A seller-sub agent owes fiduciary duties to:
a. The buyer
b. The seller
c. The primary agent
d. All parties to the transaction
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b. The seller
,18. Ownership interests in land are called:
a. Freehold estates.
b. Leasehold estates.
c. Remainders or reversions.
d. Determinable estates.
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a. Freehold estates.
Most residential real estate transactions are financed through the use of a:
a. Promissory note and mortgage deed
b. Banker's option
c. Bond for a deed
d. Wrap around mortgage
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a. Promissory note and mortgage deed
27. A seller of a property with a septic system in a shoreland zone must provide the
buyer with a certificate whether the system has failed within days prior to closing.
a. 90.
b. 120.
c. 180.
d. 365.
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, c. 180.
23. Norman Conquest's primary residence is an apartment in which he has a fee
simple absolute interest. He probably is
living in a (an):
a. Timeshare.
b. Cooperative apartment complex.
c. Condominium.
d. Probate estate.
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c. Condominium.
A quitclaim deed with covenants provides guarantees about the title to real estate to
the buyer for:
a. The period of his/her ownership
b. The 40 years prior to the date of sale
c. Him/herself and all prior owners in the chain of title
d. No warranties from the grantor
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a. The period of his/her ownership
1. An adequate legal description of real estate is one:
a. By which a reasonable person can determine what property is described.
b. That includes fixtures but excludes personal property.
, c. That features the improvements.
d. Suitable for use in advertising the property for sale by an agent.
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a. By which a reasonable person can determine what property is
described.
By conveying real estate with a warranty deed, the grantor is guaranteeing the quality
of the title for:
a. The period of his/her ownership
b. The 40 years prior to the date of sale
c. Him/herself and all prior owners in the chain of title
d. The title insurance company
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c. Him/herself and all prior owners in the chain of title
To have a binding contract, there must be:
a. A meeting of the minds of the parties
b. Earnest money
c. A financing contingency
d. All of the above
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a. A meeting of the minds of the parties
a. The buyer
b. The seller
c. The primary agent
d. All parties to the transaction
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b. The seller
,18. Ownership interests in land are called:
a. Freehold estates.
b. Leasehold estates.
c. Remainders or reversions.
d. Determinable estates.
Give this one a try later!
a. Freehold estates.
Most residential real estate transactions are financed through the use of a:
a. Promissory note and mortgage deed
b. Banker's option
c. Bond for a deed
d. Wrap around mortgage
Give this one a try later!
a. Promissory note and mortgage deed
27. A seller of a property with a septic system in a shoreland zone must provide the
buyer with a certificate whether the system has failed within days prior to closing.
a. 90.
b. 120.
c. 180.
d. 365.
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, c. 180.
23. Norman Conquest's primary residence is an apartment in which he has a fee
simple absolute interest. He probably is
living in a (an):
a. Timeshare.
b. Cooperative apartment complex.
c. Condominium.
d. Probate estate.
Give this one a try later!
c. Condominium.
A quitclaim deed with covenants provides guarantees about the title to real estate to
the buyer for:
a. The period of his/her ownership
b. The 40 years prior to the date of sale
c. Him/herself and all prior owners in the chain of title
d. No warranties from the grantor
Give this one a try later!
a. The period of his/her ownership
1. An adequate legal description of real estate is one:
a. By which a reasonable person can determine what property is described.
b. That includes fixtures but excludes personal property.
, c. That features the improvements.
d. Suitable for use in advertising the property for sale by an agent.
Give this one a try later!
a. By which a reasonable person can determine what property is
described.
By conveying real estate with a warranty deed, the grantor is guaranteeing the quality
of the title for:
a. The period of his/her ownership
b. The 40 years prior to the date of sale
c. Him/herself and all prior owners in the chain of title
d. The title insurance company
Give this one a try later!
c. Him/herself and all prior owners in the chain of title
To have a binding contract, there must be:
a. A meeting of the minds of the parties
b. Earnest money
c. A financing contingency
d. All of the above
Give this one a try later!
a. A meeting of the minds of the parties
