Conventional life estate - Study guides, Class notes & Summaries

Washington Real Estate AMP National Cram Exam 5 with correct Answers The right to limited use, but not to the possession of someone else's real property is: A) a deed restriction B) an easement C) a mortgage D) a lease - Ans ️️ -B) an easement Feedback: Correct: If an outside person has an easement across the owner's property, they have limited use. They cannot possess the land and build a home. A lease allows temporary estate/possession of the leased property. Allen owned a lot...

PSI Real Estate Test MA - State Portion Only Already Graded A A farmer temporarily installs produce coolers in a leased farm stand in order to prevent spoilage. The coolers would be considered which of the following? Trade fixtures that are personal property Property can be converted from real to personal property and from personal to real property by means of which processes, respectively? Severance and affixing The highest form of ownership interest one can acquire in real estate is the... ...

A farmer temporarily installs produce coolers in a leased farm stand in order to prevent spoilage. The coolers would be considered which of the following? a) Trade fixtures that are real property. b) Trade fixtures that are personal property. c) Temporary real property. d) Emblements. - b) Trade fixtures that are personal property. Property can be converted from real to personal property and from personal property to real property by means of which processes respectively? a) Assemblage a...

Accession - Increase of land or property, due to man-made or natural causes Accretion - Water carries rock, sand, & soil, causing land buildup Act of Waste - Abuse of property by a person who holds interest through life estate Actual Possession - Possessor must physically occupy property Adaptability of Item to Land's Use - How the item is situated or adapted to real property. If a fireplace is part of an outdoor entertainment center, it can be considered real property, because of how it ...

Review quiz chapters 1-6 superior quiz online with complete solutions Which type of estate cannot pass by inheritance? - fee simple estate - fee simple condition subsequent estate - conventional life estate - pur autre vie life estate -Answer-conventional life estate Which of the following liens is/are considered a "specific lien" on real estate? - deed of trust - mechanic's lien - real estate taxes - all of the above -Answer-all of the above Which of the following statements is/a...

coordinate inspections and deliver documents and escrow monies to the appropriate attorney a broker or affiliate broker may perform all of the following in preparation for the closing EXCEPT may conduct the closing a broker decides he wants to conduct the closing on a all-cash sales of a property between his clients, the seller, and the buyer, his customer. with these parties, the broker receive up to $50K from the real estate education and recovery account for the full judgment ...

A condominium unit buyer has how long to cancel the purchase contract after signing an agreement with a developer? a. 3 days b. 10 days c. 15 days d. 20 days - Answer-c. 15 days A constitutional homestead is owned by a man who is head of a family consisting of himself, his wife, and their three children. The man dies unexpectedly. After his death, a. the widow owns the homestead in fee simple. b. by operation of law, the widow owns a life estate in the homestead, and the children are ve...

A farmer temporarily installs produce coolers in a leased farm stand in order to prevent spoilage. The coolers would be considered which of the following? a) Trade fixtures that are real property. b) Trade fixtures that are personal property. c) Temporary real property. d) Emblements. - ANSWER b) Trade fixtures that are personal property. Property can be converted from real to personal property and from personal property to real property by means of which processes respectively? a) A...

Pearson Vue Practice Exam Questions and Answers Latest Updated 2024/2025 | Scored A+. In stating a seller's price and terms to a prospective buyer, the seller's broker is required by the law of agency to state ONLY those terms that are a. included in the listing agreement b. based on the brokers evaluation of prevailing prices and terms c. favorable for the seller, as determined by the broker d. attractive to buyers, as determined by the broker a. included in the listing agreement a lot ...

CAM TEST QUESTIONS WITH WITH COMPLETE SOLUTION LATEST UPDATE 2024 (GRADED) AIDA - answerAttention, Interest, Desire, Action VAC - answerVacancy, Concessions, Non Revenue, Bad Debt Renters Decision Matrix - answerLocation, housing cost, size, life circumstance Investment - answerThe use of funds to earn a profit Life cycle of Multifamily Real Estate - answerGrowth- Stability- Decline- Revitalization Vendor - answerA separate business entity offering a product or service (recurring basis) Co...