Conversion - answers(or misappropriation) is the intentional, illegal use of the property or funds of
another person for one's own use or other unauthorized purpose.
Partition suit - answersThe dividing of real estate held by two or more people which results in each
of the parties holding individual or severalty ownership. (Tenants in common and joint tenants)
Company Dollar - answersThe amount a broker has left after all commissions have been paid.
Adverse Possession - answers"Squatters" when some occupies the property for more then 5 years
and pays the property taxes. The house becomes there's
quiet title action - answersA court action to determine the actual ownership of real property.
Actual Notice vs Constructive Notice - answersActually notice is being informed directly or
something (a person directly tells you about the sign, what it says, and I've seen you read it)
Constructive you weren't informed directly.. you should know if you do your due diligence. (sign on a
wall that you walk pass at a parking lot)
Insurance for a mortgage loan may be provided by: - answersFHA or private mortgage insurer
Narrative Report (Self contained report) - answersThe most comprehensive and complete appraisal
report
When property is appraised as part of the loan application process, a copy of the appraisal: -
answersMust be provided to the borrower.
The owner of a unit in a cooperative receives a - answersproprietary lease to the unit.
Tenancy by the Entirety - answersa form of joint ownership with the right of survivorship.
(Community property does not have right of survivorship)
Statutes of limitations vs statutes of Frauds - answersStatutes of limitations is a "time" iss
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How old do citizens have to be to vote for President? - answers18 What are two ways that Americans can participate in their democracy? - answers-vote -join a political party -help with a campaign -join a civic group -join a community group -give an elect...
Which structure found in the US Constitution was included as a response to concerns expressed in the Declaration of Independence - answersseperation of powers Why the first two paragraphs of the Declaration of Independence called - answerspreamble Which ri...
Two sets of solid, double, yellow lines spaced two or more feet apart indicate: - answersa barrier On a road with three or more lanes traveling in the same direction, stay in the _________ lanes, except to pass. - answersright The distance a vehicle travel...
A sales associate is a _________ of the brokers's principal. - answersSubAgent Before showing a property, allowing a buyer to sign an offer to buy or seller to sign a leasing agreement, a licensee must provide the party with a written ________ _________ ___...
Any driver under 21 years of age who is stopped by law enforcement officer and found to have a breath or blood alcohol level of .2 or higher will, at the time of arrest: - answersHave their driving privilege suspended for six months. Riders of bicycles an...
50.00 - answersA Tenant in an apartment complex may receive up to _______ for referral of a new tenant for the same complex. Post License - answers_________ __________ Education must be completed during the initial sales associates license period. Power ...
In property taxes who is the debit and credit? - answersFlorida pays in arrears which it the opposite of advance. If taxes are prepaid (paid in advance) then the sell is credit and the buyer is debit but if the taxes are in arrears sellers a debit. Assign...