Ohio real estate state - Study guides, Class notes & Summaries

OHIO NOTARY EXAM QUESTIONS AND ANSWERS 100% PASS LIST THE 4 POWERS OF A NOTARY ADMINISTER OATHS; TAKE & CERTIFY ACKNOWLEDGEMENTS; TAKE & CERTIFY DEPOSITIONS; & RECEIVE, MAKE & RECORD NOTARIAL PROTESTS WHAT IS THE TERM OF A NOTARY? 5 YEARS WHERE DO NOTARIES GET SWORN IN & WHAT IS THE CLERK FEE? CLERK OF COURTS / $5.00 STATUTE FOR PENALTY OF NOTARY ACT AFTER EXPIRED COMMISSION 147.10 Notary public acting after commission expires. No notary public shall do or perform any act as a notary public k...

LIST THE 4 POWERS OF A NOTARY ADMINISTER OATHS; TAKE & CERTIFY ACKNOWLEDGEMENTS; TAKE & CERTIFY DEPOSITIONS; & RECEIVE, MAKE & RECORD NOTARIAL PROTESTS WHAT IS THE TERM OF A NOTARY? 5 YEARS WHERE DO NOTARIES GET SWORN IN & WHAT IS THE CLERK FEE? CLERK OF COURTS / $5.00 STATUTE FOR PENALTY OF NOTARY ACT AFTER EXPIRED COMMISSION 147.10 Notary public acting after commission expires. No notary public shall do or perform any act as a notary public knowing that the notary pub...

Ohio real estate (state-specific crammer)correct 100% Three items tenants in common hold - ANSWER 1. Default 2.Shares are equal or unequal 3. No Survivorship Three items joint tenants hold - ANSWER 1. Specify 2.Equal 3. Survivorship How much is in an acre? - ANSWER 43.560 How much does a point equal? - ANSWER One percent How much is in the recovery fund? - ANSWER 500,000-2 million How do you show ownership of a condominium? - ANSWER Deed How do you show ownership of ...

Hondros- Ohio Real Estate Principles and Practices Study Questions with complete solution 2023 When may a person use the term REALTOR? - correct answer after becoming a member of the National Association of Realtors What are advantages to a career in real estate sales? - correct answer - Possibility of owning your own brokerage with additional training , education, and experience - potential for unlimited earnings - setting your own hours What is a disadvantage of a career in real...

Three items tenants in common hold - ANSWER 1. Default 2.Shares are equal or unequal 3. No Survivorship Three items joint tenants hold - ANSWER 1. Specify 2.Equal 3. Survivorship How much is in an acre? - ANSWER 43.560 How much does a point equal? - ANSWER One percent How much is in the recovery fund? - ANSWER 500,000-2 million How do you show ownership of a condominium? - ANSWER Deed How do you show ownership of a co-op? - ANSWER Lease/stock What are key words to lo...

Real Estate State Exam for Ohio Questions & Answers 2023-24 Fiscal Policy - ANSWER-Treasury Department Monetary Policy - ANSWER-Federal Reserve Bond Truth In Lending Act - ANSWER-To provide standard disclosure procedures that all lenders must follow. Required so consumers will know exactly what they are paying for credit so they can compare Annual Percentage Rate (APR) - ANSWER-The relationship between the cost of borrowing money and the total amount financed, represented by a perc...

Broker - Any person, partnership, association, limited liability partnership , limited liability company, or corporation who, for a fee, sells, lists, leases, exchanges, negotiates, or otherwise deals in the real estate of others, or represents publicly that he does. Pretrial Discovery - Using depositions and interrogatories to learn more about the disputed facts in a case from the opposing parties and reluctant witnesses. Case Law - Rules of law developed in court decisions, as opposed to ...

Individual Income Tax Formula - Gross income (-) Deductions for AGI = AGI (-) 1) Deductions from AGI (greater of itemized or standard deduction) and 2) The deduction for QBI = Taxable Income x Tax rate = Gross tax liability (-) Tax credits and prepayments = Tax due or refund Gross Income (section 61) - all income from whatever source derived, whether money, property, or services Taxpayers recongize income when: - 1) receiving economic benefit 2) realizing income 3) there is n...

National Real Estate Exam Portion for Ohio Latest Update Graded A+ Tenancy at Will No written agreement, and can be terminated at any time by landlord or tenant Tenancy at sufferance Tenant is allowed to live on property after lease is over but before they are forced off the property Tenants in common Ownership where tenants could have different amounts of ownership. If passed away heir will take over the undivided ownership (no survivorship) Joint Tenants 2 or more people own equal righ...

When may a person use the term REALTOR? - after becoming a member of the National Association of Realtors What are advantages to a career in real estate sales? - - Possibility of owning your own brokerage with additional training , education, and experience - potential for unlimited earnings - setting your own hours What is a disadvantage of a career in real estate sales? - Not a steady income Most sales persons are hired as? - independent contractors Which is an area of specializa...