What is an executor - Study guides, Class notes & Summaries

PSI National real estate exam questions & answers 2023/2024 Martha was able to go to the closing and sign the paperwork to sell her mother's property while her mother was in the hospital. How could this be possible? 1. Martha may have been named an executor of her mother's will. 2. Her mother may have had a power of attorney drawn up making Martha her attorney in fact. 3. Martha and her mother may own the property as joint tenants, so that Martha may sign as owner 4. Martha's mother...

condominium Severalty ownership of air rights combined with an undivided interest in the common areas of real estate would MOST LIKELY describe a on probation A licensee could be active in the real estate business if his/her license is Agent Kenzie has terminated her relationship with her broker. The broker has returned her license to the BREP. Agent Kenzie has thirty days to place her license in escrow or find another broker Disciplinary actions that can be taken by the ...

Texas Principles Of Real Estate II Final Exam| Questions and Answers, A+ Rated|Newly Updated 2023/2024 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 A person appointed by a court to settle the estate of a deceased person when the executor cannot perform or refuses to perform is: A....

LPL4805 PORTFOLIO MEMO - MAY/JUNE 2023 - SEMESTER 1 - UNISA - (DETAILED ANSWERS - DISTINCTION GUARANTEED!) Question 1. 1.1.1. Distinguish between an inter vivos trust and mortis causa trust (10) 1.1.2. The founder of a trust, together with the trustee has just executed a deed of trust before you, a notary. Indicate the key requirement that the trustee must be in order qualify to act as such. (1) 1.1.3. What must still be complied with in respect of the deed of trust and the trustee befor...

Which of the following are subject to strike legal requirements? D. Records, regardless of format That part of the health record used for continuity of care is the _____ information. A. Clinical The legal health record is defined as that containing the _____. A. Complete and accurate description of the patient's history, condition, Inc. care provided Federal and state statutes (laws) that directly impact the quality of the health record include requirements about _____. ...

Cannon CTFA Prep Questions with complete Answers 2023 Jean and John Simmons are married and own their own home as tenants by entirety. When John dies the home is valued at $350,000. How much will be counted in his gross taxable estate? A. None, as it passes directly to his spouse, Jean. B. $175,000 - or one-half of the value C. $225,000 - or the full amount minus the $125,000 one-time exclusion for capital gains on a person residence. D. $350,000 - the full amount is includable. B. $175,...

How long must real estate documents be kept? - ANSWER-6 years, from the date the transaction was accepted, rejected, or withdrawn Who approves advertising? - ANSWER-Principal broker When should the principal broker review brokers documents? - ANSWER-7 days of the document's acceptance, rejection or withdrawal. The PB must sign and initial at the time of review How long must you keep attendance and continuing records? - ANSWER-3 years everything else regarding business for 6 years Wh...

LPL4804 PORTFOLIO MEMO - MAY/JUNE 2023 - SEMESTER 1 - UNISA - (DETAILED ANSWERS - DISTINCTION GUARANTEED!) Question 1. 1.1 Draft the vesting clause where a couple who are married out of community of property is purchasing an immovable property together in equal undivided shares. Use your imagination for necessary information such as names. (4) 1.2 Would your answer differ if you were describing the same couple as in question 1.1. in the preamble of the deed of transfer, i.e. as trans...

Succession Succession: - This aspect of law deals with what happens to an estate (the assets you leave behind) after you pass away. - Estate = the assets, obligations, liabilities, debts, etc. that you leave behind. - Inheritance = what is left once all the debts and liabilities have been paid. - Succession determines who qualifies to inherit. There are 2 types of succession: - 1) Testate = dealing with wills. - 2) Intestate = dealing with no wills. Terminology: - Deceased = person w...

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 (Ans - 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 perform or refuses to perform is: A. another executor B. a legatee C. an administrato...