatically...

NYREI Important Terms Exam 2023 Questions and Answers Article 12A, Licensee: - ANSWER ️️ Article 12A is part of the NY. State Real Property Law known as "Real Estate License Law." And it is the article that states the things that can and cannot. Be done with our license. Capital Gains Tax Exemption - ANSWER ️️ Capital gains are profits from sale which are taxed. Taxpayer Relief Act, a law that says $250,000 of profit is tax-free (tax-exempt) for a single person and $500,000 for ...