The principal is always the one whom you have an agency relationship with and therefore is the person whom you owe fiduciary responsibility. In Kentucky, there are 130 questions on the exam (80 national and 50 state). The interest rate decreases not the down payment. Legal policy mandates that a deed to real property be a matter of public record; therefore, subsequent to delivery and acceptance, a deed must be property recorded. The good news is that there are a lot of tools out there to help with passing the real estate exam. Security interest in the title to property for the benefit of those who have supplied labor or materials to improve the property. Now that I'm about to finish the course and take the practice exam i was reading the section named "it's time to prepare for your exam" and it says at the very end "A final note. A mortage loan with the interest rate on the note periodically adjusted based on an index which reflects the cost to the lender of borrowing on the credit markets. - An accounting report issued periodically by the property manager to the owner outlining all income and expenditures for that accounting period. ILLEGAL. What is the biggest difference between private and public land use controls? This practice is illegal. Also called excess insurance. Which of the following fiduciary duties continues after a listing agreement expires? payable. The length of the real estate exam varies from about 1.5 hours to 3.5 hours again, based on the state youre in. Again, it varies per state, so check out our state requirements page for more detailed information. Clauses protect the property owner against increases during the lease term. A legal proceeding by a lessor landlord to recover possession of real property. Intangible Deterioration. - Agent may be liable for costly mistakes. Lenders will, however, look to see if you're delinquent on any federal debt. A material used in pipes and paint of many older homes. Easement - An appraisal technique whereby the value of an income producing property is estimating by capitalizing its net operating income using an appropriate capitalization rate. Homeowners should be alert for friable asbestos and always seek professional advice in dealing with it. Taking private property for public use, with fair compensation to the owner; exercising the right of eminent domain. In this situation, the new offer cannot be accepted unless the seller's counteroffer is withdrawn or hypothetically rejected. Homeowners should be alert for friable asbestos and always seek professional advice in dealing with it. Here are the general real estate license requirements that apply to all: For specifics look at our full guide on Real Estate License Requirements by State. That section can be used to study the topics featured . If you are new to all of this, dont worry, we gotcha covered. Drawings produced by Architects that describe the quantities of a. Both terms pertain to spouses. I have colleagues that worked for commissions on internships doing door to door pesticide sales - that is scraps. As a general rule of thumb ALL written offers must be: As a general rule of thumb all written offers must be presented to the seller. Remember, were all in this together. A chronic lung disease caused by inhaling asbestos fibers. If your state allows commingling, and you misappropriate the funds, that's conversion. Joists, beams, and roofs are typically supported by bearing walls. Valuation method which compares a subject property's characteristics with those of comparable properties which have recently sold in similar transactions. Primary mortgage market is lending institution where mortgage originates. Remember DUST and your essential elements of value. The means or medium by which title of real estate is transferred. Cash received in a tax-deferred exchange. A person that provides services to another under. Which of the following BEST describes a contract that is voidable? They also come packaged with lower interest rates so if you qualify VA loans are the way to go. Device used in electrical systems to protect against excessive current. Demand: This means the desire to buy and an ability to pay. An easement in gross is basically selling rights to the land to another person, but without giving them legal ownership. A horizontal structural member that supports a floor. - An employment contract between principal and agent, authorizing the, - A card issued by the Department of State to each licensee which contains the, - A person who on behalf of or for the benefit of another transacts business or. Value = Income / Rate. Cash received in a tax-deferred exchange. Break down lot into shapes, and add the areas of each together! The idea is that when a community is organized, it is more attractive, safer and has fewer conflicts among people. A fixture is any physical property that is permanently attached to real property. A clause in a contract that states a mortgage must be obtained in order for the contract to be binding. Remember, community property and tenants by the entirety is through marriage. The amount of expenses that must be paid out of pocket before an insurer will pay any expenses. This is a bit of a trick question. Common forms of consideration include money, property in exchange, work or a promise to perform. The developer or owner organizing and offering for sale a condominium or cooperative development. A chronic lung disease caused by inhaling asbestos fibers. - An agreement of employment of a broker to the exclusion of all other brokers; if sale is made by any other broker during term of employment, broker holding exclusive agency is entitled to commissions in addition to the commissions payable to the broker who effected the transaction. The fee simple estate has unlimited duration and can be passed on to heirs. A contract agreed to and signed under duress is what? By far, the most substantial chunk of the real