Conveyance Study guides, Class notes & Summaries

Anticipation - ANSWER-Value is created by the expectation of benefits to be derived in the future Substitution - ANSWER-the prices, rents, and rates of return of property tend to be set by the current prices, rents and rates of return for equally desire able substitute properties. Contribution - ANSWER-the value of a component of real estate can be measured by the amount it contributes to net operating income because net operating income can be capitalized into value. Market Value - ANS...

Law of Contracts - Champions Test | Questions & Answers (Graded A+) Law of Contracts - Champions Test | Questions & Answers (Graded A+) Wrongful or criminal deception intended to result in financial or personal gain is called: - ANSWER - fraud The Buyer and Seller Temporary Residential Lease forms may be used for a lease period not to exceed: - ANSWER - 90 days __________ extend above the surface without limitation. - ANSWER - air rights An example(s) of an appurtenance would be: - ...

RELE 1211 – Law of Contracts Final Exam A+ 2023. Which of the following is FALSE regarding community property? a. It consists of real and personal property acquired by either spouse during the marriage. b. Its conveyance requires the signature of both spouses. c. The spouses can will their half of the property to whomever they desire. d. It can be mortgaged or conveyed by one spouse without the consent of the other. 5. Fee simple ownership, shared walls, and a fractional interest in comm...

Who Commissions notaries public? A. State Comptroller B. County Clerks C. Attorney General D. Secretary of State - Correct answer-D. Secretary of State The application fee for a notary public commission is? A. $40 B. $60 C. $80 D $90 - Correct answer-B. $60 An application for a notary public commission must be submitted to? A. County Clerk B. Local civil court C. Division of Licensing Services D. None of the above - Correct answer-C. Division of Licensing Services Which of the fol...

Factors that affect a bid-rent curve - - number of commuters or firms - wage rate (time cost) of commuters - speed of travel - frequency of trips Certain requirements for deed: - - Name grantor and grantee - Consideration and conveyance - Contain certain covenants and clauses - Contain exceptions and/or reservations clause & phsycial descriptions - acknowledgment and delivery Action of water - -Involuntary conveyance -accretion reliction - deposit soil, subsiding of water Actual notic...

Rockwell Ch.2 Quiz – Latest Update with Verified Solutions A transfer disclosure statement would not be required in the sale of which of the following properties? a. mobile home when sold along with the real property to which it is attached b. three-unit multi-family dwelling c. single-family home listed for sale by owner d. retail space in commercial district d. retail space in commercial district Explanation: The transfer disclosure statement is only required for transa...

Conveyancing - LPL 4804 - Multiple choice memo - checked by a senior conveyancer Repeat questions have been removed for your convenience

A Notary who refrains from performing a duty, which is imposed by law or inherent in the nature of his/her office, may be guilty of? a. A felony b. Criminal Contempt c. A Tort d. A Misdemeanor d. A Misdemeanor A copy of a public record signed and certified as true copy by the public official having custody of the original is known a(n): a. Affirmation b. Authentication c. Certified Copy d. Acknowledgment c. Certified Copy To grant the right of usage in real property to an...

Rockwell Fundamental Final Exam #1 Questions and Answers 100% CorrectRockwell Fundamental Final Exam #1 Questions and Answers 100% CorrectRockwell Fundamental Final Exam #1 Questions and Answers 100% CorrectRockwell Fundamental Final Exam #1 Questions and Answers 100% Correct Which of the following is most likely to be considered a fixture? A. Draperies B. Lamp C. Plumbing D. Washing Machine - ANSWER-C. Plumbing A life estate will last until: A. economic conditions render it unfeas...

Mary dies, and in a handwritten will with no witness, gifts her house to her grandson. Mary has created what kind of will? a. testamentary b. holographic c. harmonious d. automatic - correct answer -b. holographic Sally and Jorge are a married couple who own a house together. The couple has one adult daughter, Emilia. When Jorge dies intestate, who receives the house? a. Sally receives the house b. Emilia receives the house c. Both Sally and Emilia receive one-half d. Sally receiv...