Equitable title - Study guides, Class notes & Summaries

REAL ESTATE U FINAL EXAM AND FINAL PRACTICE EXAM LATEST ACTUAL EXAM 300 QUESTIONS AND CORRECT DETAILED ANSWERS (VERIFIED ANSWERS) ALREADY GRADED A+ Are unlicensed assistants allowed to record and deposit trust money deposits and maintain trust account records under the close supervision of the offer broker-incharge? - ANSWER-Yes What entities must have a firm license to operate as a broker in North Carolina? - ANSWER-Any type other than sole proprietorships. When should written a...

A buyer purchases a rental home that is fully furnished. The document used to transfer title to the furniture is: a. quitclaim deed b. bill of sale c. special warranty deed d. general warranty deed - Answer- b. bill of sale Deeds transfer title to real estate, a bill of sale is generally needed to transfer title to personal property. Ben receives a life estate in a property, with his nephew Will designated as the remainderman. When Ben dies, what kind of interest does Will receive? A...

WGU D023 Final Exam (Latest 2024/ 2025 Update) School Financial Leadership | Study Guide Qs & As| Grade A| 100% Correct (Verified Answers) Q: ESEA/ESSA through funding Answer: Title 1, Part A, of the ESEA, reauthorized in 2001, (often called the No Child Left Behind Act) authorizes federal aid to disadvantaged and low-income children for supplementary education and related services. Q: Title I Funding Answer: authorized federal aid to local school districts for the educatio...

National Real Estate Exam Questions and Answers Already Graded A Which of the following constitute an estate (tenancy) for years? A month-to-month lease. A tenancy at sufferance. A lease that is set to last six months. A tenancy at will. 67. A federal law that regulates t 1. Which method of legal description uses point of beginning, direction and distance? Metes and bounds. Lot and block. Government rectangular survey. Recorded plat. Metes and bounds. A borrower's right to sto...

Land - Answer-Surface and all natural things attached to it, subsurface and air above the surface Zoning Administration - Answer-Zoning Board of Adjustment oversees rule administration and appeals Real estate - Answer-land plus manmade permanent attachments Real property - Answer-real estate plus bundle of rights Bundle of Rights - Answer-Possess Use Transfer Exclude Encumber Physical Characteristics - Answer-Immobility; indestructibilit; hetoerogeneity Immobility - Answer-Land...

Title Theory - lender owns, borrower has equitable title Hypothecation - pledging property as collateral for a loan without giving up possession Mortgagee - Lender Mortgagor - borrower Non Judicial foreclosure - *CO: Public trustee has power to foreclose 1.Lender complains 2. Notice given 3. trustee sells after 125 days Strict foreclosure - No sale. Full legal title given to lender, loss of equity for borrower Judicial foreclosure - done through courts in *Title Theory states Conversion...

CON 3990 FAR Exam Practice Questions and Answers | Latest Update 2023/2024. FAR Part 2 -CORRECT ANSWER Definitions of Words and Terms FAR Part 3 -CORRECT ANSWER Improper Business Practices & Personal Conflicts of Interest FAR Part 4 -CORRECT ANSWER Administrative Matters FAR Part 5 -CORRECT ANSWER Publicizing Contract Actions FAR Part 6 -CORRECT ANSWER Competitive Requirements FAR Part 7 -CORRECT ANSWER Acquisition Planning FAR Part 8 -CORRECT ANSWER Required Sources of Supplies and Servic...

Types of Real Property (5) - Answer 1) Residential, 2) commercial, 3) Industrial, 4) Agricultural, 5) Special-purpose. Two Types of Real Property Ownership - Answer 1. Legal 2. Equitable **Most people have BOTH** Legal Title - Answer Actual Ownership of property Equitable Title - Answer When someone holds title for the benefit of others (Trustee of a trust holds title. The Trustee holds legal title to the property, but the beneficiaries hold equitable title) Estates...

Once a contract for deed is signed by the parties, the buyer immediately receives: A. a life estate B. legal title C. equitable title D. the right to lease the property - correct answer C. equitable title A buyer receives equitable title to the property once the land contract has been signed A real estate broker represents the seller in a transaction involving an investment property. Several months later, the new owner asks the broker if he would act as property manager for that pr...

Rockwell Exam 4 Questions and Answers 100% Verified Rockwell Exam 4 Questions and Answers 100% Verified Rockwell Exam 4 Questions and Answers 100% Verified Rockwell Exam 4 Questions and Answers 100% Verified Rockwell Exam 4 Questions and Answers 100% Verified Once a contract for deed is signed by the parties, the buyer immediately receives: A. a life estate B. legal title C. equitable title D. the right to lease the property - ANSWER-C. equitable title A buyer receives equitable title t...