National Real Estate 100% SOLUTION

National Real Estate 100% SOLUTION Matt conveys a condominium to Cindy for the rest of her life. Upon Cindy's death, the property goes to Vicky. Vicky has an estate in A. remainder B. recession C. rescission D. reversion - ANSWER A. remainder An owner of property decides to sell his property. 30 years ago the subsurface mineral rights at the property were sold by a former owner. What would the current owner be selling? A. Subsurface, surface and air rights B. surface and air rights C. Surface rights only D. Air rights only - ANSWER B. surface and air rights which of the following are considered to be personal property? (Select all answers that apply) A. a lease agreement B. Garden statuary C. bathroom mirrors that did not come with the house originally D. refrigerator - ANSWER A. a lease agreement D. refrigerator An example of an emblement is A. corn or wheat B. cash C. jewelry D. Real property - ANSWER A. corn or wheat A property owner can sell the air rights above his property without having to actually sell his property A. true B. false - ANSWER A. true Which legal description begins and ends at the same place? A. Lot and block B. rectangular survey C. Government survey D. metes and bounds E. recorded plat map - ANSWER D. metes and bounds The legal description of property property that may use physical features of the property is A. Lot and block B. Plat map C. Government rectangular survey D. metes and bounds - ANSWER D. metes and bounds A buyer telephones a licensee about a house listed by the licensee. The buyer would like to view the property and arranges to meet the licensee at the listed property. Under the circumstances, which statement is true? A. The buyer shall be considered a client B. the licensee shall be considered a transaction broker C. the licensee shall be considered an agent D. the buyer has to sign an agreement with the agent creating an agency relationship - ANSWER B. the licensee shall be considered a transaction broker Which of the following would not be part of a metes and bounds legal description? A. Markers B. Point of beginning C. north, south, east and west directions D. base lines and meridians - ANSWER D. base lines and meridians Which legal description is best for describing a large parcel of land? A. Lot and block B. rectangular survey C. Government survey D. metes and bounds E. recorded plat map - ANSWER D. metes and bounds which of the following are considered to be real property? (Select all answers that apply) A. garage door opener B. basketball goal C. stereo speakers that are mounted on the wall D. anything growing naturally that does not require cultivation - ANSWER A. garage door opener B. basketball goal C. stereo speakers that are mounted on the wall D. anything growing naturally that does not require cultivation What is the distance from the curb or other established line within which no buildings may be erected A. property line B. construction line C. setback D. outline - ANSWER C. setback Which legal description of a tract of land includes the name of the state, name of the County, Township number, range number, section number, and portion of a section A. lot and block B. Government rectangular survey C. metes and bounds D. Recorded plat map - ANSWER B. Government rectan