Nc real estate test - Study guides, Class notes & Summaries

TITLE - Answer-The right to or Ownership of Real Property Freehold Estates (ownership of undetermined length) 2 main categories - Answer-1. Estates of Inheritance 2. Estates NOT of inheritance Fee - Answer-Fee - a right to the use of land Simple - not constrained Estates of Inheritance - 3 categories - Answer-1. Fee Simple Absolute (complete ownership - best kind) 2. Fee Simple Defeasible (aka QUALIFIED FEE) (can be terminated)!!! * Fee Simple Determinable (based on time - no...

NC Real Estate 2023 Exam Questions with All Correct Answers How do you activate your license? - ANSWER Affiliating with a BIC What do you need a license for? - ANSWER LLBEANS List Lease Buy Exchange Auciton Negotiate Sell (procure a ready, willing, or able buyer) What is the 3 prong test? - ANSWER To determine if you need a license. 1. LLBEANS 2. for others 3. for compensation Exemptions to needing a license - ANSWER 1. FSBO 2. Entity (LLC, Corp, Partnership...

In a real estate transaction, which of the following is an example of consideration? - ANSWERSThe seller's promise to sell Your automatic check writer wrote a check for $51.50, but your printer ran out of toner, so you had to fill in the handwritten line. In a hurry, you accidentally wrote, "Fifty-one dollars and no/100 cents." Which amount takes priority? - ANSWERSThe handwritten number Morgan has agreed to sell his home to Dierks, and they've signed a contract. Which of these actions...

Timeshare Test 1 Study Guide Marriott Vacation Club just introduced what kind of ownership? - points Existing Marriott Vacation Club owners will have to convert their ownership into the new program. - FALSE Timeshare sales have increased or decreased in the United States since last year. - Decreased At the end of the semester Dr. Kaufman accepts extra credit papers if you have a poor grade. - FALSE Before the banking issues if you could sign your name and wanted to buy it timesh...

NC Real Estate Exam Chapter 2 Questions and Answers subsurface rights - Answer-rights to use the space below ground level and to extract the natural resources lying below the earth's surface air rights - Answer-rights to use the air above the land riparian rights - Answer-granted to owners of land located along the course of a river, stream or lake giving the owner unrestricted right to use the water, provided such use does not harm owners upstream or downstream littoral rights - An...

NC Real Estate Exam Chapter 2 Questions and Answers subsurface rights - Answer-rights to use the space below ground level and to extract the natural resources lying below the earth's surface air rights - Answer-rights to use the air above the land riparian rights - Answer-granted to owners of land located along the course of a river, stream or lake giving the owner unrestricted right to use the water, provided such use does not harm owners upstream or downstream littoral rights - An...

In a real estate transaction, which of the following is an example of consideration?  The seller's promise to sell Your automatic check writer wrote a check for $51.50, but your printer ran out of toner, so you had to fill in the handwritten line. In a hurry, you accidentally wrote, "Fifty-one dollars and no/100 cents." Which amount takes priority?  The handwritten number Morgan has agreed to sell his home to Dierks, and they've signed a contract. Which of these actio...

TLETA POST STUDY GUIDE LATEST UPDATED Rationalization - Answer ️️ -Denial of victim State court system - Answer ️️ -English common law and NC TN counties - Answer ️️ -95 counties Bail - Answer ️️ -Able to buy out while awaiting trial Affidavit - Answer ️️ -Written statement signed and sworn Warrant - Answer ️️ -Written order to bring someone in Mitimus - Answer ️️ -A writ issued from a court, directing an officer to transport the person named to jail. Posse C...

North Carolina Real Estate Exam Prep Basic, Ownership Interests, Encumbrances, Property Description Exam with Correct Answers Qualified Fee - Answer-aka FEE SIMPLE DEFEASIBLE This term was on practice test and didn't recognize! (you have to qualify to keep title) Estates NOT of Inheritance - 2 categories - Answer-1. Covnentional Life Estate (Life Tenant's ownership ends at his/her death). Then reverts back to grantor or grantor's heirs. 2. Martial Life Estate (abolished in NC - N...

1 / 8 NC Adjuster License Practice Exam Test with Verified Answers Manny is purchasing a Commercial Property policy with a Busi- ness Income form included. Manny can select from any of the following as a method to provide coverage, while avoiding the coinsurance requirement, EXCEPT: The maximum monthly limit of indemnity optional coverage The traditional definition of actual cash value (ACV) is: Replacement cost minus depreciation Sam and Dan are working to clean out the gutters around t...