Real Estate Exam Questions and Answers 100% Correct

Real Estate Exam Questions and Answers 100% Correct Which of the following are required of deeds to be enforceable - Answer- Grantors signature Personal property could be - Answer- Emblements Real property is - Answer- Transferred by a deed What is it called when the government gives a parcel of real property back to a private citizen - Answer- Vacation A chain of title - Answer- Lists all the grantors and grantees since the beginning A grantor is - Answer- Person transferring real property Consideration is - Answer- Money or valuables Emblements are - Answer- Regarded as personal property A fixture is - Answer- One's personal property, now attached, becomes real property Dower and curtsy are - Answer- Freehold Estates -life-legal A legal way to own real property would be - Answer- Freehold or leasehold A piece of Nevada real property sold for $125,500 and the rate of commission was 6%. If the sales person received $2,000,484. 90, what percentage of the 6% commission was he paid? - Answer- 33 If a person dies intestate and has no heirs, the real property reverts to the state. This is called - Answer- Escheat In taking title by tenant in the entirety all parties must be - Answer- Married A trust - Answer- Between the trustee and beneficiary ️A syndication is - Answer- Joint participants in real estate investment and may involve the joining of assets What is a non-negotiable security instrument on real property called - Answer- Mortgage/trust deed Which of the following is issued by a trustee that states the loan is paid in full and gives all the rights and privileges back to the former trustor - Answer- Deed of reconveyance Alienation is a clause in real estate security agreement of follows for - Answer- Balance of death becomes immediately due and payable if real property was sold only Which of the following best describes a vendor - Answer- May be the seller Which of the following is an objective that property manager should meet - Answer- All of the above An appurtenance - Answer- Attaches to land Which of the following legal descriptions would you likely used to buy farmland - Answer- Rectangular survey John by 4 acres of Nevada real property in July of last year. After six months of ownership John elected to divide his property into two equal parts. How many square feet exist in either of the two new Parcells - Answer- One acre is 43,560. Multiply that by 4= 174,240 then divide by 2= 87,120 All liens are - Answer- ALil of the above ️ Laches are - Answer- The loss of legal rights due to failure to asse