NYS Real Estate Salesperson Exam
Study online at https://quizlet.com/_9opt1
1. Appurtenance: Right that goes with real property ownership usually transferred with the property ("purper-
ty")
2. Deed of Trust: Greatest protection for grantee
3. Encumbered Property/Encumbered: Property with mortgage liens or other restrictions against it,
which prevent or restrict transfer
4. Defeasance: Rich uncle can pay off mortgage in full (Doug's Rich Uncle)
5. Estate At Sufferance: Lease ends but tenant doesn't move (so estate suffers)
6. Assumption: One party taking over responsibility for another party *blanket mortgage
7. Radon: Colorless, ordorless, tasteless, radioactive gas, which can enter homes
8. Co-op: Co-op can reject for financial reasons
9. NYS Human Rights Law: Protects marital status
10. Comps: Most similar to CMA
11. Building Specs: Verbal
12. Wire Electricity: Amps
13. Senior Mortgage: Supersedes other mortgages
14. Brown v Board of Ed: Separate but equal is unequal
15. CMA (Comparative Market Analysis): Considers expired listings and properties on the market
16. License Law: Not contained in Article 78
17. Not covered by Federal Fair Housing: Office Space
18. Regulation Z: Advertisers for consumer credit
19. Net Listing: Illegal
20. Valid Deed: Must be signed by grantor
21. Not a provision of Clean Air Act: CFCs never used
22. Real Estate Licensees: Legal to fail to obtain an accepted offer during lease term.
23. Agent: Seller hired by principal or client
24. Express Agency: Written Listing Agreement
25. RESPA: Disclosing Closing Costs (RESPA CC) HOD 1
26. Cross Easement: Party Wall or wall build on a common boundary of land
27. Arm's Length Transaction: Buyer & Seller are not related
28. Most common foundation: full basement
29. Exterior Elements: Envelope - Exterior/Envelope
30. Most important foundation building block: footing - foundation/footing
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Study online at https://quizlet.com/_9opt1
1. Appurtenance: Right that goes with real property ownership usually transferred with the property ("purper-
ty")
2. Deed of Trust: Greatest protection for grantee
3. Encumbered Property/Encumbered: Property with mortgage liens or other restrictions against it,
which prevent or restrict transfer
4. Defeasance: Rich uncle can pay off mortgage in full (Doug's Rich Uncle)
5. Estate At Sufferance: Lease ends but tenant doesn't move (so estate suffers)
6. Assumption: One party taking over responsibility for another party *blanket mortgage
7. Radon: Colorless, ordorless, tasteless, radioactive gas, which can enter homes
8. Co-op: Co-op can reject for financial reasons
9. NYS Human Rights Law: Protects marital status
10. Comps: Most similar to CMA
11. Building Specs: Verbal
12. Wire Electricity: Amps
13. Senior Mortgage: Supersedes other mortgages
14. Brown v Board of Ed: Separate but equal is unequal
15. CMA (Comparative Market Analysis): Considers expired listings and properties on the market
16. License Law: Not contained in Article 78
17. Not covered by Federal Fair Housing: Office Space
18. Regulation Z: Advertisers for consumer credit
19. Net Listing: Illegal
20. Valid Deed: Must be signed by grantor
21. Not a provision of Clean Air Act: CFCs never used
22. Real Estate Licensees: Legal to fail to obtain an accepted offer during lease term.
23. Agent: Seller hired by principal or client
24. Express Agency: Written Listing Agreement
25. RESPA: Disclosing Closing Costs (RESPA CC) HOD 1
26. Cross Easement: Party Wall or wall build on a common boundary of land
27. Arm's Length Transaction: Buyer & Seller are not related
28. Most common foundation: full basement
29. Exterior Elements: Envelope - Exterior/Envelope
30. Most important foundation building block: footing - foundation/footing
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