Easements and covenants - Study guides, Class notes & Summaries

Which of the following would create legally binding acceptance of a written offer? -The seller's agent emails the buyer's agent that the seller signed the offer as written. A broker is preparing a comparative market analysis (CMA) for a subject property with 3200 square feet. A comparable property has 2750 square feet. The estimated value of 450 additional square feet is $22,500. The broker should... -Add $22,500 to the sales price of the comparable property. An option to purchase has bee...

PSI PA State Real Estate Practice Exam Questions and Answers 100% Pass Requires the seller to provide notice to a purchaser about whether a structure on the land is entitled to support from the underlying coal. Coal Notice Three conditions that must be met for a mobile home to be considered real estate 1. Mobile home is transferred in conjunction with and as a part of an assignment of a land lease or the transfer of an interest in land on which the mobile home is situated; or 2. Mobile home is...

Easements and Covenants Question and answers verified to pass 2024/2025 Easements and Covenants What is an Easement? - correct answer The right to use another's property for a specific use. Dominant vs. Servient Estates - correct answer Dominant - Land benefited by the easement Servient - Land burdened by the easement, easement runs through) Impertinent Easement - correct answer Any type of easement where the dominant estate is benefited by the servient estate. Can only be ...

California Real Estate Exam: Questions & Answers Latest Update 2023/2024 100% Verified. Reed vs. King Case (Ans- Must disclose death (and manner of death) on a property if occurs within 3 years, except AIDS Jones vs. Mayer Supreme Court Decision (1968) (Ans- Racial discrimination not allowed (whether selling or buying) in all PRIVATE property transactions (based on Civil Rights Act of 1968) Easton vs Strassburgar (Ans- Seller disclosures to third parties AND agent visual inspection of all...

Created to serve as a complete, comprehensive code regulating the construction of single-family, two-family and buildings consisting of three or more townhouse units. - Answer IRC (International Residential Code) Administrative - Answer First 2 chapters of code book are True - Answer Plans or supporting documents are almost always required by the controlling authority prior to issuing a permit. T or F Yes - Answer Does the building official have the authority to render interpretations o...

ad valorem - Answer- According to Value The basic responsibilities of an Appraiser to all taxable property. - Answer- 1. Discovery 2. Listing 3. Valuation The taxable location of personal property is referred to as its' - Answer- Situs The type of value usually estimated by an Appraiser is the - Answer- Market Value The effective tax rate reflects the ratio between what - Answer- The current tax bill and the property value Assessment level times the tax rate equals - Answer- Th...

Co ownership types: - - Condominium - Cooperative - Timeshare Land - may include more than the earth, may also include improvements to the land personal property - things that are movable & not permanently affixed to the land Ownership rights - Real estate provides people with this "bundle of rights" - Rights to: Use/Occupy Sell Lease Give away Do all or none "real property" vs. real estate security privacy location User markets - characterized by competition among users for ...

Classifying contracts: Express & Implied - Answer-Express: Bilateral, executed Intentions stated (orally or written) Implied: Unilateral, executory Inferred from conduct or actions Classifying contracts: Bilateral & Unilateral - Answer-Bilateral - two promises (both parties bound to do something) Unilateral - Only one party is bound Classifying Contracts: Executed & Executory - Answer-Executed - All tasks performed (After closing) Executory - tasks remaining to be done (befor...

commercial builder be bound by a residential-use restriction if - ANSWER (1) grantor had common scheme (2) unrestricted lot holders had notice (majority rule) reqs for burden of equitable servitude - ANSWER intent, notice, touch and concern render title unmarketable - ANSWER (1) defects in record chain of title (adverse posession) (2) encumbrances (mortgages, liens, easements, restrictive covenants) (3) zoning violations f the buyer of land determines that the seller's title is unmarke...