REAL ESTATE U FINAL EXAM || LATEST ACTUAL EXAM WITH COMPLETE 400 QUESTIONS AND VERIFIED ANSWERS

REAL ESTATE U FINAL EXAM || LATEST ACTUAL EXAM WITH COMPLETE 400 QUESTIONS AND VERIFIED ANSWERS Terms in this set (122) If a real estate salesperson violates Article 12-A of the Real Property Law, they shall be guilty of a/an Misdemeanor Someone in a position of great trust serves as a/an Fiduciary This type of agency is created when a principal does not stop an individual from representing his or her interests Agency by estoppel A licensee is guilty of what if they conceal a material fact from the prospective buyer Misrepresentation Everything that is not real property is considered Personal property Which of the following interests in real property offer the most complete form of ownership? Fee simple absolute estates A couple owns a property as a tenancy by the entirety. When one of the spouses passes away, the other spouse gains full ownership of the property. When the remaining spouse passes away, the children inherit the property. This is known as what type of interest in real property? Life estate This type of agency is created when a principal does not stop an individual from representing his or her interests? Agency by estoppel