Leasehold policy - Study guides, Class notes & Summaries

Means having importance, relevance or consequence to a person making a decision regarding the purchase, sale or lease of real estate. - Interest in the transaction You must have a trust account for - Each area of business must have a separate trust account A provision in an insurance contract limiting the maximum liability of an insurer for a series of losses in a given time period, such as the policy term is: - Aggregate Limit The Wyoming Real Estate Recovery Fund - Was created to help pro...

WRA Pre Exam Review Questions And Answers (Verified And Updated) What rights to property come with ownership? - answerControl; Disposition; Quiet enjoyment; Encumber; Exclude; Possession. What form of ownership allows title to a deceased spouse's property to pass to the surviving spouse without probate? - answerSurvivorship marital property. A special form of joint tenancy with right of survivorship. Just for married people. What are some examples of encumbrances? - answerEasement; Liens...

How much can you spend on a special event for a client? - Answer-$75 Encumbrances - Answer-A claim, lien, charge, or liability attached to and binding real property Solvency - Answer-the possession of assets in excess of liabilities; ability to pay one's debts. Escrow - Answer-is the process of holding monetary funds by a title agency or bank for the purpose of offering or purchasing real property. Title Insurance - Answer-is the product that is purchased to protect the rights of the owner...

Florida Cam Exam Questions And Answers All Florida Cam Exam All verified A Community Association is generally defined as real or personal property, owned by two or more entities, which share the responsibility for the costs of maintenance and administration - ANS True Purchasers of a timeshare plan have a ten day contract rescission period in which to cancel the purchase - ANS True The Florida Fair Housing Act prohibits discrimination on the basis of handicap - ANS True A val...

Michigan Real Estate Ch. 7 - Transfer of Title to Real Property Questions and Answers 100% Accurate Abstract title - condensed history of the title - provides a summary of all links in the chain of title plus any other public record matters affecting the title - includes legal description of property & summarizes every related instrument in chronological order - one form of commercial title evidence - once completed an attorney must examine it to ensure the chain of title is clear and unbr...

Commercial Package Policy (CPP) 1-1 Policy that covers two or more lines of business by combining ISO's commercial lines coverage parts Businessowners Policy (BOP) 1-2 A package policy that combines most of the property and liability coverages needed by small and medium-sized businesses Output Policy 1-3 A policy that combines, in one form and associated endorsements, all or most of the commercial property coverages that the insured organization needs, and uses a flexible rating pl...

Title insurance exam questions Which of the following statements is true? A domestic company is one chartered in this country. B. a foreign company is one chartered in another country C. an alien company is one chartered in another state D. a certificate of authority is used to companies authorized to transact business in the state D Which of the following statements is not true? A. A single insurance risk can include two or more policies on the same real property. B. A single insuran...

NEW JERSEY TITLE PRODUCER 2024 Final Exam Q & A ALTA 1 - CORRECT ANSWER-Street Assessments ALTA 2 - CORRECT ANSWER-Truth in lending owners policy - CORRECT ANSWER-insures estates of ownership, remains constant over the life of the property. Covers property line disputes. A type of title insurance issued in the name of the property owner. Coverage runs from the time of purchase for as long as the policyholder owns the property. mortgage lender policy (loan policy) - CORRECT ANSWER-lende...

REE 3433 Exam 3 Questions and Answers All Correct What is a procedural necessity in foreclosure? - Answer-There must be public notice and advertisements in local newspapers. Trahan privately signed the deed to his property naming his daughter Beverly as grantee. He did not, however, tell her what he had done. Trahan continued to live and pay taxes on the property. When he died, Beverly discovered the deed in Trahan's safety deposit box. She now claims she has been the owner from the time ...

Champions principles of real estate 1 . EXAMS 3VERSIONS COMBINED Q & A Homestead Protection - ANSWER A statutory estate- a family homestead is protected from forced sale by all creditors except: mortgage, property taxes,m&m liens and homeowner association fees ad valorem taxes - ANSWER Taxes on real estate property's according to value of property Promulgated Contract Forms - ANSWER Written by the Broker-Lawyer Committee and promulgated by TREC these contract forms are for the manda...