FREE CA Real Estate Sales Question and Answers
The term "tenancy" in real estate means:
Explanation:
The term "tenancy" refers to a way of retaining ownership.
Protective covenants that impose limitations on lot grantees in a new subdivision are likely to be found in the following:
Explanation:
In general, the original subdivider will establish a variety of safeguarding covenants for purchasers of properties inside the subdivision. Due to the fact that there are too many of them to specify in each deed, he will compile a comprehensive list and record it; this is referred to as the declaration of restrictions.
When determining the final estimate of value for an antique single-family home, all of the following would be relevant, with the exception of:
Explanation:
When using the cost technique on an older construction, the original cost has little to no bearing on value.
The estate of a joint tenancy
Explanation:
Because the joint tenants retain title as though they together comprise one person, it is a single estate. Joint tenancy could be used to hold both real and private property.
Over time, a wide variety of firms have emerged in the real estate assessment sector. The A.I.R.E.A. and the S.R.E.A. are two of them. Which of the following statements about these two organizations is accurate?
Explanation:
Regarding these professional organizations, each of the three options is a true statement.
A deed's restrictive covenant that forbids sales to people of a specific race will:
Explanation:
Racial discrimination clauses in deeds are no longer legal, unenforceable, and would have no bearing whatsoever.
Which of the following actions would turn Jackson's freehold property interest into a less-than-freehold property if he owns it?
Explanation:
Jackson is the title holder if the property is freehold. Any of the other options above will not result in the loss of his title to the estate; he still owns the freehold portion of it.
The method of discounting anticipated future rewards of ownership to a current value at a rate that is luring buy cash to comparable investments is known as:
Explanation:
The question's statement serves as a way to describe the income approach, which is used to determine the value of the income-producing property. Additionally known as the capitalization strategy.
When comparing the value estimates the appraiser has obtained using each of the three methods, the appraiser:
Explanation:
The appraiser weighs all the information while comparing the value estimations to determine if it is valuable or useless. He will use the crucial details and ignore the rest. It is not average in nature.
The next three real estate words are closely related. Which phrase is not a part of the group?
Explanation:
Liens include the concepts of judgment, attachment, and lien. An easement does not fall under this category because it is not a lien.
When a husband and wife own property jointly, the wife has the following legal rights:
Explanation:
Anyone who is a joint tenant of a property is not permitted to leave any portion of their interest to another person.