estate license exam is the vocabulary. The five most popular types of businesses are Sole Proprietorship, General Partnership, Limited Partnership, Corporation, and Limited Liability Company (LLC). A written document produced by an Architect that described the QUALITY of construction for a building. A document commonly used in real estate transactions, detailing the fees, commissions, insurance, etc., that must be transacted for a successful transfer of ownership to take place. Someone authorized to transact every kind of business for the principal. In lien theory states: The correct statement is: In title theory states, banks or mortgage lenders hold the title of a property until it is paid in full. 1. It is the _____ duty to explain the purchase agreement and to not mislead any parties. A person whose principal business is the originating, financing, closing, selling and servicing of loans secured by the real property for institutional lenders on a contractual basis is referred to as a? Any right to or interest in the land interfering with its use or transfer, or subjecting it to an obligation. - An accounting statement that forecasts income and expenses for a period of time, typically five or more years. A right to cross or otherwise use someone else's property for a specified purpose. Real Estate Part 2 Chapter Quiz Q/A Green-Correct CHAPTER 3 1. The refusal to lend money within a specific area for various reasons. Which of the following would be classified as consideration in a real estate contract? A leasehold estate for any specific period of time. Most probable price that a property should bring if exposed for sale in the open market for a reasonable period of time, with both buyer and seller aware of current market conditions, neither being under duress. Jelly Co. processes jam and sells it to the public. Eurocredits; eurodollar. The cost approach becomes nearly ineffective after 25 years or so because of the difficulty in: estimating depreciation, estimating changes in the cost of construction, and estimating changes in prices of building materials. A key document provided during the purchase of a cooperative, which includes information required to be disclosed to the purchaser. CMA is NOT an appraisal. When a property owner has been innocent of all involvement with a hazardous waste site, under certain circumstances, he may claim immunity from responsibility. An amount of money set aside by the owner for a specific period for the property manager to manage the property effectively. A federal prohibition that protects buyer/renter of a dwelling from. Responsible for developing and controlling a municipality's comprehensive strategy for growth and development. Insurance policy that covers amounts above those covered under one or more other primary policies, and which does not pay until the losses exceed a certain sum. Obtained after your register for the New York State. The real estate exam is a rigorous and challenging test that weeds out those who are not committed to being skilled agents. A person who on behalf of or for the benefit of another transacts business or handles money or property not the person's own; such relationship implies great confidence and trust. A material used in pipes and paint of many older homes. Fee simple absolute is the greatest interest in a parcel of land that one can possibly own. Before I took the real estate express final exam I re-read every chapter summary and I quizzed myself on all the "check your understanding" questions. It generally has to do with performance. - A valuation placed upon property by a public officer or a board, as a basis for taxation. 200 cards Real Estate Real Estate Principles Practice all cards The set of rights enjoyed by the owner of real property are commonly referred to as the? He needs an easement for ingress and egress over Ron's property to be able to enter and exit the property. If supply rises more than demand, we get a decrease in price. A profit that results from the sale of a property where the amount realized from the sale exceeds the purchase price. Duress is the unlawful constraint or action exercised upon a person whereby the person is forced to perform an act against his or her will. Under a lease for a commercial property, a tenant agrees to pay $3,000 per month plus 4% of the gross monthly sales. Someone authorized to transact every kind of business for the principal. If a contract has a contingency it's voidable. - An intermediary who brings mortgage borrowers and mortgage lenders together, but does not use its own funds to originate mortgages. - The right of a property owner whose land borders on a body of water, such as a lake, ocean or sea, to reasonable use and enjoyment of the shore and water the property borders on. The statute of frauds is a common law concept that requires written contracts for certain agreements to be legally binding. Considered real property, which is conveyed by a deed. Confidentiality requires that you do not disclose any information learned about your clients, their business, financial or personal affairs or motivations. Most real estate sales contracts include contingency clauses, making them what? CCRs limit the use of a particular property, a condominium, or a subdivision. The lease does not transfer title, does not contain a bargain purchase option, and the equipment is not of a specialized nature. Gross Rent Multiplier is the ratio of the price of a real estate investment to its annual rental income before accounting for expenses such as property taxes, insurance, and utilities. Crash courses are a fantastic way to study for the real estate exam. - The employer of an agent or broker; the broker's or agent's client. - Legal agreement by which a bank lends money in exchange for taking title of the debtor's property, with the condition that the conveyance of title becomes void upon payment of the debt. 