"Study Smart, Succeed Well"

Fair housing law · prohibits discrimination in real estate based on a number of protected classes o Covers real estate agent, sellers, buyers, landlords, appraisers, and anyone else involved in a RE transaction Civil Rights Act of 1886 prohibits discrimination based on race Fair Housing Act of 1986 o (Title VIII of Civil Rights Act) extends Civil Rights Act to protections to private housing § Prohibits housing discrimination on the basis of race, color, religion, and nation...

Leases -also known as tenancy for years, estate for years, interest for years, or demise -written conveyance of possession but not ownership of real estate, for some specific period of time privity of estate a legal relationship between two people with interests in the same property the longest lease can last 99 years leases longer than 7 years must be recorded in the state or MA Leases are Master01 | November, 2024/2025 | Latest update 1 | P a g e | © copyright 2024/2025 ...

Deeds - How RE is transferred or conveyed -legal document that transfers title or ownership -receipt for RE Valid deed must contain: § Must be written § Grantor must be legally competent § Must name the grantee § Exchange of consideration § Complete and accurate description of the land § Granting clause § Delivery and acceptance habendum clause Master01 | November, 2024/2025 | Latest update 1 | P a g e | © copyright 2024/2025 | Grade A+ used in a deed if the int...

encumberance the term used to refer to restrictions that limit real property public limitations limitations on what property owners can do with their real estate, P.E.T.E Police power the right of the government to regulate privacy activity it its in the public interest to do so eminent domain the right of the government to force the sale of privately owned property if its in the public interest. under the 5th amendment of the constitution the government must pay the owner fair ...

Freeholds Fee simple absolute, fee simple defeasible, life estates Fee Simple Absolute Default type -aka fee, fee simple, fee simple indefeasible -not limited, inheritable -owner is entitle to the entire bundle of rights to the the property -intended to be indefinite and are only limited by public and private restrictions Fee Simple Defeasible -limited in someway Fee Simple Determinable Master01 | November, 2024/2025 | Latest update 1 | P a g e | © copyright 2024/2025 | Gr...

Personal Property Anything not associated with the land, personalty, moveable property Real Property the land, anything attached to the land, and all of the various rights associated with the ownership of the land Deed receipt for real estate granting title transferring ownership Right to possession own Master01 | November, 2024/2025 | Latest update 1 | P a g e | © copyright 2024/2025 | Grade A+ right to control use right to enjoyment use it in any legal way right to ex...

Why do we have licenses? -To protect the public, for the public good. Much of the Government's ability to regulate private transactions stems from Police Power which is the right of the Gov to enact laws to protect the public. - required to represent someone in a real estate transaction and expect to get paid Who needs a license? Any person or entity who for compensation or valuable consideration, offers, sells, or leases for others Who governs licenses? - The board of regis...

appraisal estimate of value of property Title XI of the Financial Institutions Reform, Recovery, and Enforcement Act of 1989 o appraisers must have an appraisal license to make an appraisal for federally related real estate transaction secured by real estate (and for any non-secured real estate transactions over $250,000 value) which covers move RE sales comparative market analyses RE agents can only make these narrative report Master01 | November, 2024/2025 | Latest update 1 ...

contract legally binding agreements between two or more parties (natural or legal persons) perform do what you legally promised in the contract essentials of a contract offer and acceptance, consideration, legal object, reality of consent and competence offer and accpetance (meeting of the minds, mutual agreement, mutual assent) as evidences by signatures or action (making or accepting payment) consideration Master01 | November, 2024/2025 | Latest update 1 | P a g e | © copy...

The epidemiologic and clinical descriptions of a disease are different. True In current thinking, the term epidemic is used only to describe outbreaks of infectious disease. False The Framingham Heart Study, begun in 1948, pioneered research into coronary heart disease risk factors. True Which of the following activities characterizes a clinical approach (as opposed to an epidermiologic approach)? Description of specific signs and symptoms in a patient. Socrates popularized the...