Real property realty - Study guides, Class notes & Summaries

Sue the broker - Answer- Sales associate, Tim, received a signed contract from a buyer and ailed it to the seller. The seller agreed to the terms and the escrow deposit was deposited safely in the brokers escrow account. Tim has a disagreement with his broker and quits. The broker refuses to pau a commission since tim was not in his employ when the contact was actually received and signed. What should tim to? The one who engages the broker in a single agency relationship - Answer- Who is the ...

Loss exposure Any condition or situation that presents a possibility of loss, whether or not an actual loss occurs. Cause of loss (peril) The actual means by which property is damaged or destroyed. Property loss exposure A condition that presents the possibility that a person or an organization will sustain a loss resulting from damage (including destruction, taken, or loss of use) to property in which that person or organization has a financial interest. Real property (r...

Rich owns a few properties just outside of Tulsa, and he wants to manage them himself. Does Rich need to have a real estate license? Topic: Property Management Subtopic: License Requirements and Exemptions No. Oklahoma doesn't require property managers to hold a real estate license. No. Property owners managing their own properties do not need to hold a real estate license. Yes. If Rich has someone else manage and handle the property finances, he can perform the rest of the tasks him...

OREC Final Kevo Questions and Answers Graded A+ The real estate market may be described in all of the following ways EXCEPT: free market. local market. moveable market. market that is slow to react to change in supply and demand. C. moveable market The provisions of the Oklahoma Real Estate License Code originate in the state legislature. The agency created in 1950 to administer and enforce the Code is the: National Association of REALTORS®. Association of Real Estate Lice...

Property loss exposure ️ A condition that presents the possibility that a person or an organization will sustain a loss resulting from damage (including destruction, taking, or loss of use) to property in which that person or organization has a financial interest. Real property (realty) ️ Tangible property consisting of land, all structures permanently attached to the land, and whatever is growing on the land. Personal property ️ All tangible or intangible property that is not real ...

CCR COLORADO CONTRACTS & REGULATIONS QUESTIONS AND ANSWERS, 100% ACCURATE, GRADED A+/ Which of the following must have a real estate license in Colorado? A. An on-site manager of an apartment building performing the customary duties of an on-site manager. B. A regularly salaried, on-site manager of a condo complex employed by a homeowner association, who also shows and sells units in the complex, for individual owners. C. A real estate broker licensed in another state that receives a s...

Real Estate Exam Prep (Champions; Texas) Latest Update Graded A+ appurtenance term used to describe rights, privileges or improvements that belong to and pass with the land improvements man's additions to the land such as building and landscaping personal property also called chattel or personalty; a right or interest in smiting of a temporary or movable nature and includes anything not classed as real property. Real property becomes personal property through severance. bill of ...

AINS 102 UPDATED ACTUAL Questions and CORRECT Answers individuals and families property loss exposures stem from ownership of 2 main categories of property - CORRECT ANSWER- real property (realty) and personal property real property - CORRECT ANSWER- land, buildings, other structures attached to the land, and anything embedded in the land personal property - CORRECT ANSWER- dwelling contents (furniture), high-value property, rare or unique property, business personal property, intangi...

AINS 102 (New 2023/ 2024 Update) Understanding Personal Insurance Exam Prep_ Questions and Verified Answers_ 100% Correct QUESTION Real property (realty) Answer: Tangible property consisting of land, all structures permanently attached to the land, and whatever is growing on the land. QUESTION Reinsurance Answer: The transfer of insurance risk from one insurer to another through a contractual agreement under which one insurer (the reinsurer) agrees, in return fo...

Arizona Real Estate Exam Questions With Verified And Updated Solutions. Gareth inherits a plot of land from Jessie. A year later, he sells half of the property to kim. A year later, she gives her half to Alex, who sells the mineral rights. This series of events best represents the legal property of: A. Control B. Disposition C. Possession D. Quiet enjoyment - answerDisposition Which is not an example of an improvement? A. the barn on the back of the property B. the fence running along...