Psi pa state real estate - Study guides, Class notes & Summaries

PSI PA REAL ESTATE EXAM Questions 2023 Solution Severance- CORRECT ANS - the performance of turning real property into personal property What is the main difference between tendency in common and joint tendency is that with tendency in common, when a co-owner dies?- CORRECT ANS - the undivided interest passes to his heirs A tenant rented an apartment signing a 15 month lease. After the lease expired, the tenant paid 1 month's rent and got a receipt. What kind of leasehold does this...

PSI PA Real Estate Practice Exam Questions and Answers 2023 The economic characteristics of land are scarcity, location, and durability A major difference between freehold and nonfreehold estates is that all freehold estates are of indeterminable duration An easement can be terminated by merger of titles The land description T3N, R4W Principal Meridian refers to what method of property description? Rectangular survey Tenants are still in their rental property eve...

PSI PA Real Estate Exam/ 134 Qs & Ans/ . Terms like: Severance - Answer: the performance of turning real property into personal property What is the main difference between tendency in common and joint tendency is that with tendency in common, when a co-owner dies? - Answer: the undivided interest passes to his heirs A tenant rented an apartment signing a 15-month lease. After the lease expired, the tenant paid 1 month's rent and got a receipt. What kind of leasehold does this tenant ...

Designated Agent - Answer- A person authorized by the broker to act as the agent of a specific principal - common in dual agency relationships, two salespersons from the same company can represent opposite sides of the sale. Income Approach - Answer- What approach does an appraiser take primarily for an investment property? 1.) "Personal Assistant" (Answer) 2.) "Agent-Assistant" 3.) "Proxy-Agent" 4.) "Broker-Assignee" - Answer- Charlie is the personal assistant for the top produ...

PSI PA Real Estate Practice Questions and Answers (Exam) Graded A+ 100% _ out of 100% The economic characteristics of land are - CORRECT ANSWER-scarcity, location, and durability A major difference between freehold and nonfreehold estates is that all freehold estates - CORRECT ANSWER-are of indeterminable duration An easement can be terminated by - CORRECT ANSWER-merger of titles The land description T3N, R4W Principal Meridian refers to what method of property description? - CORRECT ANSWER-...

PSI PA State Real Estate Practice Exam Study Questions and Answers Requires the seller to provide notice to a purchaser about whether a structure on the land is entitled to support from the underlying coal. - ANSWER-Coal Notice Three conditions that must be met for a mobile home to be considered real estate - ANSWER-1. Mobile home is transferred in conjunction with and as a part of an assignment of a land lease or the transfer of an interest in land on which the mobile home is situated; or...

Requires the seller to provide notice to a purchaser about whether a structure on the land is entitled to support from the underlying coal. - ANSWERCoal Notice Three conditions that must be met for a mobile home to be considered real estate - ANSWER1. Mobile home is transferred in conjunction with and as a part of an assignment of a land lease or the transfer of an interest in land on which the mobile home is situated; or 2. Mobile home is permanently attached to a foundation, and 3. Regist...

PSI Real Estate Practice Exam - Michigan (Chapter 1) Practice Questions and Answers Designated Agent - ANSWER-A person authorized by the broker to act as the agent of a specific principal - common in dual agency relationships, two salespersons from the same company can represent opposite sides of the sale. Income Approach - ANSWER-What approach does an appraiser take primarily for an investment property? 1.) "Personal Assistant" (Answer) 2.) "Agent-Assistant" 3.) "Proxy-A...