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Questions and Answers
Who is responsible for drafting the leasing agreement?
Who is responsible for drafting the leasing agreement?
- Broker
- Tenant
- Landlord (correct)
- Property manager
What does 'fee simple' ownership entail?
What does 'fee simple' ownership entail?
- No encumbrances on the property (correct)
- Limited rights to the property
- Shared ownership with tenants
- Rights only to the building, not the land
How are real estate brokers compensated for leasing in NY?
How are real estate brokers compensated for leasing in NY?
- Paid by the landlord
- Paid by the tenant (correct)
- Paid by the property manager
- Paid by the seller
What triggers the broker's performance in real estate transactions?
What triggers the broker's performance in real estate transactions?
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What is an easement in real estate terminology?
What is an easement in real estate terminology?
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