Nyrei correct stuvia - Study guides, Class notes & Summaries

A leasehold estate that continues for a successive periods of equal length until terminated by proper notice from either party is a - ANSWER Periodic tenancy Physical land and everything attached to it is called - ANSWER Real Estate Equipment a tenant installs for use in his or her business is called - ANSWER Trade fixture The illegal practice of inducing homeowners to sell their homes (Usually at a deflated price) by suggesting the ethinic or racial composition of the neighborhood Is c...

NYREI Quiz Questions and Answers 100% CorrectNYREI Quiz Questions and Answers 100% CorrectNYREI Quiz Questions and Answers 100% CorrectNYREI Quiz Questions and Answers 100% CorrectNYREI Quiz Questions and Answers 100% CorrectNYREI Quiz Questions and Answers 100% Correct Greg lists his home with PDQ Realty allowing them to put a sign in the yard, list it in MLS, and advertise it in the local newspaper. During the listing period, Greg sells the home to his brother and is not obligated to pay PDQ ...

A leasehold estate that continues for a successive periods of equal length until terminated by proper notice from either party is a - ANSWER Periodic tenancy Physical land and everything attached to it is called - ANSWER Real Estate Equipment a tenant installs for use in his or her business is called - ANSWER Trade fixture The illegal practice of inducing homeowners to sell their homes (Usually at a deflated price) by suggesting the ethinic or racial composition of the neighborhood Is c...

Planning board = - ANSWER Comprehensive Board What is the right that government can take property for the public good? - ANSWER Eminent Domain How long is your NY real estate license issued for? - ANSWER 2 Years Resales require a _________________________________________________ , it is not required for new construction or through the court. - ANSWER Property Condition Disclosure Form What do brand new properties require? - ANSWER A Warranty What happens to you if your broker is s...

NYREI Test Questions and Answers 100% CorrectNYREI Test Questions and Answers 100% CorrectNYREI Test Questions and Answers 100% CorrectNYREI Test Questions and Answers 100% CorrectNYREI Test Questions and Answers 100% CorrectNYREI Test Questions and Answers 100% Correct Chapter 1 - ANSWER-According to IRS, salespersons are independent contractors (earnings for 1099) Statutory Non-employees Keep records for 3 years Salesperson - 18 +, Broker - 20+ Receive commissions from supervising...

NYREI Exam Questions and Answers 100% CorrectNYREI Exam Questions and Answers 100% CorrectNYREI Exam Questions and Answers 100% CorrectNYREI Exam Questions and Answers 100% CorrectNYREI Exam Questions and Answers 100% CorrectNYREI Exam Questions and Answers 100% CorrectWho is responsible for the administration of licensing? - ANSWER-Secretary of State Which article of real property law deals with licensees? - ANSWER-Article 12A Which article of real property law deals with real estate tran...

What agency issues real estate licenses? - ANSWER Department of State or Division of licensing Services At what age can you become a real estate salesperson? - ANSWER 18 Do you need experience in the field to become a salesperson? - ANSWER No What is the minimum age to become a real estate broker? - ANSWER 20 Do you need experience in the field to become a real estate broker? - ANSWER Yes, 2 years experience and 3500 points If your license is revoked, for how long do you have to w...

block and lot - ANSWER Which type of legal description uses a survey map of a subdivision? exclusive right to sell - ANSWER Which type of listing agreement provides the greatest opportunity for a listing broker to earn a commission age - ANSWER Which protected class is NOT covered by New York State law but may be covered by a specific municipality? 42,000 - ANSWER Wilma sells her house for $600,000 two months after her husband passed away. They had purchased the house in 1952 for $58,00...

What is the minimum licensing requirement to sell commercial real estate in New York? - ANSWER a real estate salesperson's license What is the preferred method of creating an agency relationship? - ANSWER expressed agency An amenity purchaser - ANSWER occupies or uses the purchased property Condominium units are considered _____ property and are conveyed by _____. - ANSWER real / deed A salesperson who is an independent contractor - ANSWER is not subject to withholding requirements....

block and lot - ANSWER Which type of legal description uses a survey map of a subdivision? exclusive right to sell - ANSWER Which type of listing agreement provides the greatest opportunity for a listing broker to earn a commission age - ANSWER Which protected class is NOT covered by New York State law but may be covered by a specific municipality? 42,000 - ANSWER Wilma sells her house for $600,000 two months after her husband passed away. They had purchased the house in 1952 for $58,00...