Untitled Quiz

<p>Rates that change periodically within a certain range (A)</p> Signup and view all the answers

<p>An upfront fee with no promise of a transaction (C)</p> Signup and view all the answers

<p>It provides title based on open and notorious possession (A)</p> Signup and view all the answers

<p>They must be documented accurately (C)</p> Signup and view all the answers

<p>It means having specific, actual knowledge of a fact (D)</p> Signup and view all the answers

<p>A summary of the condition of title to real property based on public records. (D)</p> Signup and view all the answers

<p>A clause that enables a lender to demand full repayment upon a specific event. (C)</p> Signup and view all the answers

<p>The expression of intent to be bound by the terms of an offer. (D)</p> Signup and view all the answers

<p>To maintain and preserve the property and money of the principal. (C)</p> Signup and view all the answers

<p>A natural addition to land from gradual actions of bodies of water. (B)</p> Signup and view all the answers

<p>To prevent documents from being forged or fraudulently induced. (D)</p> Signup and view all the answers

<p>A measure of land equaling 160 square rods or approximately 43,560 square feet. (D)</p> Signup and view all the answers

<p>Compensatory damages that arise directly from the wrongdoing. (A)</p> Signup and view all the answers

<p>Residents own shares in a corporation and have proprietary leases. (D)</p> Signup and view all the answers

<p>All co-owners have equal rights to access and use the property. (B)</p> Signup and view all the answers

<p>A separate legal entity with rights and responsibilities distinct from its owners. (C)</p> Signup and view all the answers

<p>The replacement cost of improvements minus depreciation. (B)</p> Signup and view all the answers

<p>The interest rate incurred for borrowing funds. (D)</p> Signup and view all the answers

<p>It cancels the original offer and proposes new terms. (B)</p> Signup and view all the answers

<p>Handling public revenues and expenditures. (C)</p> Signup and view all the answers

<p>They impose specific duties or restrictions on property use. (B)</p> Signup and view all the answers

<p>A description of the land and its uses (B)</p> Signup and view all the answers

<p>It involves three parties (D)</p> Signup and view all the answers

<p>A limitation on how the property can be used (D)</p> Signup and view all the answers

<p>A breach of contract obligation (C)</p> Signup and view all the answers

<p>To transfer title back to the borrower upon repayment (C)</p> Signup and view all the answers

<p>To enable the mortgagor to redeem the property (B)</p> Signup and view all the answers

<p>Conflicting ownership claims (D)</p> Signup and view all the answers

<p>It conveys ownership interest without warranty (D)</p> Signup and view all the answers

<p>Major physical defects such as a leaky roof (D)</p> Signup and view all the answers

<p>Investing savings directly instead of through banks (C)</p> Signup and view all the answers

<p>Any unequal treatment based on group affiliation (C)</p> Signup and view all the answers

<p>It prohibits discrimination based on race in property dealings (C)</p> Signup and view all the answers

<p>Neutral actions affecting protected classes more significantly (C)</p> Signup and view all the answers

<p>Amounts paid to reduce the loan interest rate (D)</p> Signup and view all the answers

<p>It requires revealing major defects in a property (B)</p> Signup and view all the answers

<p>Waiting for buyer approval before listing (B)</p> Signup and view all the answers

<p>Emblement (C)</p> Signup and view all the answers

<p>Eminent Domain (B)</p> Signup and view all the answers

<p>Release of fibers into the air (D)</p> Signup and view all the answers

<p>The act of building on another's property (B)</p> Signup and view all the answers

<p>May restrict the use of property (C)</p> Signup and view all the answers

<p>The amount guaranteed by the government (C)</p> Signup and view all the answers

<p>Environmental Protection Agency (A)</p> Signup and view all the answers

<p>Ability to carry out effectively (A)</p> Signup and view all the answers

A summary of a property's ownership history based on public records, showing deeds, transfers, and encumbrances.

A clause in a loan document that allows the lender to demand immediate payment of the entire loan if certain conditions aren't met.

A clear agreement to accept the terms of an offer. The agreement must be communicated.

Adding property to existing property through natural causes or by another person's actions.

Agent's duty to track and account for a principal's funds and property.

Land increase from natural causes, typically by water.

A formal statement of authenticity for a document, confirming the signature is genuine and voluntary.

A unit of land area (43,560 square feet).

An act meant to deceive, like making a false promise or lying.

Knowing a fact directly, not just through hints.

Taxation based on value.

Extra material added to a document.

A loan with interest rates that can change over time.

A fee paid before service, often without guarantees.

Claiming ownership through continuous, open use.

Physical control or ownership.

A building/housing where residents are shareholders owning a proprietary lease to a unit, and can use common areas.

Two or more people/entities owning an undivided interest in a property.

A legal entity separate from its owners, created by law.

Valuation method estimating improvements' cost, subtracting depreciation, and adding land value.

The interest rate charged for borrowing money.

A new offer in response to a previous one, rejecting the initial offer.

Government officer managing public funds.

Agreements in deeds promising specific actions or restrictions on property use.

A detailed document describing a real estate project, including land ownership, apartment details, building use, and legal requirements.

A legal document transferring ownership of real property from a grantor to a grantee.

A legal document where property ownership is transferred to a trustee as security for a loan, with three parties involved: borrower, lender, and trustee.

Limitations in a deed that dictate permitted uses of a property.

Nonperformance of a duty or obligation in a contract, leading to potential legal remedies for the non-defaulting party.

The clause in a mortgage allowing the borrower to reclaim their property by fulfilling their obligations to the lender.

A legal document where the borrower voluntarily transfers property title to the lender to prevent foreclosure.

A deed that transfers any and all interests a grantor has in a property to a grantee, without guarantees of ownership.

The specific day the conclusion of value applies.

Crops produced annually, by labor and industry, as distinguished from crops that grow naturally on the land.

The right of the government to acquire property for necessary public or quasi-public use by condemnation; the owner must be fairly compensated.

One who works under the supervision and control of another.

The process of applying a sealant to asbestos-containing material, which penetrates the material’s surface, preventing the release of the dangerous fibers into the air.

The building of a structure or construction of any improvements, partly or wholly on the property of another. A form of trespass.

Any claim, lien, charge or liability attached to and binding on real property that may lessen its value or burden, obstruct or impair the use of a property but not necessarily prevent transfer of title.

The ability to carry out effectively

The act of revealing or making known important information, especially about potential problems with a property.

A fee paid upfront to a lender to lower the interest rate on a mortgage. Each point equals 1% of the loan amount.

Treating someone unfairly based on their membership in a particular group or class.

When people withdraw their savings from banks and invest directly, leading to less money available for mortgages.

A legal doctrine that shows discrimination even if there's no direct intent, based on a rule that negatively affects a protected group more than others.

Disclosure in real estate aims to provide buyers with all the necessary information about a property, including potential defects, to make an informed decision.

A discount point lowers the interest rate on a mortgage, but the buyer pays a fee upfront to the lender.

Prohibiting discrimination ensures that everyone has equal access to housing opportunities, regardless of their race, religion, or other protected characteristics.