A rectangular lot with 1 Study guides, Class notes & Summaries

Scott's Michigan Real Estate Brokers Test Prep. Exam Questions And Correct Answer New Update A neighbor had encroached on a property but the owner did not complain within the legally specified time period. The neighbor would obtain rights to the land by: A » license B » easement by necessity C » easement by prescription D » easement in gross - Answer -(C) An encroachment (fence, tree limb, etc.) that remains for a lengthy period can become an easement by prescription (continuous, ope...

Champions School of Real Estate Exam Prep National Chapter 1 & 2 Latest Update 100% Pass Rights, privileges or improvements that belong to and pass with land. Appurtenance Man made additions to the land such as buildings and landscaping. Also known as free standing Improvements Right or interest in something that is temporary or movable by nature. Also known as chattel or personalty. Personal Property Ownership is transferred by... Bill of Sale When personal property is incl...

What are plywood clips used for? correct answer: Supporting roof sheathing edges between the trusses - clips are used when sheathing roofs framed with trusses due to being 24 inch on center. The clip holds the plywood from being too weak between spans. a contractor is to excavate a basement containing 58,500 cu. gt. she removes 3,950. cu ft, then 9,325 cu ft, then 6581 cu ft and finally 4,873 cu ft. How many cubic feet remain in the basement? correct answer: The answer is calculated by s...

McKissock Liberty University -Basic Appraisal Procedures McKissock questions with correct answersValuation Process - correct answer Systematic set of procedures an appraiser follows to provide answers to a clients questions about real property value Appraisal Process - correct answer 1. Define Problem 2. Determine scope of work 3. Gather Record & verify dat 4. determine highest and best use 5. estimate land value 6. est. value by all three approaches 7. Reconcile est. value into final o...

OK Real Estate Test (PSI Test Questions) with Complete Solutions Under what condition can confidential info be released? The party gives consent to the disclosure in writing. The seller makes a counteroffer. The Buyer accepts and decides to reply using "snail mail". When is a valid purchase contract created using the post office? When the offeree puts the acceptance in the mail. Title insurance is always paid... By the buyer. The revolving fund is under the management of? The...

Basic Appraisal Procedures Mckissock Set Questions And Verified Correct Answers Valuation Process - ANSWER Systematic set of procedures an appraiser follows to provide answers to a clients questions about real property value Appraisal Process - ANSWER 1. Define Problem 2. Determine scope of work 3. Gather Record & verify dat 4. determine highest and best use 5. estimate land value 6. est. value by all three approaches 7. Reconcile est. value into final opinion value 8. report th...

McKissock Learning - Basic Appraisal Principles Exam Questions And Answers 100% Solved repayment of a debt" is the definition of: A) CC&R B) bond C) mortgage note D) debt - answermortgage note "The earth's surface, both land and water, and anything that is attached to it whether by the course of nature or human hands" is the definition of: A) land B) site C) water D) real property - answerA The public restriction on property rights that allows the government to place a lien on a pro...

_______ and ________ soil textural classes are always unsuitable for standard absorptive OSSF - Answer-class IA and IV List each of the major soil horizons - Answer-surface soil A, surface soil B, and parent material _____________ is a term describing the ability of water to migrate through a soil profile under either _________ or __________ conditions. - Answer-Hydraulic conductivity, saturated, unsaturated Interconnected pores in the soil profile allow ______ and _______ to enter the soil...

Property Ownership - ANSWER An item that has a legal owner, along with the attendant rights to legal ownership. Real Property - ANSWER Ownership of real estate and the bundle of rights associated with owning real estate. Personal Property - ANSWER Ownership of anything which is not real estate, and the rights associated with owning the personal property item. Chattel or Personalty - ANSWER Also known as Personal Property. Real Estate - ANSWER Air, water, land, and everything affixed...

McKissock Liberty University -Basic Appraisal Procedures McKissock questions with complete solutionsValuation Process - correct answer Systematic set of procedures an appraiser follows to provide answers to a clients questions about real property value Appraisal Process - correct answer 1. Define Problem 2. Determine scope of work 3. Gather Record & verify dat 4. determine highest and best use 5. estimate land value 6. est. value by all three approaches 7. Reconcile est. value into fina...