Conventional life estate - Study guides, Class notes & Summaries

Loan-to-Value Ratio (LTV) - correct answer The percentage of the lesser of the appraised value or sales price that the lender will lend. ex: If a borrower is approved for an 80% loan, it means that the lender will loan up to 80% of the sales price or appraised value, whichever is lower. Package Mortgage - correct answer Includes both real and personal property ( fixtures and furnishings) Blanket Mortgage - correct answer Covers more than one piece of property. Wraparound Mortgage - c...

TSI Testing 126 Questions with Verified Answers In 2010, talk show host Oprah Winfrey and novelist Jonathan Franzen kissed and made up after a nine-year feud. In 2001, Franzen was disinvited from appearing on Winfrey's TV show to pitch his novel The Corrections after he made it clear that he was unhappy about the book's being chosen for the Oprah Book Club. Describing his work as "in the high-art literary tradition," Franzen said he didn't want to be associated with the Club, which he accuse...

RECA Fundamentals Exam Questions and Answers Already Passed Which of the following is NOT a RECA educational resource for industry professionals? Spatial Information System (Spin 2) Which entity has the authority to amend the Real Estate Act Provincial Legislature Which of the following measures the change in a cost of a fixed basket of goods and services purchased by families over a period of time Consumer Price Index (CPI) Which of the following will occur to the supply of a good when ther...

Louisiana Real Estate Exam Complete Solutions ___ is the Louisiana right to dispose of a thing ️Abusus _____ is the organization that will investigate alleged violations of the Louisiana real estate license law ️The LREC A court order to physically divide property among the several owners is a ️Partition in kind A lessor who does not return a security deposit within 30 days of the tenant vacating the property, may be subject to damages for attorney fees and a minimum of: ️$20...

Florida Real Estate STATE exam Questions and Answers 100% Pass The best protection that the public has during a Real Estate transaction is (are) A. The national and state association of REALTORS B. The punishment of licensees dealing dishonesty C. the high ethical standards of real estate agents D. FREC and the license law D. FREC and the license law A group license A. allows a broker to have a branch office B. allows a sales associate to work for more than one broker C. may be held by a...

mortgage Broker - Answer- Functions as a middleman between the borrower and the lender, negotiating, selling or arranging loans to be delivered to large investors Mortgage Banker - Answer- Provide their own funds for the purpose of providing mortgage financing Correspondent Lender - Answer- Smaller in scale then mortgage bankers or brokers, these lenders typically extended loans with their own funds at their own risk Origination - Answer- The process of creating a new mortgage loan U...

pearson vue practice exam Questions and answers, 100% Accurate, graded A+ In stating a seller's price and terms to a prospective buyer, the seller's broker is required by the law of agency to state ONLY those terms that are a. included in the listing agreement b. based on the brokers evaluation of prevailing prices and terms c. favorable for the seller, as determined by the broker d. attractive to buyers, as determined by the broker - -a. included in the listing agreement a lot measu...

A farmer temporarily installs produce coolers in a leased farm stand in order to prevent spoilage. The coolers would be considered which of the following? a) Trade fixtures that are real property. b) Trade fixtures that are personal property. c) Temporary real property. d) Emblements. - Answer- b) Trade fixtures that are personal property. Property can be converted from real to personal property and from personal property to real property by means of which processes respectively? a) ...

National Real Estate Exam: Pearson Vue, Top exam questions & Answers, rated A+ Maria acquires a property from her uncle Alfonso. When Maria dies, the estate will pass to Alfonso's other niece Serena. The type of estate that Maria has in the property is: A. conventional life estate B. legal life estate C. fee simple defeasible estate D. tenancy by the entireties - -conventional life estate One difference between a cooperative estate and a condominium estate is that: A. a condo owner...

Texas Real Estate Practice Exam (2023/2024) Already Passed A farmer temporarily installs produce coolers in a leased farm stand in order to prevent spoilage. The coolers would be considered which of the following? a) Trade fixtures that are real property. b) Trade fixtures that are personal property. c) Temporary real property. d) Emblements. b) Trade fixtures that are personal property. Property can be converted from real to personal property and from personal property to real property by ...

allodial system (Ans- system of ownership in which land is owned completely, without an obligation of services or duties to another conventional life estate (Ans- a type of freehold life estate created by a deed or will that lasts for the duration of the tenant's life deed restriction (Ans- a provision in a deed that restricts the land use of a property defeasible fee estate (Ans- also known as fee simple defeasible or qualified fee, is a type of freehold estate in which the pe...