Oklahoma real estate Study guides, Class notes & Summaries

Oklahoma Real Estate Final Test Practice Questions with Verified Answers Tenant Kelly has the right to use landlord bob's property according to the lease does kelly have an interest in the property? No because they don't own the property If a life estate names a third party to receive title to the property upon termination of the life estate, the party who receives the interest is called what? Remainder interest What is an example of an involuntary lien? Judgement lien, Income t...

OKLAHOMA REAL ESTATE EXAM PREP

OKLAHOMA REAL ESTATE PORTION /PSI REAL ESTATE TEST

Oklahoma Real Estate Exam PSI Questions and Answers 100% Pass Real Property or "Realty land along with its improvements Real property and what are generally synonymous? Real Estate (Real Property is the preferred term when distinguishing between Personal Property.) Estate generally, everything one owns Land earths surface, subsurface to the center of the earth, the space overhead, and the rights to each Improvements Additions to property that increase its value or enhance its ...

PSI Real Estate Exam (MD State Portion) Latest 2023 Graded A+ Real Estate brokerage is govern by: 1. Satutory Law - Brokers Act "Title 17" 2. Administrative Law - Code of Maryland Regulations (COMAR) Regulation is enacted and enforced by MD Real Estate Commission (MREC) Brokerage Services: For consideration: - *Selling, buying, exchanging, or leasing* any real estate or collecting rent - Assisting to *locate/obtain* for purchase/lease any residential real estate - Serving as a consultant En...

Oklahoma Real Estate Broker Exam Ch 18-26 Questions and Answers Already Passed A Brick fence straddles the property line of two neighbors. The neighbors agree not to damage it in any way. This is an example of: A Party Wall. A court renders a judgement which authorizes a lien to be placed against the defendant's house, car and personal belongings. This is an example of A general judgement lien. Among junior liens, the order or priority is generally established accordint to the da...

Oklahoma Real Estate Final Exam Questions and Answers Already Passed Which one of the following would not be considered reason to discipline a real estate licensee: Advertising to sale a personal residence Which one of the following would not be considered a prohibited act and reason for loss of license: Failing to pay your personal taxes within the one year time period In accordance with Rule 605:10-17-4, which one of the following would not be considered a prohibited act by the Co...

PSI Oklahoma Real Estate Practice Test Questions and Answers 100% Pass MOST closed real estate transactions should be reported to the IRS. REQUIRED information includes seller name(s) and social security number(s) and the sale price An owner hired a construction company to build a swimming pool at a new home. The owner failed to pay the bill once the work was completed and the construction company filed a lien to obtain payment of the debt. The encumbrance created is called a mechanic...

: According to the common law of agency, a licensee has which of the following obligations to an individual that prefers to remain a customer rather than become a client? - HONESTY AND FAIR DEALING "Without both parties' written consent, the broker is prohibited from representing both a seller and a buyer in the same transaction," defines: - DUAL AGENCY A asked you to appraise their property. This property had no monthly income and had no comparables in the market. You would most likely...

"The present worth of future benefits arising from the ownership of real property," is the definition of - Value "Without both parties' written consent, The broker is prohibited from representing both the seller and the buyer in the same transaction," defines: - Dual Agency A and B signed a contract that was based on illegal consideration, this contract is - Void A asked you to appraise their property. The property had no monthly income and had no comparable in the market. You would m...