Easement by prescription - Study guides, Class notes & Summaries

Brokerage The business of bringing people together in a real estate transaction. Type of Real Property - Special Purpose Cemeteries Real Property Real estate, plus the interests, benefits, and rights inherent in the ownership of real estate Bundle of Rights Possession, control, enjoyment, exclusion, disposition Ownership of real property is often described as a bundle of legal rights Littoral Rights Granted to owners whose land borders commercially navigable waters Where is the...

PSI National Exam for Real Estate Test Bank with complete solutions | Latest 2023/2024 A written agreement in which a purchaser agrees to buy and a seller agrees to sell is called ️ a contract Antitrust laws prohibit competing brokers from all of the following ️ 1. boycotting other brokers in the marketplace. 2. dividing the market to restrict competition. 3. agreeing to set sales commissions and management rates. When a sewer line is installed down a rural road, the cost will probabl...

One who is given a power-of-attorney that allows them to sign the name of a principal to a contract of sale is a(n): A) attorney-in-fact B) broker with a listing C) special agent D) attorney-at-law attorney-in-fact No two parcels of land are exactly alike because no two parcels can occupy the same position on the globe. This is known as: A) township B) section C) scarcity D) nonhomogeneity nonhomogeneity The five essential elements that make a contract valid are: comp...

Texas Principles of Real Estate 1 (2024 / 2025) Exam | Guide with Questions and Verified Answers | 100% Correct Q: curtsey rights Answer: right a husband has to his wifes estate upon her death Q: fee simple defeasable Answer: a gift of land by a person or GRANTOR Q: Life Estate Answer: an estate in land for the duration of someones life (always a gift of land/ real estate) Q: Homestead Answer: Texas is a Homestead State. The property that you own and live in. It is a constitutional right that ca...

ASREB National Test A-3 Questions and Answers Already Passed A buyer sees a worn path across the property he is interested in buying. The buyer should be concerned about: Easement in gross Easement by prescription Condemnation Police Power Easement by prescription A chronological summary of title is called Deed report Abstract of title ATLA policy Title insurance report Abstract of title A clause in a deed which specifies the degree of property conveyed is called: Defeasa...

1 FLORIDA REAL ESTATE EXAM QUESTIONS & ANSWERS, GRADED A+/ Linda purchases property in Escambia County from Susan. Linda has $30,000.00 as a down payment and gets a mortgage in the amount of $150,000.00 and there is no other consideration for the transfer. How much will the doc stamp tax on the deed be? 1) $1,050.00 2) $1,260.00 3) $630.00 4) $525.00 - -$1,260.00 Tax calculation: $150,000 + $30,000 = $180,000/100 = 1800 (taxable $100 units) x $0.70 = $1260.00 tax due. Heather has b...

Man made markers such as a steel rod or concrete post may be part of what type of legal description? Select one: A. Subdivision System B. Government Survey System C. Metes and Bounds D. Lot & Block - ANSWERMetes and Bounds After unsuccessful negotiations, Joe went to court to gain regular access to his property. The judge likely granted Joe a (an): Select one: A. personal easement in gross. B. easement by necessity. C. easement by prescription. D. easement appurtenant. - ANSWE...

DONALDSON FINAL EXAM 2024 QUESTIONS WITH COMPLETE ANSWERS Man made markers such as a steel rod or concrete post may be part of what type of legal description? Select one: A. Subdivision System B. Government Survey System C. Metes and Bounds D. Lot & Block - Metes and Bounds After unsuccessful negotiations, Joe went to court to gain regular access to his property. The judge likely granted Joe a (an): Select one: A. personal easement in gross. B. easement by necessity. C. easement by...

Florida Real Estate Exam Linda purchases property in Escambia County from Susan. Linda has $30,000.00 as a down payment and gets a mortgage in the amount of $150,000.00 and there is no other consideration for the transfer. How much will the doc stamp tax on the deed be? 1) $1,050.00 2) $1,260.00 3) $630.00 4) $525.00 - correct answer -$1,260.00 Tax calculation: $150,000 + $30,000 = $180,000/100 = 1800 (taxable $100 units) x $0.70 = $1260.00 tax due. Heather has been using a roadway...

Mary is interested in a parcel of real estate owned by Kathy. Mary has a title report that shows the property is encumbered by several liens. The lien with the highest priority is the lien: a. of lowest amount b. of highest amount c. first recorded d. first in date - Answer-c. first recorded The physical characteristics of land include: a. indestructibility b. homogeneity c. improvements d. supply - Answer-a. indestructibility Which of the following restrictive covenants is MOST likel...