actual notice
own it<\/p>\n\n\n\n
Constructive notice
record something in public records<\/p>\n\n\n\n
How Is Real Estate Recovery Funded ?
by fees & fines<\/p>\n\n\n\n
Eminent Domain
government has right to take away public use citizens can’t refuse to sell)<\/p>\n\n\n\n
immune properties
government owned<\/p>\n\n\n\n
lot & block
residential sub-division surgery system<\/p>\n\n\n\n
Metes and Bounds
oldest method of land description & provides the most accurate type of legal descriptions<\/p>\n\n\n\n
What does the Real estate recovery fund do ?
reimburse members of the public<\/p>\n\n\n\n
what is a township\u2026
a township is 6 miles square contains 36 square miles<\/p>\n\n\n\n
Each township contains __<\/em> acres How many square feet are in an acre? kickbacks are illegal unless.. Offer and Acceptance Overimprovement statue of frauds statute of limitations (oral contracts) statue of limitations (written contracts) Sufficient Consideration WILD CARD option contract define contract for deed define Define implied contract Suit for cancellation (rescission) Suit for Specific Performance assignment exclusive right of sale listing which of the following is correct regarding the “as is” provision in a sales contract? an option is a unilateral contract that is binding to which party ? What are the three basic remedies for a breach of contract? Define promissory note When a loan has been paid in full in a lien theory state, what happens next ? Which clause in a mortgage requires the lender to acknowledge performance by the borrower? which term refers to the right of a mortgagor in default to pay all money owed and prevent the sale of the property at foreclosure? What is the primary purpose of discount point? what is a check? define gross lease define net lease percentage lease what are specific liens? define real estate property taxes define special assessment lien blockbusting Steering or channeling redlining Accretion real property riparian rights Tenancy in Common Joint Tenancy tenancy in entireties Life Estate Tenancy for years Elective Share tenancy at will (month to month) actual noticeown it Constructive noticerecord something in public records How Is Real Estate Recovery Funded ?by fees & fines Eminent Domaingovernment has right to take away public use citizens can’t refuse to sell) immune propertiesgovernment owned lot & blockresidential sub-division surgery system Metes and Boundsoldest method of land description & provides the most accurate type […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":""},"categories":[25],"tags":[],"class_list":["post-113882","post","type-post","status-publish","format-standard","hentry","category-exams-certification"],"_links":{"self":[{"href":"https:\/\/www.learnexams.com\/blog\/wp-json\/wp\/v2\/posts\/113882","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.learnexams.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.learnexams.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.learnexams.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.learnexams.com\/blog\/wp-json\/wp\/v2\/comments?post=113882"}],"version-history":[{"count":0,"href":"https:\/\/www.learnexams.com\/blog\/wp-json\/wp\/v2\/posts\/113882\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.learnexams.com\/blog\/wp-json\/wp\/v2\/media?parent=113882"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.learnexams.com\/blog\/wp-json\/wp\/v2\/categories?post=113882"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.learnexams.com\/blog\/wp-json\/wp\/v2\/tags?post=113882"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
640 acres<\/p>\n\n\n\n
43,560<\/p>\n\n\n\n
someone has a licensed<\/p>\n\n\n\n
Meeting of the minds or mutual agreement- all parties concerned understand and agree to all the terms of the contract<\/p>\n\n\n\n
An addition or change to property not in line with its highest and best use<\/p>\n\n\n\n
provides protection against fraud in the sale of real property. requires contract for the transfer of a right or interest in land<\/p>\n\n\n\n
if contract is entirely oral, action must be brought within 4 years<\/p>\n\n\n\n
if contract is entirely written, action must be brought within five years<\/p>\n\n\n\n
either valuable or good consideration may be sufficient<\/p>\n\n\n\n
Withdrawal, insanity, lapse of time, death of either party ,counteroffer, acceptance,rejection,destruction of property<\/p>\n\n\n\n
right to buy a property during a specified period-of-time, at a specified price.<\/p>\n\n\n\n
aka an agreement between a property owner & potential buyer in which the owner agrees to deliver a deed to the purchaser after certain conditions been met<\/p>\n\n\n\n
exists when some or all of the terms and conditions can be assumed by the nature of the government<\/p>\n\n\n\n
The party who is not in breach of contract can bring a suit in court to cancel the contract and ask the court to put the parties back in their original positions.<\/p>\n\n\n\n
A lawsuit to hold the defaulting party to his duties under a contract<\/p>\n\n\n\n
the sale, transfer, or subrogation of rights in a contract<\/p>\n\n\n\n
A bilateral contract in which the property owner promises to pay a commission regardless of who sells the listed property.<\/p>\n\n\n\n
the seller is still required to disclose all known defects<\/p>\n\n\n\n
optionor<\/p>\n\n\n\n
suit fr cancellation (recession), suit for specific performance, and suit for damages<\/p>\n\n\n\n
evidences the debt, and states the interest rate, term, payment requirement, & other information related to that loan<\/p>\n\n\n\n
the mortgagor should receive a letter of satisfaction from the mortgagee within 60 days of the loan payoff<\/p>\n\n\n\n
Defeasance clause<\/p>\n\n\n\n
Exculpatory clause<\/p>\n\n\n\n
to decrease monthly payment required<\/p>\n\n\n\n
the intersection of guide meridians and correction lines forms a 24-mile square area<\/p>\n\n\n\n
a lease in which the tenant agrees to pay a fixed rents amount and landlord pays all other expenses related to rent (residential)<\/p>\n\n\n\n
a lease in which the tenant pays a fixed rent plus all or a portion of the operating costs<\/p>\n\n\n\n
a lease in which the tenant pays a monthly base rent plus a percentage of the annual or monthly gross sales products<\/p>\n\n\n\n
real property taxes, special assessment lien, mortgage liens<\/p>\n\n\n\n
property taxes<\/p>\n\n\n\n
for improvements; such as sidewalks, road paving, etc.<\/p>\n\n\n\n
Inducing owners to sell because of entry of minorities into neighborhoods<\/p>\n\n\n\n
steering directly or indirectly into or away from a neighborhood or location on the basis or race, religion, sex, etc.<\/p>\n\n\n\n
refusal by a lender to approve a mortgage loan based on a property being located in a geographical area.<\/p>\n\n\n\n
an increase in land area as moving water deposits soil<\/p>\n\n\n\n
includes all real estate plus the legal bundle of rights inherent in the ownership of real estate.<\/p>\n\n\n\n
rights of an owner whose property borders a flowing waterway such as a river or stream.<\/p>\n\n\n\n
Co-ownership of property in which each party owns an undivided interest that passes to his or her heirs at death.<\/p>\n\n\n\n
A form of co-ownership that includes the right of survivorship.<\/p>\n\n\n\n
can only be entered into by married couples, carries the right of survivorship, and one tenant cannot sell or mortgage the subject property without the spouses consent<\/p>\n\n\n\n
An interest in land that exists only for the duration of the life of some person, usually the holder of the estate.<\/p>\n\n\n\n
a leasehold interest for a definite period of time exceeding one year<\/p>\n\n\n\n
Provision that gives a surviving spouse a share of most of the wealth of the decedent.<\/p>\n\n\n\n
a tenancy granted by landlords to tenants allowing them to remain in possession without written agreement<\/p>\n","protected":false},"excerpt":{"rendered":"