Deed in lieu Study guides, Class notes & Summaries

Linda purchases property in Escambia County from Susan. Linda has $30,000.00 as a down payment and gets a mortgage in the amount of $150,000.00 and there is no other consideration for the transfer. How much will the doc stamp tax on the deed be? 1) $1,050.00 2) $1,260.00 3) $630.00 4) $525.00 correct answers $1,260.00 Tax calculation: $150,000 + $30,000 = $180,000/100 = 1800 (taxable $100 units) x $0.70 = $1260.00 tax due. Heather has been using a roadway at the back of the 22 acres ...

Arizona School of Real Estate & Business: Sales Exam Already Passed When a deed in lieu of foreclosure is given to a lender, which of the following is true? Time and cost are less B buys land from W using a deed of trust as security for the carryback. B makes all the payments except the final three and is now in default. W does nothing and decides not to foreclose until later. By doing this W is exercising his right of: Forbearance A commercial building is sold in a foreclosure for $100,000 le...

Which of the following is a permitted free offering? o- A. A complimentary home warranty with every listing B. A coupon for a discounted commission on listing services C. A free dinner for attendees at a homebuyers' evening seminar D. Free use of a local moving van for all listings - C. A Free dinner for attendees at a homebuyers' evening seminar Depreciation usually applies to . A. the building only. B. the land only. C. both the land and the building. D. income obtained from the bui...

The department requires start up funds equal to ______ months operating expenses. (85018)(b)(1) - 3 months No other person than the _____ shall alter the prescription label. (80075)(k)(4) - dispensing pharmacist Medication shall be centrally stored when...(80075)(j) - 1. preservation of medication requires refrigeration 2. medication is determined by the physician to be hazardous if kept by the resident 3. administrator/licensing determines the medication to be a safety hazard due to phy...

Real Estate - National Ownership Review Exam Guide 2024.A court orders Jerry to allow neighbor Loretta to drive across his property because it is the only way Loretta can reach her property from a public road. The easement created is an 1 - easement in gross. 2 - easement by prescription. 3 - easement by personal license. 4 - easement by necessity. - ANSWER 4 - easement by necessity. Where do the overall guidelines for zoning, building codes, and development requirements in a jurisdicti...

The seller of realty under a land contract. CORRECT ANSWER vendor Financing that does not give the lender the added security of a government guarantee or insurance. CORRECT ANSWER conventional financing Loan programs that are either insured or guaranteed by the federal government. CORRECT ANSWER government financing A loan program under the Department of Agriculture designed to meet the needs of low-income and moderate-income rural residents to purchase, construct, repair, or relocate a...

Which of the following is most vital or important in planning a subdivision: - Market Analysis When rent is computed on the gross sales of a business occupying real property, the lease is correctly termed: - Percentage Lease What is not an adequate method of transferring property? - Executive Sale What is considered personal property? - Existing Mortgage If an income property is valued at $100,000 based on an 8% capitalization rate, what would be the value of the property if a 10% return i...

A buyer and seller agree to prorate the cost of lawn maintenance, cleaning fees, and related services on a property. The cost prepaid by the seller is $450 for the month of June. The closing date is June 20, with the seller paying for the day of closing. How much does the buyer owe? B. 150$ The seller has into a the listing appointment the seller asks the broker not to disclosure the period treatment repair since they're know corrected the broker should B. Insist that the seller disclose the...

Real Estate Salesperson California State Exam Questions and Answers 100% Pass Which of the following is most vital or important in planning a subdivision: - Correct Answer ️️ -Market Analysis When rent is computed on the gross sales of a business occupying real property, the lease is correctly termed: - Correct Answer ️️ -Percentage Lease What is not an adequate method of transferring property? - Correct Answer ️️ - Executive Sale What is considered personal property? - Corre...