What is an easement Study guides, Class notes & Summaries

Escrow Sample Test Questions and Answers Rated A An escrow is an arrangement that: a) Holds documents, b) Holds funds, c) Creates documents to affect a transfer of interest in property, d) is responsible for guaranteeing funds. A, B, C, E When is it necessary to have closing documents recorded prior to disbursement of escrow funds? a) it is not necessary, b) in almost all situations, c) when instructed by one of the parties to the escrow, d) only when the written instructions require recording...

MD Real Estate Salesperson Exam Review with Certified Solutions Which of the following would NOT be considered real property? 1. mineral rights 2. a leasehold estate 3. fixtures 4. air 2. a leasehold estate - a leasehold estate is a non-freehold estate involving the tenant's right to occupy the real estate during the term of the lease The servient estate in an easement appurtenant is the property 1. owned by the landlord 2. on which the easement is placed 3. owned by the...

USPAP 15-hour course Questions and Answers 100% Pass The concept of public trust means that an appraiser must act: in the public's interest USPAP establishes standards that are applicable in the appraisal of: real property, intangible property, and personal property Which statement is TRUE regarding The Appraisal Foundation and USPAP enforcement authority? The Appraisal Foundation does not have the authority to enforce the requirements of USPAP. Which entity is responsible for establishing e...

All of the following would be considered real property except 1. Mineral rights 2. A leasehold estate 3. Fixtures 4. Air - 2. A leasehold estate The servient estate in an easement appurtenant is the property 1. Owned by the landlord 2. On which the easement is placed 3. Owned by the tenant 4. That benefits from the easement - 2. On which the easement is placed Which of the following statements concerning encumbrances is not true? 1. All encumbrances are lien 2. All liens are encumbra...

National USPAP Course Exam 172 Questions with Answers The Appraisal Foundation has the authority to enforce the requirements of USPAP. - CORRECT ANSWER False Currently, the boards within the Appraisal Foundation include: - CORRECT ANSWER Appraisal Standards Board, Appraisal Qualifications Board, Board of Trustees Which Foundation board is responsible for USPAP? - CORRECT ANSWER Appraisal Standards Board Qualification criteria for appraiser certification and recertification are dissem...

Which of the following is most vital or important in planning a subdivision: - ANSWER-Market Analysis When rent is computed on the gross sales of a business occupying real property, the lease is correctly termed: - ANSWER-Percentage Lease What is not an adequate method of transferring property? - ANSWER-Executive Sale What is considered personal property? - ANSWER-Existing Mortgage If an income property is valued at $100,000 based on an 8% capitalization rate, what would be the value...

Real Estate Principles 2 Questions and Answers 100% Pass What is the primary purpose of an appraisal in real estate? To determine the market value of a property. What is a key factor that affects property value? Location of the property. What is the difference between a lien and a mortgage? A lien is a legal claim on a property for the payment of a debt, while a mortgage is a specific type of lien used to secure a loan for purchasing property. What is an easement in real es...

CT Quiz - Real Estate Questions and Answers 100% Pass In Connecticut a dower and curtsey are seen as: not recongized If a husband dies in Connecticut, his wife is entitled to what: an election to take a life estate equal to one-third of the property owned by the husband at the time of his death A homeowner may exempt what amount from debt owed a foreclosing mortgagee: nothing The burden of proof in acquiring an easement by prescription lies with whom: party claiming the easement In Connectic...

A lien is an example of a/an...? - Encumbrance - Entitlement - Estoppel - Escheatment Encumbrance If a property has both a tax lien and a mortgage lien against it, which lien has priority (generally speaking)? - Tax lien - Mortgage lien - They have equal priority - Whichever lien was filed first Tax lien A lien that is not tied to a specific piece of real estate is called a...? - General lien - Non-specific lien - Statutory lien - Tax lien General lien T...

Florida Real Estate Final Exam (Latest 2023/ 2024 Update) Questions and Verified Answers| 100% Correct| Already Graded A Q: For all intents and purposes, subagents are agents of the _______. Answer: a. Buyer b. Seller c. The buyer's broker d. The listing broker b. Although a subagent may bring an unrepresented buyer to the transaction, the subagent is an agent of the seller. Q: Can a new licensee specialize in the sale of farm and ranch property? Answer: a. Not until...