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9 Cards in this Set
- Front
- Back
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Hunting permission/easement revoked with the death of land owner and refusal of new owner. |
New owner is correct in doing so because a license, not an easement, ceases on the death of either party. |
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Which of the following is not needed to make enforceable lease agreement? |
Need type and amount of consideration Need adequate description of property Need mutual agreement of parties Do NOT need rental pymts to be made in advance. |
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Owner owes for motorcycle repairs. Mechanic files a lis pendens to... |
Give the constructive notice of a possible future judgement lien in favor of the mechanic on the owners house. Lis pendens= notice of possible future judgement. |
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What is true of the relationship between a judgement lien and a mortgage? |
The judgement lien has no real properties pledged as a security when the debt is created, the mortgage has at least one at that time. |
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Acting as an agent for seller baird, broker carr negotiated the sale of bairds real property. If agreed upon, broker carrs commisssion can be paid in all of the following forms EXCEPT... |
Rate set by the MREC. Can have an assignmwnt by seller of the firat moneys due her from the buyer on a mortgage note. An assignment of a note. Or A personal note from the buyer. |
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Buyer submitted offer with a deposit, seller accepted after time period stipulated in the offer, the buyer may do what? |
Ask that the deposit be returned. |
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Which of the following statements about a salespersons rights and obligations when dealing with listing contracts is not true? |
Must sign contract. Not true. The sales person doesn't have to sign the contract. |
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Buyer submits offer, shortly after needs earnest money back, what is true? |
They have to wothdraw before the seller accepts the offer. |
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For the purchase of a home the buyer is acquiring a first mortgage loan guaranteed by the VA. Because of the RESPA which costs need not be listed on the settleme t form used by the buyers broker. |
Fee or commission pqid to a salesperson. |
