| General Info… you should know | Vesting info… you should know | Appraisal info… you hopefully know | Random stuff I hope you know!!! | You need to know this stuff! |
|---|---|---|---|---|
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What is the right to own, possess, use, enjoy, borrow against, and dispose of real property.
Name 3/5 of the Bundle of Rights.
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What is the evidence that the owner of land is in lawful possession?
Title is…
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What is value?
The worth is the present and future anticipated enjoyment or profit from the ownership of property.
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What is the lead year?!?
1978
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What is a listing agreement?
A promise for a promise, bilateral contract, and an employment contract are examples of…
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What is personal property?
A couch is an example of..
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What is tenancy in common?
When two or more persons, whose interests are not necessarily equal, are owners of undivided interests in a single estate.
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What is a comparative market analysis?
A tool that real estate agents use to estimate the value of a specific property by evaluating similar ones that have recently sold in the same area.
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What is partially amortized and is a large lump-sum payment that is required to pay off the loan in full?
Explain a balloon payment.
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What is your brokers birthday?!?
September 7th
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What is an estate with a fixed or determinable duration?
A nonfreehold estate is…
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What is joint tenancy?
When two or more parties own real property as co-owners, with the right of survivorship.
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What is an appraisal?
An act or process of developing an opinion of value.
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What is VOIDABLE?
Broker Carter sold a home for a young seller and did not consider the seller's age. After the deed had been signed and the property conveyed, the title company informed the broker that the grantor was not yet 18 years old. Based on this information, the grant deed would be…
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What is ABSOLUTELY NOT? We don’t do shady at One Way LOL
Is it okay to keep quiet on the fact that your seller has plumbing issues but is telling buyers that the plumbing is new?
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What is real property?
A ceiling fan is an example of…
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What is the right of survivorship?
If one of the joint tenants dies, the surviving joint tenant automatically becomes sole owner of the property.
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What is depreciation?
Loss in value from any cause
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What is a stud?
The vertical framing member in a building's wall of smaller cross section than a post.
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What is a lease?
An estate for years and is classified as a less-than-freehold estate.
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What is an estate with indefinite duration or that is measured by the length of someone’s life?
A freehold estate is…
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What is a partition action?
When tenants in common do not agree on matters pertaining to the property, any of the co-owners may file a…
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What is appreciation?
The opposite of depreciation, or an increase in value, usually as a result of inflation or some special supply and demand force relating to that specific property.
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What is an encumbrance?
A fracking deed restriction is also known as…
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What is a stove, clothing hanger, etc?
Give me an example of a trade fixture.
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