PSI NJ Real Estate Exam, PSI Practice Test.

PSI NJ Real Estate Exam, PSI Practice Test. Water Rights The terms "littoral," "riparian," and "appropriative" refer to A salesperson lists a property with a contract that allows for subagency and dual agency. The salesperson is an agent to the broker and a subagent to the principal. Depreciation is calculated based on the Cost of the building only. When a property owner uses his home as collateral for a loan and creates a lien in favor of the lender, title is held by the Mortgagor A competitive market analysis is MOST often used for setting a listing price A seller tells the listing agent that her home was treated for termites 10 years ago, so there are no termites now. Before listing the property, the agent should tell the seller not to disclose, because the statute of limitations has run out.