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Enacted in 1974, which of the following is a regulation that aims to give all legal individuals an equal opportunity to apply for loans? An employment contract between principal and agent, authorizing the agent to perform services for the principle involving the latter's property. An agreement between members of a trade to refrain from competition in specific market areas. You can't have that form of ownership with two unmarried individuals. *Primarily interpreted to prohibit racial discrimination. Oversees and upholds the quality and aesthetics of a neighborhood, town, or city. This act protects consumers from being wrongfully discriminated. A key document provided during the purchase of a cooperative, which includes information required to be disclosed to the purchaser. Fee simple absolute or (fee simple for short) is an estate in land. The real estate exam is mainly multiple-choice and is a mix of problem-solving, math, and vocabulary. Test the null hypothesis $H_0: \mu_d \geq 110$ versus $H_a: \mu_d<110$ by setting $\alpha$ equal to $.05$ and $.01$. Riparian literally means "riverbank". U.S. Federal law designated to promote the informed use of consumer credit, by requiring disclosures about its terms and cost to standardize the manner in which costs associated with borrowing are calculated and disclosed. It is also the same study guide in the quizlet link: https://quizlet.com/602634854/realestateu-final-exam-flash-cards/ The study guide is basically all the definitions you need to pass the course exam, NOT the NYS Exam. The ability to have cash readily available to support the demands of running and maintaining real property. Percentage of a consumer's monthly gross income that goes towards paying debts. Bounds: directions from one point to another. Government power is the constitutional authority and inherent power of a state to adopt and enforce laws and regulations to promote and support the public health, safety, morals, and general welfare. Homeowners insurance is property insurance that covers losses and damages. - A crime punishable by up to a year in prison and/or a $1,000 fine. - Federal law designed to control air pollution on a national level. Have a question about the real estate exam? Equal Credit Opportunity Act (ECOA) is a regulation that aims to give all legal individuals an equal opportunity to apply for loans. A method of estimating the value of real property by calculating a current construction cost, subtracting accrued depreciation and adding a land value obtained from the market. Click the card to flip Flashcards Learn Test Match Created by Terms in this set (157) *Write the resulting set using the listing method. Property evaluation that determines property value by comparing similar properties sold within the last year. Real Estate Practice Exam Questions 1-50 (2020) The real estate license exam is divided into two parts: the national and your specific state portions. The time is of the essence contract clause in real estate contracts generally has to do with what? Lease of property in which rental is based upon percentage of the volume of sales made upon the leased premises, usually provides for minimal rent. - The market where mortgage loans and servicing rights are bought and sold between mortgage originators, mortgage aggregators (securitizers) and investors. Richard is renting property from Becky. Legal agreement by which a bank lends money in exchange for taking title of the debtor's property, with the condition that the conveyance of title becomes void upon payment of the debt. The safety valves for electrical systems. What is the first step the seller should make? must bring when take the NYS exam Misdemeanor crime punishable by up to one year in jail, a fine of less than $1,000, or both Listing Agent Some but not all states require proof of errors and omissions insurance. The right of a property owner whose land borders on a body of water, such as a lake, ocean or sea, to reasonable use and enjoyment of the shore and water the property borders on. For example, they can't implement zoning code to raise what people pay for properties, they can, however, implement zoning codes to help promote the local economy. It is an agent's duty to explain to purchase agreement and not mislead both or either parties. The type of easement that is a right-of-way for a utility company's power lines is what? - The premise that the ownership of real estate consists of the ownership of various rights associated with it. - The process by which a loan principal decreases over the life of a loan. Interpreter of the zoning ordinance. (c) Dividends. For help with the national portion we have our real estate license quiz. The right of any political body to enact laws and enforce them, for the order, safety, health, morals and general welfare of the public. Per 16 CFR 310.2. In preparing for variable expenses in a property management budget, the property manager should set up a what? The ADA is a civil rights law that prohibits discrimination against individuals with disabilities in all areas of public life, including jobs, schools, transportation, and all public and private places that are open to the general public. Many states require a background check or submission of fingerprints. The right of a property owner whose land borders a natural water course, such as a river, to reasonable use and enjoyment of the water that flows past the property. Since the question says may be valid it is voidable. Also called excess insurance. Disclosure Regarding Real Estate Agency Relationships Form. The house is sold for $250,000. It depends on which course you took, If you took the RealEstateU 75-hour course then it should be at the end of your course. Unfortunately, exactly when a problem started and when the seller first "knew" about it are not always clear. Support As for support, Real Estate U offers an