Removing encumbrances Study guides, Class notes & Summaries

Which of the following is intended to ensure that consumers are provided with information on the nature and costs of the settlement process? FCRA HPA HOEPA RESPA RESPA Which of the following best describes a loan with a principal balance exceeding Fannie Mae or Freddie Mac guidelines? Subprime Jumbo Illegal Balloon Jumbo A borrower receives $1,000 per month in rental income. How much of the income may be used to qualify the borrower for a loan? $1,000 $800 $750 $1,250...

Leasehold Estates - Answer- possession and use of property without ownership Estate for years (tenancy for years) - Answer- any lease with a specific starting and ending date. Survives the death or sale of the property Periodic Tenancy/periodic estate - Answer- lease that automatically renews itself for like periods. example month to month. Requires notice to terminate Estate at Will - Answer- Very loose agreement, terminates on death or sale of the property Tenancy in Sufferance - A...

Yes, to ensure the property is protected. Is it mandatory to be present at any third-party inspections at the home? - A buyer representation agreement or a buyer customer service agreement - The accepted agreement of purchase and sale - The FINTRAC form for identification verification and Receipt of Funds for the deposit At the time an offer is accepted, what documents must be provided to the brokerage? The conditions are historical evidence of the progress of the parties i...

Yes, to ensure the property is protected. Is it mandatory to be present at any third-party inspections at the home? - A buyer representation agreement or a buyer customer service agreement - The accepted agreement of purchase and sale - The FINTRAC form for identification verification and Receipt of Funds for the deposit At the time an offer is accepted, what documents must be provided to the brokerage? The conditions are historical evidence of the progress of the parties i...

REE 4433 Exam 3 (CH19) Which of the following is NOT part of the seller's preparation for closing? - Answer-Obtaining financing (CH19) The attorney's role in the closing - Answer-consists largely of preparation for the closing by examination of the documents (CH19) The listing broker's role in the preparation of the closing is normally one of - Answer-facilitating the closing by communicating with the parties (CH19) Which of the following is NOT part of the buyer's preparation fo...

Texas Principles Of Real Estate II Final Exam Questions and Answers Latest Updated Complete VersionWritten documents affecting a title to real estate are recorded: A. where the titleholder resides B. where the titleholder has legal residence C. at the county clerk's office where the property is located D. at any county clerk's office in Texas -answer- C. at the county clerk's office where the property is located A person appointed by a court to settle the estate of a deceased ...

Texas Principles of Real Estate II Final Exam: Questions & Answers: Latest Updated. Written documents affecting a title to real estate are recorded: A. where the titleholder resides B. where the titleholder has legal residence C. at the county clerk's office where the property is located D. at any county clerk's office in Texas C. at the county clerk's office where the property is located A person appointed by a court to settle the estate of a deceased person when the executor cannot...

BROKER EXAM QUESTIONS WITH COMPLETE SOLUTIONS Of the following, which are NOT classified as real property? A. Fixtures B. Emblements C. Shrubs planted in the ground D. Air rights Emblements The use of the property could be changed without changing the zoning by using a: A. Restriction B. Variance C. Taking D. Buffer Variance The basic authority for zoning laws is derived from a state's: A. Powers of eminent domain B. Right of taxation C. Police power D. Escheat Pol...

Alaska Real Estate Questions and Answers Graded A Personal Property Items that do not fit into the definition of real property; moveable objects; chattels Real Property land and anything attached to it Fixture An article of personal property that has become real property because it has. Even permanently affixed to the property General partnership An association of two or more individuals who carry on a continuing business for profit; all co-owners are general partners & share full liability f...