Use LEFT and RIGHT arrow keys to navigate between flashcards;
Use UP and DOWN arrow keys to flip the card;
H to show hint;
A reads text to speech;
47 Cards in this Set
- Front
- Back
|
One who owns a life estate cannot |
Devise his interest |
|
|
Governmental land use planning & zoning are examples of |
Use of police power |
|
|
Real property |
The land, the improvements, & the bundle of rights |
|
|
An abstract of title contains |
Summary of a title search |
|
|
In order to reach the beach, the smiths have a permanent right of way across their neighbors property. The smiths own what? |
An easement |
|
|
A corporation usually owns property in |
Tenancy in severalty |
|
|
Littoral rights for properties abutting the ocean give ownership |
To the mean high water mark |
|
|
If one dies, the other owner becomes the full owner, the deed must state that they are |
Joint tenants |
|
|
A life estate pur autre vie is one in which |
The duration of the life estate is based upon the duration of the life of someone other than the life tenant |
|
|
Adverse possession may establish |
A claim to title |
|
|
50ft of land was added to Apples farm because the river changed its course. This is: |
Accretion |
|
|
50ft of beachfront land was removed by a flood, this is an example of |
Avulsion |
|
|
As used in real estate practices, the land of a riparian owner borders on |
A body of water |
|
|
Few simple estate is a |
A freehold estate |
|
|
Two people who own undivided interest in the same realty, with right of survivorship, have: |
Joint tenancy |
|
|
A freehold estate is |
An estate of uncertain duration |
|
|
Net listing |
Brokers commission is the amount by which the sale price exceeds the agreed upon net price the seller decides |
|
|
Special agent AIS one whose |
Powers are limited to certain specific functions |
|
|
The money for making FHA loans is provided by |
Qualified lending institutions |
|
|
Tenancy in severalty refers to |
Ownership by 1 person |
|
|
A broker must keep earnest money deposits in |
An escrow or trust account |
|
|
Eminent domain |
The right of the government to take private property for public use |
|
|
A conventional mortgage is |
Not guaranteed by a government agency |
|
|
Not required to have a real estate license |
Resident manager of an apartment project |
|
|
The part of conveyance that defines or limits the quantity of the estate granted is |
Habendum |
|
|
Statute of frauds |
Requires certain contracts to be in writing to be enforceable |
|
|
A warranty deed protects the grantee against a loss by |
Defective title |
|
|
Second mortgage is |
A Lien on real estate that has a prior mortgage on it |
|
|
One discount point is equal to |
1% of the loan amount |
|
|
Regulation Z covers |
Real estate credit transactions |
|
|
An easement in gross |
Extends to one person only |
|
|
An estoppel certificate is required when |
Mortgage is sold to an investor |
|
|
FHA loans are |
Insured loans |
|
|
VA loans are |
Guaranteed loans |
|
|
Contracts made by a minor are |
Voidable only by the minor |
|
|
This deed creates the least liability |
Quitclaim |
|
|
Lending of money at a rate of interest above the legal rate is |
Usury |
|
|
Most comprehensive ownership of land at law is know as |
Fee simple |
|
|
A person owning an undivided interest in land with at least one other & having the right of survivorship is |
Joint tenant |
|
|
Number of square feet in 1 acre |
43,560 |
|
|
When changed surroundings cause an existing house to lose value, there is |
Economic obsolescence |
|
|
An estate at will is |
A tenancy of uncertain duration |
|
|
A quitclaim deed conveys only the interest of the: |
Grantor |
|
|
The safest kind of deed that can be received is a: |
General warranty deed |
|
|
A freehold estate is |
An estate of uncertain duration |
|
|
An ARM is |
An adjustable rate mortgage |
|
|
A person who receives title to land by virtue of having used & occupied it for a certain period of time, without actually paying the previous owner, receives title by: |
Adverse possession |
