Emily Landon

Helping real estate professionals sharpen their skills through knowledge and training.

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15
Apr
0

Real Estate Practice Exams on Licenses

Posted by on in Valuation & Market Analysis
A brief but informative question from the Real Estate Practice Exams over Licenses.   If Bob grants his neighbor Sue to use his pond for swimming for one day, Bob has issue what to Sue? A) LICENSE B) LIEN   C) EASEMENT D) APPROPRIATIVE RIGHTS           The permission that Bob gave to Sue to use the land/pond for a day is a license, which is revocable by the grantor at any time. An easement is the right to use another's land without possessing it.... Continue reading
10
Apr
0

Real Estate Option Contracts

Posted by on in Contracts
Option Contracts Questions From the Real Estate Agent Test   Before an option is exercised, the contract with this option is defined as a ______________ contract? A) UNILATERAL B) FULLY EXECUTED C) MULTI-LATERAL D) BILATERAL         Because the optionee has the right not to exercise the option, the contract would be deemed a unilateral contract, once the option is exercised, the contract is deemed to be bilateral.... Continue reading
01
Apr
0

Transfer a property from one individual to another?

Posted by on in Transfer of Property
What is used to transfer a property from one individual to another? 1) BILL OF SALE        2) DEED      3) RIPARIAN RIGHTS               4) FIXTURE AGREEMENT      The bill of sale is the legal document that will actually transfer the property from the old owner to the new owner. A new bill of sale is required every time the property is sold, and the deed stays with the land. Riparian – or Riparian Rights are rights associated with water. For example if there are six separate properties surround a lake, all property owners have equal... Continue reading
01
Apr
0

Property Ownership / The Real Estate Exam

Posted by on in Property Ownership
Property Ownership questions on the Real Estate Exam Andrew and Kelly both have equal ownership of a property.  Upon Andrew's death, he has instructed that his portion of the property rights be given to an heir.  Kelly wants full ownership of the property upon Andrew's death and intends to seek legal action.  Kelly's attorney tells Kelly that she will likely be unsuccessful in gaining full property ownership.  The type of ownership described is:   1) TENANCY IN COMMON   2) JOINT TENANCY 3) TENANCY IN SEVERALTY 4) TENANCY BY ENTIRETIES   Tenancy in common is best described as two or... Continue reading
01
Apr
0

Types of Property Ownership

Posted by on in Property Ownership
Types of Property Ownership   Andrew and Kelly both have equal ownership of a property.  Upon Andrew's death, he has instructed that his portion of the property rights be given to an heir.  Kelly wants full ownership of the property upon Andrew's death and intends to seek legal action.  Kelly's attorney tells Kelly that she will likely be unsuccessful in gaining full property ownership.  The type of ownership described is:   1) TENANCY IN COMMON   2) JOINT TENANCY 3) TENANCY IN SEVERALTY 4) TENANCY BY ENTIRETIES   Tenancy in common is best described as two or more tenants owning... Continue reading

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