Ownership in severalty - Study guides, Class notes & Summaries

What type of mortgage loan is likely to be tied to a publicly available index that is mutually acceptable to the lender and the borrower? - Answer adjustable mortgage rate The major advantage of ownership in severalty is - Answer flexibility in making decisions A broker lists several newly constructed affordable homes of a builder client. The broker wishes to advertise the homes targeting first time buyers. Which of the following financing terms in the advertisement would trigger further fi...

What rights to property come with ownership? : Control; Disposition; Quiet enjoyment; Encumber; Exclude; Possession. What form of ownership allows title to a deceased spouse's property to pass to the surviving spouse without probate? : Survivorship marital property. A special form of joint tenancy with right of survivorship. Just for married people. What are some examples of encumbrances? : Easement; Liens; Encroachments; Property taxes and Special assessments. What type of interest i...

A real estate development corporation purchased land for a condominium project. The corporation most likely took title to the land A. as a general partnership. B. as a joint tenant. C. In severalty. D. as a syndication. - ANSWERD. as a syndication. Pulls funds for the development of projects Man made markers such as a steel rod or concrete post may be part of what type of legal description? A. Metes and Bounds B. Subdivision System C. Lot & Block D. Government Survey System - ANSWER...

NC real estate broker pre-licensing exam questions and answers Methods of terminating easements (3) - Answer-1. Merger 2. Release 3. Abandonment Express agreement (easement) - Answer-Easement is real property interest and therefore transferred by deed and typically recordsd Types of specific liens (3) - Answer-1. Government lien 2. Mechanic/construction lien 3. Mortgage Types of general liens (3) - Answer-1. Judgment lien 2. IRS or state lien 3. Personal property tax lien Jo...

Tennessee National Portion REAL ESTATE EXAM Latest 2024 Graded A+ A corporation is - Answer ️️ -a legal entity that can buy and sell real estate as set out in its charter. Ownership in severalty is - Answer ️️ -property owned by one individual or corporation. A house is owned by three joint tenants, and one of the owners, as permitted by state law, sells that interest to a new owner. The result is a - Answer ️️ -tenancy in common between the new owner and the remaining joint t...

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) ...

A corporation is - Answer- a legal entity that can buy and sell real estate as set out in its charter. Ownership in severalty is - Answer- property owned by one individual or corporation. A house is owned by three joint tenants, and one of the owners, as permitted by state law, sells that interest to a new owner. The result is a - Answer- tenancy in common between the new owner and the remaining joint tenants The owner of a condominium unit learns that a neighbor has failed to pay real ...

A corporation is a legal entity that can buy and sell real estate as set out in its charter. Ownership in severalty is property owned by one individual or corporation. A house is owned by three joint tenants, and one of the owners, as permitted by state law, sells that interest to a new owner. The result is a tenancy in common between the new owner and the remaining joint tenants The owner of a condominium unit learns that a neighbor has failed to pay real estate taxes. If this neighbor do...

NJ Title Producer Final Exam () Questions and Answers 100% Correct | Distinction "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 prop...

Fee Simple Defeasible Estate CORRECT ANSWER An estate of inheritance that may be nullified upon the occurrence or non-occurrence of a particular event. Escheat CORRECT ANSWER The reversion of property to the state or county, as provided by state law, in cases where a decedent dies intestate and there are no heirs. Freehold Estate CORRECT ANSWER An estate in land characterized by an interest in something immobile and of an indefinite duration Common Elements CORRECT ANSWER All real prope...