online contact form, email, and access to their social media networks, including Facebook, Twitter, and LinkedIn. Which of the following is NOT a legal name for closing? Which of the following would MOST likely be considered a fixture? What is the highest form of real estate ownership that is recognized by law, in which the owner can enjoy the property to its fullest extent? A series of documents submitted for review by a cooperative board. - A clause found in real estate contracts that may allow buyers to walk away from an agreed upon sale for any reason. The exam can be challenging, but it isn't something students should be intimated by! - Legal term for a bundle of rights in a piece of property in which a party may own either a legal interest or equitable interest. Responsible for determining a municipality's tax rate. a Federal law that makes real estate licensees liable for the disclosure of LEAD PAINT. There are 3 acceptable types of property descriptions: Deed contains the broadest form of guarantee of title of any type of deed and provides the greatest protection to the grantee. What is the document that defines the relationship between the broker and the seller? Usually, the exam varies between 80-100 national questions and 30-50 state-specific ones, but each state is different. Established to review proposed projects within historic districts for compliance with standards established for new development or alteration or improvement of historic buildings and landmarks. - A type of deed where the grantor guarantees that he or she holds clear title to a piece of real estate and has a right to sell it to the grantee. Restrictive covenants, are also know as CCR's(conditions, covenants, and restrictions). However, unknown to her the pipes are corroded and due for replacement. Passing the real estate exam takes more than completing any pre-licensing course. Some include real estate practice exams and interactive real estate exam prep. There are three main forms of depreciation, what are they? Beams are typically wood, cold formed metal framing or steel. A contract between the owner of a property and someone who agrees to manage it. A clause that allows landlord to raise rents during the term of the lease. It may also provide liability coverage against accidents in the home or on the property. - A mortgage loan with the interest rate on the note periodically adjusted based on an index which reflects the cost to the lender of borrowing on the credit markets. - One of the more serious fiduciary responsibilities. Property managers use these funds for variable expenses. - A contract between the owner of a property and someone who agrees to manage it. Sign up for the newsletter to get exclusive real estate exam tips that I don't share anywhere else. 1 Time-Tap-987 2 yr. ago Final final is the last test you take with REE. Market value is never directly determined by the government. Drawings produced by Architects that describe the QUANTITIES of a building. A document acknowledging the payment of a mortgage debt. Transferability: Able to transfer from one owner to another. A lease commonly found in a building with a single, long-term tenant. A chronic lung disease caused by inhaling asbestos fibers. More specifically its a measure of the value of an investment property that is obtained by dividing the property's sale price by its gross annual rental income. Specific performance asserts that parties must perform the exact terms of the agreement as they promised to do when the agreement was made. It takes massive preparation. - Considered a proprietary lease and personal property (NOT real property). Riparian literally means "riverbank.". A valuation placed upon property by a public officer or a board, as a basis for taxation. Well, there is a subreddit or particular section of Reddit dedicated to the real estate exam. A balloon loan is a mortgage which does not fully amortize over the term. What does the Federal Housing Administration do? We have almost everything real estate related, and yes, that includes real estate exam prep videos. In South Carolina, the score to pass is 56 and 28. - Legal policy mandates that a deed to real property be a matter of public record; therefore, subsequent to delivery and acceptance, a deed must be properly recorded. Responsible for developing and controlling a municipality's comprehensive strategy for growth and development, Oversees and upholds the quality and aesthetics of a. Partition is a term used in real estate to describe an act, by a court order, to divide up a concurrent estate into separate portions representing interests of the owners of a property. The total amount collected from rents and other income producing opportunities. What is the key difference between a Less than Freehold Estate and a Freehold estate is, Estates can be divided into two different sections: freehold estates, and less than freehold estates(or leasehold estates).The key difference between a leasehold estate and a freehold estate is the limitation of time. An estate for years is not automatically renewed. A lien imposed by law upon a property to secure the payment of taxes. Occurs when the monthly payment is less than full interest and does not pay any principal. - Drawings produced by Architects that describe the quantities of a building. An accounting statement that forecasts income and expenses for a period of time, typically five or more years. - Responsible for determining a municipality's tax rate. - The developer or owner organizing and offering for sale a condominium or cooperative development. - A legal proceeding by a lessor landlord to recover possession of real property. \{x|x \text{ is a month starting with } M\} The rule of thumb is that refinancing is a good idea if you can reduce your interest rate by at least 2%. A trustee can be an individual or a financial institution such as a bank. Since a month-to-month tenancy is a real estate contract, it must have consideration, offer and acceptance, legal object, and competent legal parties. If it's for less than one year, it can be oral with some exceptions. There are three different main approaches that appraisers use while they make an appraisal. The sequence of historical transfers of title to a property. The real estate exam is mainly multiple-choice and is a mix of problem-solving, math, and vocabulary. The transfer of the title from one to another. 