What's the major difference between freehold estate and leasehold estate?
A. Have an ownership interest
B. Terminate upon the death of the person on
... [Show More] whose life they are based
C. Are estates of inheritance
D. Are estates for a fixed term - correct answer A. Have an ownership interest
What deed provide at LEAST protection
1 general warranty deed
2 quick claim deed
3 special warranty deed
4 bargain and sale deed - correct answer quickclaim
An agent noticed that the metes and bound was incorrect on a property, what did the agent do?
A. Nothing, because this is beyond their expertise.
B. Go down to the court house and correct it themselves because they are experts.
C. Call to have a survey done - correct answer C. Call to have a survey done
Which of the following is an example of a zoning variance?
A. A moderate violation of setback requirements is allowed so that an office building is built far enough from a high-pressure natural gas pipeline
B. A modest violation of Federal fair Housing laws is allowed as a means of controlling population density in a new suburban area
C. A developer is allowed to include the deed restriction that all lots in a subdivision contain a house of at least 3,000 square feet of living area
D. A developer is allowed to include the deed restriction that all lots in a subdivision must have a swimming pool built on themout
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Comment - correct answer A. A moderate violation of setback requirements is allowed so that an office building is built far enough from a high-pressure natural gas pipeline
A developer has a 100-acre tract to develop. 2% of the land will be used for recreational areas and 10% will be used for roads and utilities. Acre lots are selling for $32,000. What is the potential gross income from the sale of this development:
A. $2,860,000
B. $2,944,000
C. $3,200,000
D. $5,632,000 - correct answer
Which of the following differentiates a bilateral contract from a unilateral contract?
A Number of parties involved
B Performance obligations of the parties
C Relative value of the object of the contract
D Type of property specified in the contract
26 Answers
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Comment - correct answer B Performance obligations of the parties [Show Less]