Life estates - Study guides, Class notes & Summaries

Rob has a last-minute business trip coming up, and he'll need a hotel that can offer plenty of space to get work done when he isn't on-site visiting a client. Which of the following brands would BEST suit his needs? - Edition One of your clients wants to visit a property with incredible guest rooms and amenities. She also wants to get some great exposure to the "hidden gems" in the city, and a hotel that would provide a tour would be a perfect fit. Which of the following brands would you re...

"A" and "B" bought a house as tenants in common. If "A" dies which of the following statements about ownership of the house is correct? A) It automatically becomes tenancy in severalty. B) It is divided, with B retaining their original interest and the balance going to A's estate. C) B holds fee simple ownership to A's share of the property D) B holds a life estate ownership to A's share of the property - CORRECT ANSWER-B) It is divided, with B retaining their original interest and the...

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...

Test Bank for Business Law and the Legal Environment Version 3.0 by Don Mayer, Daniel Warner, George Siedel, and Jethro K. Lieberman. Full Chapters test bank are included - Chapter 1 to 53 Chapter 1: Introduction to Law and Legal Systems 1.1 What Is Law? 1.2 Schools of Legal Thought 1.3 Basic Concepts and Categories of U.S. Law 1.4 Who Makes the Law 1.5 Legal and Political Systems of the World 1.6 A Sample Case 1.7 Summary and Exercises Chapter 2: Introduction to Corporate Social Resp...

Brokerage The business of bringing people together in a real estate transaction. Type of Real Property - Special Purpose Cemeteries Real Property Real estate, plus the interests, benefits, and rights inherent in the ownership of real estate Bundle of Rights Possession, control, enjoyment, exclusion, disposition Ownership of real property is often described as a bundle of legal rights Littoral Rights Granted to owners whose land borders commercially navigable waters Where is the...

Key Realty Exam Questions + Answers 100% Solved What is the smallest saleable portion of a Nevada subdivision called: - Answer- Unit Which of the following are required of deeds to be enforceable: - Answer- must have the grantors signature Personal property could be: - Answer- emblements: aka crops Real property is: - Answer- transferred by deed What is it called when the government gives a parcel of real property back to a private citizen: - Answer- Cloud? A chain of title: - Answer- Li...

Which of the following is NOT exempt from obtaining a license? - correct answer A licensed attorney acting as a sponsor to a real estate salesperson A real estate salespersons license must be renewed every .........years. - correct answer 2 A real estate salesperson operates as what type of agent to their client? - correct answer Special Agent According to this, a broker may be held responsible for the unlawful actions of his/her salespersons? - correct answer Vicarious Liabilit...

CA DRE Salesperson Exam Questions and Answers (Latest Update 2024/2025) Verified Answers. What is the most complete, largest type of estate that includes all rights associated with the estate? - correct answers An estate in fee simple absolute What type of estate do you own if someone grants you real property for you to own only during your lifetime? When you die, the property reverts back to original estate owner. - correct answers a life estate The rights of tenants who rent or lease pro...

CA DRE Salesperson Exam Questions and Answers (Latest Update 2024/2025) Verified Answers. What are the two types of freehold estates? - correct answers 1) an estate in fee (simple absolute) 2) a life estate. What is the most complete, largest type of estate that includes all rights associated with the estate? - correct answers An estate in fee simple absolute What type of estate do you own if someone grants you real property for you to own only during your lifetime? When you die, the pro...