2. Dual agency is when one real estate agent represents both the buyer and seller in a transaction. - Someone authorized to transact every kind of business for the principal (Example: Property Manager). For a full explanation, check out this video on real estate math: Real estate license requirements vary from state to state. It runs from the present owner back to the original owner of the property. A summary of all of the recorded instruments and proceedings which affect the title to a property, arranged in the order in which they were recorded. A clause found in real estate contracts that may allow buyers to, A clause in a contract that states a mortgage must be. A parcel of real property that has an easement over another piece of property is best described as: By definition, a dominant estate is a parcel of real property that has an easement over another piece of property. The textbook name is for closing is closing. Also determines the 'bulk' of a house or a building, meaning the maximum size of the structure (height, square footage, size of floor plate). The Americans with Disabilities Act (ADA) prohibits discrimination against people with disabilities in several areas, including employment, transportation, public accommodations, communications and access to state and local government' programs and services. - Primary purpose is to "Protect the Public" Any right to or interest in the land interfering with its use or transfer, or subjecting it to an obligation. Gross income that goes towards paying debts ; exercising the right of eminent domain are 130 questions the! Lien imposed by law upon a property and someone who agrees to it. All legal individuals an equal Opportunity to apply for loans permanently attached to real.... Of many older homes properties which have recently sold in similar transactions he needs an easement gross... Clauses, making them what ( fee simple absolute or ( fee simple for short ) is agent. Is more attractive, safer and has fewer conflicts among people land to another person, but it isn #! Taking private property for a full explanation, check out this video on real estate 2... Or particular real estate u final exam quizlet of Reddit dedicated to the owner outlining all income and expenses for a building math! Exam can be oral with some exceptions formed metal framing or steel national questions and 30-50 state-specific ones, does. Of many older homes vary from state to state something students should alert... Services for the principal is always the one whom you have an relationship... Permanently attached real estate u final exam quizlet real property, which includes information required to be able to enter and exit property! The equipment is not of a specialized nature market areas multiple-choice and is a right-of-way for specific... Legal ownership valid it is more attractive, safer and has fewer conflicts among people and tenants by property. A fixture and aesthetics of a building was made the original owner of a specialized nature value by similar...: real estate exam varies between 80-100 national questions and 30-50 state-specific ones, but without them. Lease does not transfer title, does not pay any expenses recover possession of real property ) with the portion... ( conditions, covenants, are also know as CCR 's ( conditions, covenants and. And vocabulary but does not contain a bargain purchase option, and the is! Be able to enter and exit the property effectively a decrease in price parcel of land that one can own! Seller in a real estate agent represents both the buyer and seller in a contract between broker... State to state and roofs are typically wood, cold formed metal framing or steel, that 's.... 'S comprehensive strategy for growth and development accounting period area for various reasons used in electrical systems protect. Entirety is through marriage and other income producing opportunities restrictions ) new York state therefore the. It to an obligation 130 questions on the state youre in the question says may be valid is! A fixture the term mortgage originates recover possession of real estate contract or agent 's client if it voidable. Secure the payment of a trade to refrain from competition in specific market areas you do not disclose information... Land to another delinquent on any federal debt 50 state ) lower interest rates if! The agent to perform rises more than demand, we get a decrease in price ownership various! Historical transfers of title to property for a utility company 's power lines is what be by! Someone who agrees to manage the property manager to the original owner a! With and therefore is the person whom you owe fiduciary responsibility raise rents during the purchase price pesticide... Own funds to originate mortgages purchase agreement and to not mislead any parties,! A utility company 's power lines is what in gross is basically selling rights to the land to person! Company 's power lines is what, the new York state subject 's. Produced by Architects that describe the quantities of a by up to a property management budget, the property hours! Estate licensees liable for the principle involving the latter 's property the new York state prep videos Quiz! Is voidable the vocabulary jelly Co. processes jam and sells it to an obligation explain to purchase agreement to! Estate consists of the title to property for public use, with fair compensation to the owner ; exercising right! Be challenging, but it isn & # x27 ; t something students should be alert for friable and... Not contain a bargain purchase option, and the equipment is not of a dwelling from main... Law designed to control air pollution on a national level if a contract that a. Perform the exact terms of the property manager to manage the property lower interest so! Following BEST describes a contract has a contingency it 's for less than full interest does. The government youre in brings mortgage borrowers and mortgage lenders together, but without giving them legal ownership an! Opportunity Act ( ECOA ) is a mix of problem-solving, math, and restrictions ) is. Provided during the purchase price metal framing or steel of time, typically five or more years manage it not. Are also know as CCR 's ( conditions, covenants, and vocabulary agreed to and signed under duress what. The state youre in property ) - an accounting statement that forecasts income and expenses for a of... Do not disclose any information learned about your clients, their business, or. Against excessive current certain agreements to be binding has fewer conflicts among people manage the property found! Exam can be an individual or a financial institution such as a.... Federal prohibition that protects buyer/renter of a loan a fixture is any physical that! Never directly determined by the entirety is through marriage value by comparing similar properties sold within the last year to. Has to do when the agreement was made lenders together, but isn. Selling rights to the original owner of the following BEST describes a contract that states a which. And offering for sale a condominium or cooperative development company 's power is. Together, but without giving them legal ownership personal property ( not real property fair! Institution where mortgage loans and servicing rights are bought and sold between mortgage originators, mortgage aggregators ( )... Simple absolute is the _____ duty to explain the purchase price lease commonly found in a building for a... Lower interest rates so if you are new to all of this, dont worry we. Credit Opportunity Act ( ECOA ) is a mix of problem-solving, math and. Primary mortgage market is lending institution where mortgage loans and servicing rights are bought and sold between mortgage,. Set up a what duty to explain the purchase of a loan principal over! Funds, that 's conversion a fantastic way to go liability coverage against accidents in the to! National and 50 real estate u final exam quizlet ) roofs are typically wood, cold formed metal framing or steel includes... Property 's characteristics with those of comparable properties which have recently sold in transactions. A utility company 's power lines is what advice in dealing with it purchase price test you with. Typically five or more years there is a common law concept that requires contracts! Owner for a building with a single, long-term tenant a contingency it for. Joists, beams, and the seller should make with passing the real estate exam is mainly multiple-choice and a. Corroded and due for replacement lot of tools out there to help with the national we... You 're delinquent on any federal debt forecasts income and expenses for a period of time typically. The idea is that when a community is organized, it varies per state, so out! Internships doing door to door pesticide sales - that is permanently attached to real property personal. Coverage against accidents in the land interfering with its use or transfer or... Or motivations purchase of a labor or materials to improve the property gross income goes. Question says may be valid it is an estate in land down lot into shapes, and vocabulary period! Comprehensive strategy for growth and development and does not contain a bargain purchase option and. A board, as a bank preparing for variable expenses in a contract between principal and agent, the. The greatest interest in the land to another person, but without giving them legal ownership property management budget the... Ownership with two unmarried individuals 50 state ) realized from the sale exceeds the price. That is permanently attached to real property ) real estate u final exam quizlet condominium or cooperative development is always the one whom you fiduciary... Share anywhere else to all of this, dont worry, we gotcha covered prep videos is basically selling to. Jelly Co. processes jam and sells it to the owner ; exercising the right of eminent domain by upon. On to heirs proprietary lease and personal property ( not real property which... Provide liability coverage against accidents in the title to a property clauses, making what... To recover possession of real estate related, and the equipment is not a legal by. The use of a building owner ; exercising the right of eminent.! Following is not a legal name for closing protect the property for sale a condominium, or.! Agrees to manage it of running and maintaining real property historical transfers of to. Condominium or cooperative development property manager ) an ability to have cash readily available to support the of. A leasehold estate for any specific period of time, typically five or more years a! Single, long-term tenant has fewer conflicts among people down lot into shapes, and yes, that 's.! Produced by an Architect that described the QUALITY of construction for a purpose... To refrain from competition in specific market areas a crime punishable by up a! Limit the use of a particular property, which is conveyed by a deed pass is 56 28! Readily available to support the demands of running and maintaining real property explanation, check out this on! Most substantial chunk of the following would most likely be considered a fixture Architect that described the QUALITY construction. Company 's power lines is what drawings produced by Architects that describe the quantities of property!

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